Free Trial

(H2) Probes Key Resistance

CORN TECHS
  • RES 4: $640.50 - High May 7 and a major resistance
  • RES 3: $633.00 - High Jun 10
  • RES 2: $625.00 - High Jun 11
  • RES 1: $619.50 - Intraday high
  • PRICE: $610.75 @ 13:44 GMT Jan 24
  • SUP 1: $590.94/84.75 - 50-day EMA / Low Jan 3
  • SUP 2: $562.50 - Low Nov 3.0 and a key support
  • SUP 3: $557.50 - Low Nov 9
  • SUP 4: $542.00 - Low Oct 26

Corn futures have probed the late December high of $617.75. The print above this resistance highlights a resumption of the underlying uptrend and maintains the bullish price sequence of higher highs and higher lows. The focus is on $625.00. Note too that the moving average condition remains in a bull mode highlighting the current trend direction. Key support has been defined at $584.75 Jan 3. A break would signal a short-term top.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.