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(H2) Resumes Its Uptrend

CORN TECHS
  • RES 4: $640.50 - High May 7 and a major resistance
  • RES 3: $633.00 - High Jun 10
  • RES 2: $616.50 - High Jul 1
  • RES 1: $611.00 - 1.236 proj of the Nov 9 / 24 / 30 price swing
  • PRICE: $605.25 @ 14:46 GMT Dec 22
  • SUP 1: $581.50/62.50 - Low Dec 14 / Low Nov 30
  • SUP 2: $557.50/516.25 - Low Nov 9 / Low Oct 13
  • SUP 3: $506.75 - Low Sep 10 and bear trigger
  • SUP 4: $494.00 - 76.4% retracement of the Mar 30 - May 7 rally

Corn futures have traded higher today, clearing the $600.00 level and a host of resistance points. The break higher confirms a resumption of the current uptrend and sets the scene for a climb towards $616.50, the Jul 1 high. A break of this level would open the highs from June and May. On the downside, key support has been defined at $562.50, the Nov 30 low. Initial support lies at $581.50, the Dec 14 low.

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