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USDCAD TECHS

Consolidation Mode But Remains Bearish

AUDUSD TECHS

Fails To Hold Onto Thursday’s High

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'Big Tech' Bill Goes To Senate

COMMODITIES

Oil Up For Fifth Week On Supply Disruption, Geopolitics

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  • RES 4: $633.00 - High Jun 10
  • RES 3: $616.50 - High Jul 1
  • RES 2: $599.75 - High Aug 12 and key resistance
  • RES 1: $596.75 - High Nov 24
  • PRICE: $582.50 @ 14:36 GMT Dec 7
  • SUP 1: $557.50/516.25 - Low Nov 9 / Low Oct 13
  • SUP 2: $506.75 - Low Sep 10 and bear trigger
  • SUP 3: $494.00 - 76.4% retracement of the Mar 30 - May 7 rally
  • SUP 4: $488.75 - Low Apr 7

Corn futures remain below $596.75, the Nov 24 high. Trend conditions are bullish though - the contract has, since Sep 10, established a positive price sequence of higher highs and higher lows. Furthermore, moving average studies remain in a bull mode, reinforcing current trend conditions. The focus is on $599.75 next, Aug 12 high. On the downside, sub $557.50 levels, Nov 9 low, would threaten the bullish theme.