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- RES 4: $620.50 - 1.00 proj of Dec 7 - Jan 13 rally from Jan 25 low
- RES 3: $590.75 - 0.764 proj of Dec 7 - Jan 13 rally from Jan 25 low
- RES 2: $572.00 - High Feb and 50% of the 2012-20 downleg (cont)
- RES 1: $559.75 - High Feb 23
- PRICE: $546.50 @ 13:44 GMT Mar 1
- SUP 1: $523.25 - Low Feb 11
- SUP 2: $510.50 - Low Jan 26
- SUP 3: $494.50 - Low Jan 25 and key support
- SUP 4: $488.25 - Jan 7 low
Corn futures are consolidating. On Feb 9, the contract registered a new trend high of $572.00 on Feb 9 which coincides with 50% of the 2012 - 2020 downleg. $572.00 remains the bull trigger, a breach would resume the uptrend and maintain the bullish price sequence of higher highs and higher lows. This would open $590.75, a Fibonacci projection. Initial key trend support is $523.25, Feb 11 low. A break would allow for a deeper pullback.