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US TSYS

SOFR,GC Rates Steady Monday

US EURODLR OPTIONS

Morning trades

GILT PAOF RESULTS

The PAOF for the 1.25% Jul-51 gilt was not taken up

SHORT-STERLING OPTIONS

SONIA call spread

(K1) Corrective Phase

CORN TECHS
  • RES 4: $620.50 - 1.00 proj of Dec 7 - Jan 13 rally from Jan 25 low
  • RES 3: $600.00 - Psychological round number
  • RES 2: $590.75 - 0.764 proj of Dec 7 - Jan 13 rally from Jan 25 low
  • RES 1: $572.00 - High Feb and 50% of the 2012-20 downleg (cont)
  • PRICE: $541.75 @ 14:32 GMT Feb 12
  • 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 bullish despite stalling at Tuesday's high - dips are considered corrective. The contract registered a fresh trend high this week at $572.00 which coincides with 50% of the 2012 - 2020 downleg. $572.00 is 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. Key trend support is at $494.50, Jan 25 low.