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(K1) Fresh Trend High

CORN TECHS
  • RES 4: $626.50 - Low Apr 5, 2013 (cont)
  • RES 3: $620.50 - 1.00 proj of Dec 7 - Jan 13 rally from Jan 25 low
  • RES 2: $600.00 Psychological round number
  • RES 1: $595.00 - High Apr 9
  • PRICE: $577.00 @ 13:39 BST Apr 12
  • SUP 1: $549.75 - Low Apr 5
  • SUP 2: $533.75 - Low Mar 30 and a key support
  • SUP 3: $529.25 - Low Mar 4
  • SUP 4: $523.25 - Low Feb 11 and key near-term support

Corn futures maintain a bullish tone. The contract traded higher Friday to a fresh trend high of $595.00, confirming a resumption of the underlying uptrend and maintaining the bullish price sequence of higher highs and higher lows. Price traded through, $590.75, a Fibonacci projection, opening the psychological $600.00 level. Initial key support is at $533.75, Mar 30 low.

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