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(K2) Northbound

CORN TECHS
  • RES 4: $783.63 - 3.236 proj of the Jan 13 - 31 - Feb 2 price swing
  • RES 3: $771.00 - 3.00 proj of the Jan 13 - 31 - Feb 2 price swing
  • RES 2: $758.38 - 2.764 proj of the Jan 13 - 31 - Feb 2 price swing
  • RES 1: $752.00 - Intraday high
  • PRICE: $730.00 @ 13:44 GMT Mar 3
  • SUP 1: $655.25 - Low Feb 25 and key short-term support
  • SUP 2: $635.25 - Low Feb 15
  • SUP 3: $631.88 - 50-day EMA
  • SUP 4: $610.25 - Low Feb 3 and key support

Corn futures traded higher last week and the contract has maintained a bullish theme this week. Futures have cleared $716.25, the Feb 24 high. This marks an extension of the bullish price sequence of higher highs and higher lows and reinforces underlying bullish conditions. The move higher opens $758.38 next, a Fibonacci projection level. On the downside, key short-term support has been defined at $655.25, the Feb 25 low.

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