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(K2) Sharply Higher

CORN TECHS
  • RES 4: $750.56 - 2.618 proj of the Jan 13 - 31 - Feb 2 price swing
  • RES 3: $746.25 - High APr 30 2021 and a key resistance
  • RES 2: $730.13 - 2.236 proj of the Jan 13 - 31 - Feb 2 price swing
  • RES 1: $717.25 - 2.00 proj of the Jan 13 - 31 - Feb 2 price swing
  • PRICE: $703.00 @ 14:47 GMT Feb 24
  • SUP 1: $660.50 - High Feb 10
  • SUP 2: $635.25 - Low Feb 15
  • SUP 3: $610.25 - Low Feb 3 and key support
  • SUP 4: $619.06 - 50-day EMA / Low Jan 3

Corn futures started the week on a firm note and bulls have not looked back, with the uptrend accelerating today. Price has traded through the $700.00 handle, reinforcing the uptrend and confirming an extension of the bullish price sequence of higher highs and higher lows. Moving average conditions are bullish too. The focus is on $717.25 and $730.13, Fibonacci projections. Key short-term support has been defined at $635.25, the Feb 15 low.

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