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(K3) Approaching The 50-Day EMA

CORN TECHS
  • RES 4: $686.00 - High Jan 18 and a key resistance
  • RES 3: $660.25 - Low Jan 23
  • RES 2: $648.44 - 50-day EMA
  • RES 1: $645.00 - High Mar 24
  • PRICE: $640.75 @ 13:44 GMT Mar 27
  • SUP 1: $623.25 - Low Mar 22
  • SUP 2: $606.75 - Low Mar 10 and a key support
  • SUP 3: $573.75 - Low Jul 22 and a major support
  • SUP 4: $552.50 - Low Jan 3 2022

Corn futures continue to trade at their recent highs. Initial firm resistance at $642.75, the Mar 3 high, has been pierced. A clear break would strengthen bullish conditions and highlight a stronger reversal. Sights are on the 50-day EMA that intersects at $648.44. This level represents the next key resistance point. Initial firm support has been defined at $623.25, the Mar 22 low. A break would signal a reversal.

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