Free Trial

(K3) Bear Threat Still Present

CORN TECHS
  • RES 4: $712.00 - High Oct 10
  • RES 3: $702.50 - High Oct 31
  • RES 2: $686.00 - High Jan 18 and a key resistance
  • RES 1: $660.25/664.50 - Low Jan 23 / 50-day EMA
  • PRICE: $635.75 @ 14:31 GMT Mar 6
  • SUP 1: $622.25 - Low Aug 19
  • SUP 2: $615.25 - Low Aug 18 2022
  • SUP 3: $606.38 - 76.4% of the Jul 22 - Oct 10 20 2022 bull cycle
  • SUP 4: $573.75 - Low Jul 22 and a major support

The recent sharp sell-off in Corn futures highlights a bearish threat and the cross is trading closer to its recent lows, reinforcing a bearish theme. The 640.00 handle has been breached and price has also traded through a key support at $636.75, the Dec 7 low. The break paves the way for $615.25, the Aug 18 2022 low. On the upside, initial resistance is seen at $660.25, the Jan 23 low.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.