MNI: US NOV FINAL MANUF PMI 49.7 (FLASH 48.8); OCT 48.5

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

MNI: UK NOV FINAL MANUF PMI 48.0 (FLASH 48.6); OCT 49.9

MNI NBP WATCH: Another Policy Hold, Dovish Communications Tilt

MNI: PBOC Net Drains CNY216 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Lower At 7.1865 Mon; -1.50% Y/Y

MNI:AUSTRALIA Q3 CURR ACCT BALANCE -14149M

MNI: UK BRC NOV BY VALUE SHOP SALES LFL -3.4% YY, TOTAL -3.3% YY

EZ/UK T-Bill Calendar: Spain, Belgium, ESM Auction on Tuesday

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

(K3) Bearish Price Sequence

CORN TECHS
  • RES 4: $6869.00 - High Oct 10 Jan 18 and a key resistance
  • RES 3: $658.94 - 50-day EMA
  • RES 2: $642.75 - High Mar 3 and key short-term resistance
  • RES 1: $622.25 - Low Mar 1
  • PRICE: $611.25 @ 14:35 GMT Mar 10
  • SUP 1: $606.38 - 76.4% of the Jul 22 - Oct 10 20 2022 bull cycle
  • SUP 2: $600.00 - Psychological round number
  • SUP 3: $573.75 - Low Jul 22 and a major support
  • SUP 4: $552.50 - Low Jan 3 2022

Corn futures remain vulnerable. The recent sharp sell-off (late February) highlighted a bearish threat and the contract is once again weaker following yesterday's sell-off and resumption of the downtrend. This maintains the current bearish price sequence of lower lows and lower highs. The focus is on $606.38, a Fibonacci retracement and $573.75, the Jul 22 low and a key support. Initial firm resistance is at $642.75, the Mar 3 high.

Energy BulletsCommodities
Energy BulletsCommodities

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.