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(K3) Testing The 50-Day EMA

CORN TECHS
  • RES 4: $702.550 - High Oct 31 2022
  • RES 3: $686.00 - High Jan 18 and a key resistance
  • RES 2: $660.25 - Low Jan 23-
  • RES 1: $648.44649.00 - 50-day EMA / Intraday high
  • PRICE: $647.75 @ 13:44 BST Mar 28
  • 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. Resistance at $642.75, the Mar 3 high, has been breached. The clear break strengthens bullish conditions and highlights a stronger reversal. Sights are on the 50-day EMA that intersects at $648.44. This level represents the next key resistance point and has been pierced. A clear break would open $660.25, the Jan 23 low. Initial firm support has been defined at $623.25, the Mar 22 low.

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