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(N1) Fresh Trend Highs

CORN TECHS
  • RES 4: $659.88 - 2.236 proj of Jan 25 - Feb 9 - Feb 11 price swing
  • RES 3: $644.25 - 2.00 proj of Jan 25 - Feb 9 - Feb 11 price swing
  • RES 2: $628.63 - 1.764 proj of Jan 25 - Feb 9 - Feb 11 price swing
  • RES 1: $618.94 - 1.618 proj of Jan 25 - Feb 9 - Feb 11 price swing
  • PRICE: $614.75 @ 13:44 BST Apr 22
  • SUP 1: $571.25 - Low Apr 16
  • SUP 2: $552.75 - Low Apr 13
  • SUP 3: $537.25 - Low Apr 5
  • SUP 4: $518.25 - Low Mar 30 and a key support

Corn futures outlook remains bullish. The contract resumed its uptrend last week trading to fresh trend highs and has this week maintained the bullish momentum. The move higher also extends the positive price sequence of higher highs and higher lows, reinforcing a bullish theme with moving average studies remaining in a bull mode. The focus is on $618.94, a Fibonacci projection. Initial firm support lies at $552.75, Apr 13 low.

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