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(N2) Northbound

CORN TECHS
  • RES 4: $830.31 - 2.618 proj of the Mar 16 - 23 - 29 price swing
  • RES 3: $824.25 - 2.50 proj of the Mar 16 - 23 - 29 price swing
  • RES 2: $818.19 - 2.382 proj of the Mar 16 - 23 - 29 price swing
  • RES 1: $814.00 - Intraday high
  • PRICE: $803.25 @ 13:44 BST Apr 19
  • SUP 1: $783.75/50.13 - Low Apr 18 / 20-day EMA
  • SUP 2: $718.25 - Low Apr 1
  • SUP 3: $695.50 - Low Mar 29 and key support
  • SUP 4: $677.25 - Low Mar 1

Corn futures started the week on a firm note, trading higher yesterday to resume the broader uptrend and, the current bull cycle that started Mar 29. Moving average studies remain in a bull mode and a price sequence of higher highs and higher lows, clearly highlights the current positive market sentiment. With price above $800.00, the focus is on $818.19, a Fibonacci projection. The 20-day EMA, at $750.13, represents firm support.

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