Free Trial
EURIBOR OPTIONS

Closing trade

UK DATA

CBI Retail Outlooks Weak as Demand Wanes

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

(N2) Primary Trend Still Up

CORN TECHS
  • RES 4: $840.00 - Round number resistance
  • RES 3: $837.88 - 2.764 proj of the Mar 16 - 23 - 29 price swing
  • RES 2: $830.31 - 2.618 proj of the Mar 16 - 23 - 29 price swing
  • RES 1: $824.50 - High Apr 29 and the bull trigger
  • PRICE: $797.50 @ 13:44 BST May 16
  • SUP 1: $769.00 - Low May 9
  • SUP 2: $755.19 - 50-day EMA
  • SUP 3: $738.25 - Low Apr 5
  • SUP 4: $695.50 - Low Mar 29

Corn futures continue to trade below recent highs. The primary trend is up though and the recent climb to $824.50, on Apr 29, reinforced bullish conditions. It marked an extension of the bullish price sequence of higher highs and higher lows. Moving average studies also point north, reflecting current sentiment. The focus is on $830.31 next, a Fibonacci projection. $755.19, the 50-day EMA, is the next key support.

148 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.
  • RES 4: $840.00 - Round number resistance
  • RES 3: $837.88 - 2.764 proj of the Mar 16 - 23 - 29 price swing
  • RES 2: $830.31 - 2.618 proj of the Mar 16 - 23 - 29 price swing
  • RES 1: $824.50 - High Apr 29 and the bull trigger
  • PRICE: $797.50 @ 13:44 BST May 16
  • SUP 1: $769.00 - Low May 9
  • SUP 2: $755.19 - 50-day EMA
  • SUP 3: $738.25 - Low Apr 5
  • SUP 4: $695.50 - Low Mar 29

Corn futures continue to trade below recent highs. The primary trend is up though and the recent climb to $824.50, on Apr 29, reinforced bullish conditions. It marked an extension of the bullish price sequence of higher highs and higher lows. Moving average studies also point north, reflecting current sentiment. The focus is on $830.31 next, a Fibonacci projection. $755.19, the 50-day EMA, is the next key support.