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(N2) Trend Needle Points North

CORN TECHS
  • RES 4: $798.50 - 2.00 proj of the Mar 16 - 23 - 29 price swing
  • RES 3: $786.38 - 1.764 proj of the Mar 16 - 23 - 29 price swing
  • RES 2: $778.81 - 1.618 proj of the Mar 16 - 23 - 29 price swing
  • RES 1: $773.50 - High Apr 12
  • PRICE: $768.75 @ 13:38 BST Apr 13
  • SUP 1: $736.00 - 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 are holding onto recent gains and remain bullish. The contract traded to a fresh cycle high once again on Tuesday, to confirm a resumption of the uptrend and an extension of the bullish price sequence of higher highs and higher lows. The break signals scope for a climb towards $778.81, a Fibonacci projection. On the downside, firm short-term support is seen at $736.00, the 20-day EMA.

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