Free Trial

(N2) Trend Outlook Remains Bullish

CORN TECHS
  • RES 4: $772.75 - 1.50 proj of the Mar 16 - 23 - 29 price swing
  • RES 3: $766.69 - 1.382 proj of the Mar 16 - 23 - 29 price swing
  • RES 2: $759.13 - 1.236 proj of the Mar 16 - 23 - 29 price swing
  • RES 1: $755.50 - High Apr 6
  • PRICE: $744.25 @ 13:44 BST Apr 7
  • SUP 1: $723.50 - 20-day EMA
  • SUP 2: $695.50 - Low Mar 29 and key support
  • SUP 3: $690.81 - 50-day EMA
  • SUP 4: $643.50 - Low Feb 25

Corn futures traded to a fresh trend high on Tuesday of $755.50. This signals a resumption of the underlying uptrend and an extension of the bullish price sequence of higher highs and higher lows. The break signal scope for a climb towards $759.13, a Fibonacci projection. On the downside, a firm short-term support is seen at the 20-day EMA at $723.50 ahead of the key trend support at $695.50, the Mar 29 low.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.