Free Trial

(N2) Watching Support

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: $782.00 @ 13:20 BST May 24
  • SUP 1: $769.00 - Low May 9
  • SUP 2: $762.50 - 50-day EMA
  • SUP 3: $738.25 - Low Apr 5
  • SUP 4: $695.50 - Low Mar 29

Corn futures continue to consolidate and remain below recent highs. The primary trend is up though and the latest pullback is still considered corrective. Attention is on support at $769.00, May 9 low and $762.50, the 50-day EMA. A break of this support zone would signal scope for a deeper pullback. On the upside, $824.50, Apr 29 high, is the bull trigger. A breach of it would instead confirm a resumption of the uptrend.

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.