Free Trial

(N3) Bear Cycle Still In Play

CORN TECHS
  • RES 4: $677.50 - High Dec 30
  • RES 3: $671.75 - High Jan 26, 31 and Feb 2
  • RES 2: $650.00 - Pivot level
  • RES 1: $630.88/647.50 - 50-day EMA / High Apr 18
  • PRICE: $609.25 @ 13:44 BST Apr 26
  • SUP 1: $601.00 - Low Apr 25
  • SUP 2: $597.00 - Low Mar 10 and a key support
  • SUP 3: $574.25 - Low Jul 22 and a major support
  • SUP 4: $568.75 - Low Jan 21 2022

Corn futures have traded lower this week, extending last week’s bearish theme. Support at $615.75, the Apr 10 low, has been breached. The break is a bearish development and highlights potential for an extension lower towards $597.00, the Mar 10 low. On the upside, key short-term resistance has been defined at $647.50, the Apr 18 high. Clearance of this hurdle would reinstate the recent bullish theme.

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.