MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1854 Thurs; -1.13% Y/Y

MNI BRIEF: Ontario To Cut U.S. Energy Flows When Tariffs Hit

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI BRIEF: US Budget Deficit $367B In Nov; FYTD Record $624B

MNI China Daily Summary: Wednesday, December 11

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

EZ/UK Bond Supply Calendar: BTP Auction on Thursday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

(N3) Fails To Remain Above The 50-Day EMA

CORN TECHS
  • RES 4: $677.50 - High Dec 30
  • RES 3: $671.75 - High Jan 26, 31 and Feb 2
  • RES 2: $647.50 - High Apr 18
  • RES 1: $606.75 - High May 26
  • PRICE: $583.00 @ 14:30 BST May 31
  • SUP 1: $547.00 - Low May 18 and the bear trigger
  • SUP 2: $536.25 - 1.382 proj of the Dec 30 - Mar 10 - Apr 128 swing
  • SUP 3: $526.75 - 1.50 proj of the Dec 30 - Mar 10 - Apr 128 swing
  • SUP 4: $517.25 - 1.618 proj of the Dec 30 - Mar 10 - Apr 128 swing

Corn futures traded higher Friday, extending the recent bull run. The move higher resulted in a breach of the 20- and 50-day EMAs. However, price has failed to remain above the 50-day EMA, which intersects at $601.75. The medium-term trend is down and a continuation lower would expose key support and the bear trigger at $547.00, May 18 low. On the upside, a break of $606.75, the May 26 high is required to signal scope for a stronger rally.

Energy BulletsCommodities
Energy BulletsCommodities

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.