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(N3) Remains Above Support

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: $645.75 - High Apr 3 and the bull trigger
  • PRICE: $626.25@ 14:34 BST Apr 12
  • SUP 1: $615.75 - Low Apr 10
  • SUP 2: $604.00 - Low Mar 22
  • SUP 3: $597.00 - Low Mar 10 and a key support
  • SUP 4: $574.25 - Low Jul 22 and a major support

Corn futures maintain a bullish tone despite the latest pullback. The contract traded higher on Apr 3 as price extended the recovery from $597.00, Mar 10 low. Price continues to challenge the 20- and 50-day EMAs - $625.94 and $633.25 respectively. A clear break of this zone would strengthen a bullish theme and open $650.00. Key short-term support is at $615.75, the Apr 10 low. A break of this level would be a bearish development.

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