Free Trial

(Z1) Key Support Zone Exposed

CORN TECHS
  • RES 4: $644.25 - 0.764 proj of Mar 30 - May 7 - May 26 price swing
  • RES 3: $638.00 - High May 7 and the bull trigger
  • RES 2: $628.25 - High Jun 10
  • RES 1: $611.25 - High Jul 1
  • PRICE: $526.50 @ 13:21 BST Jul 8
  • SUP 1: $514.25 - Low Jun 24
  • SUP 2: $500.25 - Low May 26
  • SUP 3: $481.50 - Low Apr 7
  • SUP 4: $449.50 - Low Mar 30

Corn futures remain weak. The rejection off the Jul 1 high of $611.25 brings to an end the recent recovery. Instead, a stronger bearish theme appears to be forming and attention shifts to the key support at $514.25, Jun 24 low and 500.25, May 26 low. A break of this support zone would signal scope for a deeper pullback. On the upside, a break of $611.25, Jul 1 high is required to ease the current bearish threat.

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.