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- RES 3: $628.25 - High Jun 10
- RES 2: $611.25 - High Jul 1
- RES 2: $594.25 - High Aug 12 and key resistance
- RES 1: $548.50 - High Sep 30
- PRICE: $534 50 13:44 BST Oct 20
- SUP 1: $497.50 - Low Sep 10 and the bear trigger
- SUP 2: $494.00 - 76.4% retracement of the Mar 30 - May 7 rally
- SUP 3: $481.50 - Low Apr 7
- SUP 4: $449.50 - Low Mar 30
The Corn futures outlook is unchanged and remains bearish. MA studies are in a bear mode suggesting recent short-term gains are likely corrective. However, there is a firm support at $500.25 that needs to be cleared to reinforce a bearish theme and also bring to an end a mostly sideways move since early May. This would open $494.00 initially, a Fibonacci retracement. The bear trigger is $497.50, the Sep 10 low. Firm resistance is at $548.50.