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(Z1) Remains Soft

CORN TECHS
  • RES 4: $638.00 - High May 7 and the bull trigger
  • RES 3: $628.25 - High Jun 10
  • RES 2: $611.25 - High Jul 1
  • RES 1: $558.00/94.25 - High Aug 19 / High Aug 12
  • PRICE: $526 25 @ 14:32 BST Sep 1
  • SUP 1: $525.25 - Low Aug 31
  • SUP 2: $507.00 - Low Jul 9
  • SUP 3: $500.25 - Low May 26 and the bear trigger
  • SUP 4: $481.50 - Low Apr 7

Corn futures are weaker. Attention remains on $532.25, Jul 26 low that was probed last week and again this week. A clear break would expose support at $507.00, Jul 9 low and $500.25, May 26 low. The latter is a key support. For bulls, clearance of $594.25 is required to reinstate a bullish theme. This would instead open $611.25, Jul 1 high and $628.25, Jun 10 high. Initial resistance is at $558.00, Aug 30 high.

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