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- 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: $586.25 - High Jun 15
- PRICE: $548.00 @ 13:17 BST Jun 18
- SUP 1: $530.50 - Low Jun 17
- SUP 2: $500.25 - Low May 26 and key support
- SUP 3: $481.50 - Low Apr 7
- SUP 4: $449.50 - Low Mar 30
Corn futures started the week on a softer note and the contract remains vulnerable. The move lower this week has resulted in a break of both the 20- and 50-day EMAs. A clear breach of these averages strengthens the current bearish case and signals scope for a deeper retracement. An extension lower would open $500.25, the May 26 low and a key support. On the upside, initial resistance is seen at $586.25, Jun 15 high.