Free Trial

(Z1) Still Weak

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: $522.75 @ 13:44 BST Sep 3
  • SUP 1: $516.75 - Low Sep 2
  • 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 remain weak following the recent breach of $532.25, Jul 26 low. The break lower exposes support at $507.00, Jul 9 low and $500.25, May 26 low. The latter marks 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. Major resistance is at $638.00, May 7 high. Initial resistance is at $558.00, Aug 30 high.

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.