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BRENT TECHS

(G2) Strong Rebound From Yesterday’s Low

EQUITY TECHS

E-MINI S&P (Z1): Bearish Threat Remains

(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.

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com