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(Z2) Uptrend Intact

CORN TECHS
  • RES 4: $766.25 - High May 16 and a key resistance
  • RES 3: $749.25 - High Jul 17 and a key resistance
  • RES 2: $705.50 - High Jun 22
  • RES 1: $683.75 - High Aug 29
  • PRICE: $664.75 @ 14:44 BST Aug 31
  • SUP 1: $638.25/604.00 - 50-day EMA / Low Aug 18
  • SUP 2: $587.50/561.75 - Low Aug 3 / Low Jul 22 and key support
  • SUP 3: $549.00 - Low Jan 12
  • SUP 4: $539.25 - Low Dec 15 2021

The uptrend in Corn futures remains intact. Last week’s gains resulted in the break of the 50-day EMA and a breach of resistance at $642.75, the Aug 12 high. This has strengthened a bullish condition. The continuation higher has also resulted in a break of $658.50, the Jul 11 high. Potential is seen for a climb towards $705.50, the Jun 22 high. On the downside, key support has been defined at $604.00, the Aug 18 low.

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