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(Z2) Watching The 50-Day EMA

CORN TECHS
  • RES 4: $749.25 - High Jul 17 and a key resistance
  • RES 3: $705.50 - High Jun 22
  • RES 2: $658.50 - High Jul 11
  • RES 1: $633.63 - 50-day EMA
  • PRICE: $627.25 @ 13:44 BST Aug 12
  • SUP 1: $561.75 - Low Jul 22
  • SUP 2: $549.00 - Low Jan 12
  • SUP 3: $539.25 - Low Dec 15 2021
  • SUP 4: $508.00 - Low Oct 13 2021

Corn futures are firmer but for now, remain below resistance at the 50-day EMA - the average intersects at $633.63. The broader trend direction remains down and attention is on support at $561.75, the Jul 22 low and bear trigger. A break would resume the downtrend and maintain the bearish price sequence of lower lows and lower highs. On the upside, a clear break of the 50-day EMA, would alter the picture.

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  • RES 4: $749.25 - High Jul 17 and a key resistance
  • RES 3: $705.50 - High Jun 22
  • RES 2: $658.50 - High Jul 11
  • RES 1: $633.63 - 50-day EMA
  • PRICE: $627.25 @ 13:44 BST Aug 12
  • SUP 1: $561.75 - Low Jul 22
  • SUP 2: $549.00 - Low Jan 12
  • SUP 3: $539.25 - Low Dec 15 2021
  • SUP 4: $508.00 - Low Oct 13 2021

Corn futures are firmer but for now, remain below resistance at the 50-day EMA - the average intersects at $633.63. The broader trend direction remains down and attention is on support at $561.75, the Jul 22 low and bear trigger. A break would resume the downtrend and maintain the bearish price sequence of lower lows and lower highs. On the upside, a clear break of the 50-day EMA, would alter the picture.