Free Trial

(Z3) Corrective Cycle Remains In Play

CORN TECHS
  • RES 4: $629.75 - 21 and key resistance
  • RES 3: $600.75 - High Jun 26
  • RES 2: $572.25 - High Jul 24 and bull trigger
  • RES 1: $507.50/47.56 - High Aug 11 / 76.4% Jul 24 - Sep 19 bear leg
  • PRICE: $489.00 @ 13:44 BST Oct 17
  • SUP 1: $467.75/462.50 - Low Sep 19 / Low Sep 21 2021
  • SUP 2: $458.63 - 0.764 proj of the Jun 21 - Jul 13 - Jul 24 price swing
  • SUP 3: $442.00 - Low Jul 6 2021
  • SUP 4: $423.50 - 1.00 proj of the Jun 21 - Jul 13 - Jul 24 price swing

A bearish theme in Corn futures remains intact and recent gains appear to be a correction. Resistance has been defined at $507.50, the Aug 11 high. If cleared, it would suggest scope for a stronger short-term recovery. On the downside, the bear trigger has been defined at $467.75, the Sep 19 low. A break would confirm a resumption of the downtrend and open $462.50, the Sep 21 2021 low.

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.