Free Trial

(Z3) Recovery Underway

CORN TECHS
  • RES 4: $637.25- High Oct 14 2022
  • RES 3: $600.75/629.75 - High Jun 26 / 21 and key resistance
  • RES 2: $574.69 - 200-dma
  • RES 1: $562.50 - High Jun 28
  • PRICE: $550.50 @ 12:39 BST Jul 19
  • SUP 1: $481.00 - Low Jul 13
  • SUP 2: $476.00 - Low Oct 13 2021
  • SUP 3: $462.50 - Low Sep 21 2021
  • SUP 4: $442.00 - Low Jul 6 2021

A recovery in underway in Corn futures, with prices rallying over 15% off the recent low. Prices remain below the mid-June highs, but further progress could be made given the convincing break of the 50- and 100-dmas. Additionally, the break and close above the 50-day EMA signals a possible reversal and targets 574.69 initially ahead of key resistance at 629.75.

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.