Market Overview

Technical Forecast for Corn

Share:
Technical Forecast for Corn

 


Corn rocketed higher through 664/665 to retest resistance at 673/674. We should struggle here today but a break higher cannot be ruled out and could target the 100 day moving average & Fibonacci resistance at 686/687. We will look very overbought short term at this stage so use this as a selling opportunity with stops above 690.


 


Failure to break higher through 674 is likely to see a drift lower towards support at 665/664. Look for a low for the day here & what may a good buying opportunity but we need stops on longs below 662.

The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: Technicals Commodities Markets Trading Ideas

 

Related Articles

View Comments and Join the Discussion!