Market Overview

Technical Forecast for Corn

Technical Forecast for Corn


Corn broke 420/419 & as we warned the outlook remains weak, a break below 415 was seen & the 1 year bear trend continues as we hit the next target of 412/11. We bottomed almost exactly here in fact but with no sign of a bottom we could continue lower this week to 408, 404 & then contract lows at 402/401 which have not been seen since June 2010.


Resistance at 415/16 could hold a move higher but above here look for a selling opportunity at 420/421 with stops above 423.

The preceding 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


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