Corn
Technicals (September): September corn futures didn’t see much follow-through early in the overnight session but are firming up this morning, taking out yesterday’s highs. Previous resistance is now support, that comes in from 586-589. If the Bulls can continue to defend this pocket, we could see an extension of the relief rally take us to the 624-630 area. This pocket represents many previously important price points as well as the 200-day moving average.
Bias: Bullish/Neutral
Previous Session Bias: Bullish/Neutral
Resistance: 624-630***, 645-652 ½***
Pivot: 586-589
Support: 574 ¼-579 ¼**, 542 ¼-547 ¾***
Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
Technicals (September): September corn futures didn’t see much follow-through early in the overnight session but are firming up this morning, taking out yesterday’s highs. Previous resistance is now support, that comes in from 586-589. If the Bulls can continue to defend this pocket, we could see an extension of the relief rally take us to the 624-630 area. This pocket represents many previously important price points as well as the 200-day moving average.
Bias: Bullish/Neutral
Previous Session Bias: Bullish/Neutral
Resistance: 624-630***, 645-652 ½***
Pivot: 586-589
Support: 574 ¼-579 ¼**, 542 ¼-547 ¾***
Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.