Corn CME May contract Daily Forecast – 07 March 2014

Get Forex buy/sell signals directly to your email and by SMS.
To learn more click here

Corn CME May contract Daily Forecast - 07 March 2014

Corn CME May contract Daily Forecast - 07 March 2014

Corn May held 200 day moving average support at 479/478 to hit our target of 492/493. We topped exactly here but over night have continued higher to 496. There is no reason to stand in the way of this bull run despite the overbought conditions & we look for a test of longer term Fibonacci resistance at 501/502. A good chance of a high for the day here but a break higher cannot be ruled out & could target 506/507. Bear in mind a weekly close above 502 is positive for next week.

Immediate support is 490/489 today & could hold the downside but below here a buying opportunity at 485/484.

Written by:

Corn 2

Corn 3

Want to read more articles like this one?
Enter your e-mail address and read FX Empire content directly from your inbox.
We value your privacy. Your e-mail address will not be shared.
About: Jason Sen

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens. Jason always had an interest in technical analysis throughout his trading career but began to study this area in depth from 2006. This led to him found his research company which quickly established itself as the leading provider of daily technical analysis to independent and professional traders within the investment bank community. For many years now, Jason has been advising dozens of traders at up to 15 major investment banks and hedge funds on market movement, hour by hour throughout each trading day on The Bloomberg Professional® service. He provides trade ideas with entry, exit and target levels in daily reports which are published before the Futures markets open in Europe.

  View all of Jason Sen's Articles    
Share Your Thoughts: Post a Comment

Your email address will not be published.