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Corn CME December contract Daily Forecast – 16 October 2014

By:
FX Empire Editorial Board
Updated: Aug 25, 2015, 01:00 UTC

Corn unable to beat the target of 358 almost perfectly. This has held for 2 days & should see prices turn lower in to the end of the week. Watch the

Corn CME December contract Daily Forecast – 16 October 2014

Corn CME December contract Daily Forecast - 16 October 2014
Corn CME December contract Daily Forecast - 16 October 2014
Corn unable to beat the target of 358 almost perfectly. This has held for 2 days & should see prices turn lower in to the end of the week. Watch the key level of 348 today. Failure to beat 348 should trigger a move lower towards support at 344/343 which could hold the downside but below here targets 339/338 then a buying opportunity at 336/335, with stops below 332.

Above 349 is more positive for today & opens the door to 352/354 before a retest of 2 day highs at 358. We should struggle here again today but on a break higher look for a selling opportunity at 364/365 with a high for the recovery expected. Exit longs & try shorts with stops above 368. An unexpected break higher targets 370/371 then 379/380.

Corn 2
Corn 3

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FX Empire editorial team consists of professional analysts with a combined experience of over 45 years in the financial markets, spanning various fields including the equity, forex, commodities, futures and cryptocurrencies markets.

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