Corn has been trending sideways for the whole of March. Yesterday held good support at 483/482 & we beat resistance at 487/488 to test the 2 week high
Corn CME May contract Daily Forecast - 28 March 2014Corn has been trending sideways for the whole of March. Yesterday held good support at 483/482 & we beat resistance at 487/488 to test the 2 week high at 492/493. A high for the day exactly here as predicted, but a break higher today cannot be ruled out for a test of March highs at 502/503. Be aware that a break higher would then run in to longer term Fibonacci resistance at 509/510 for a selling opportunity.
Immediate support is 489/488 & could hold the downside but below here a buying opportunity at 485/484 with stops below 481.
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