Corn Outlook Remains Negative
Jason Sen | May 13, 2015 07:42AM ET
Corn's outlook negative and below 360/359 risks a retest of support at last week's low of 355/354. If this does not hold the downside this week look for 351/350 before a retest of contract lows at 348/347. A close below triggers further selling pressure this week.
First resistance at 364 again today but above here look for a selling opportunity at 368/369. Try shorts with stops above 5 week trend line resistance at 371. A break higher however is a buy signal and targets resistance at 374/375 perhaps later in the week and maybe make it as far as 380/381 for a selling opportunity.
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