Corn CME: Yesterday's Levels Still Apply
Jason Sen | Nov 26, 2014 07:33AM ET
For Corn, same levels apply for today as they did yesterday. We must now hold above 371/370 in the seven-week Bull trend recovery and break above 374/375 to target strong resistance at 378. We could struggle, but a break higher is not out of the question eventually this week and targets 381/382. There's a good chance of a high for the day here today but be ready to go with a break higher to target 835/386 followed by November highs at 389.
Immediate support is currently at 371/370 but below here is likely to retest support at 366/365. It should be wise to exit any shorts at this point and try longs from here down to that important 100 day moving average support at 361. Only a break and close below here turns the outlook negative.
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