Corn Futures Revisit the Scene of the Crime
The Scene of the Crime
Previous support and last week's breakdown point from 747-750 will now act as first resistance form July corn. The recent trend of lower highs and lower lows keeps the advantage in the Bears favor. Consecutive closes above resistance could neutralize the technical damage and take prices back to the recent lower high, 775. Crop progress will be out this afternoon which could set the tone for the overnight trade.
Previous support and last week's breakdown point from 747-750 will now act as first resistance form July corn. The recent trend of lower highs and lower lows keeps the advantage in the Bears favor. Consecutive closes above resistance could neutralize the technical damage and take prices back to the recent lower high, 775. Crop progress will be out this afternoon which could set the tone for the overnight trade.