Technical forecast for Corn

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Corn for December managed to hold support at 543 & we have stabilised above 549 as we look to close the gap up to 553/554. The outlook for the rest of the week is quite negative still so this could be a selling opportunity here today. However a push above 555 could allow further gains towards 560/561. Exit longs & try shorts here with stops above 564.

Below 548 is more negative for today’s session & should target support at 543/542 once again. A break lower through 541 cannot be ruled out and could target very good support at 536/535. We should look oversold short term here so exit shorts & try longs with stops below 532.

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens. Jason always had an interest in technical analysis throughout his trading career but began to study this area in depth from 2006. www.daytradeideas.com has established itself as the leading provider of... More