Technical forecast for Corn

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Corn for December tried & failed to break 488. We have finally filled the gap at 480 & are holding above here now. We are starting to look oversold short term but any bounce runs in to resistance at 490/491 for a selling opportunity with stops above 493. A surprise break higher could then target 497/498.

A break below 480 in this bear trend always possible & risks a slide as far as 468/467.

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