Technical forecast for Corn

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Corn tested good support at 477/476 & saw a low for the day as predicted. We bounced to resistance at 484/485 which did hold the topside as expected. However a break higher could target 492/493 for selling opportunity with stops above 496.

Good support at 477/476 again today but a break lower should fill the gap at 472. Look for a buying opportunity from here down to 470 with a bounce expected.

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