AGL 5.27 Decreased By ▼ -0.23 (-4.18%)
ANL 8.45 Decreased By ▼ -0.04 (-0.47%)
AVN 75.82 Increased By ▲ 0.02 (0.03%)
BOP 5.15 Decreased By ▼ -0.09 (-1.72%)
CNERGY 4.41 Decreased By ▼ -0.01 (-0.23%)
EFERT 81.30 Decreased By ▼ -0.33 (-0.4%)
EPCL 49.29 Decreased By ▼ -0.41 (-0.82%)
FCCL 12.40 Decreased By ▼ -0.39 (-3.05%)
FFL 5.51 Increased By ▲ 0.01 (0.18%)
FLYNG 6.82 Increased By ▲ 0.09 (1.34%)
FNEL 4.68 Decreased By ▼ -0.02 (-0.43%)
GGGL 9.27 Increased By ▲ 0.85 (10.1%)
GGL 14.88 Increased By ▲ 0.93 (6.67%)
HUMNL 6.18 Increased By ▲ 0.10 (1.64%)
KEL 2.57 Increased By ▲ 0.01 (0.39%)
LOTCHEM 27.73 Increased By ▲ 0.08 (0.29%)
MLCF 23.57 Decreased By ▼ -0.22 (-0.92%)
OGDC 71.91 Increased By ▲ 0.81 (1.14%)
PAEL 15.13 Increased By ▲ 0.10 (0.67%)
PIBTL 4.83 Decreased By ▼ -0.07 (-1.43%)
PRL 15.66 Decreased By ▼ -0.32 (-2%)
SILK 1.07 Decreased By ▼ -0.03 (-2.73%)
TELE 8.85 Increased By ▲ 0.03 (0.34%)
TPL 7.34 Increased By ▲ 0.26 (3.67%)
TPLP 19.49 Increased By ▲ 0.23 (1.19%)
TREET 21.08 Increased By ▲ 0.23 (1.1%)
TRG 137.25 Increased By ▲ 0.65 (0.48%)
UNITY 16.30 Decreased By ▼ -0.25 (-1.51%)
WAVES 9.35 Increased By ▲ 0.10 (1.08%)
WTL 1.38 Increased By ▲ 0.03 (2.22%)
BR100 4,164 Increased By 6.3 (0.15%)
BR30 15,350 Increased By 10.3 (0.07%)
KSE100 41,698 Increased By 46.7 (0.11%)
KSE30 15,402 Increased By 22.3 (0.15%)
Markets

CBOT corn may test resistance at $5.60-1/4

  • A break below $5.43 could be followed by a drop towards $5.25-1/4.
Published March 17, 2021
Follow us

SINGAPORE: CBOT May corn may test a resistance at $5.60-1/4 per bushel, a break above which could open the way towards $5.65-1/4.

The current rise seems to be observing the retracements on the fall from $5.72 to $5.23-1/4.

After rising above the resistance at $5.53-1/4, the contract has a better chance of gaining more towards $5.60-1/4.

A break below $5.53-1/4, now a support, may cause a fall to $5.47-1/2. However, the impact of the break could be much more greater than triggering a shallow drop. It could help resume the downtrend from $5.72.

On the daily chart, a triangle has been confirmed. It indicates a target of $5.85. Strategically, the target will be available when corn breaks $5.58.

A break below $5.43 could be followed by a drop towards $5.25-1/4.

Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.

Comments

Comments are closed.

CBOT corn may test resistance at $5.60-1/4

Reko Diq mining project: Settlement with Barrick Gold endorsed by SC

Economy: Dar, others take stock of situation

CDA seals Azam Swati’s Islamabad farmhouse

Xi calls for oil trade in yuan

Unilateral hike in rates of SEZs’ plots disallowed

Pakistan 202 all out in Multan, England lead by 79

Russia could cut oil production over West’s ‘stupid’ price cap

Oil rebounds, but still on track for biggest weekly declines

ECs: SBP further tightening data reporting mechanism

Wapda asked to shift troops from Dasu hospital