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CORN Futures - Watching 18.30 Resistance
Been keeping an eye on $CORN futures this morning, and it's quite interesting how it's bumping right up against that 18.30 level. We saw it poke up to 18.295 earlier, just shy of that psychological and technical resistance point. If we can get a sustained break above 18.30, that could signal a bit more upside potential, perhaps even a retest of some higher levels from last week. However, the risk here is pretty clear: a failure to break and hold above 18.30, especially if we see a rejection and a move back towards the day's low of 18.045, would suggest that resistance is holding firm, and we might see a bit of a pullback or consolidation before another attempt. Just my two cents, always room to be wrong on these things.
1 comments · 1 points
Agree, 18.30 is a key level. I'm watching for volume on any breakout, otherwise it could be a fakeout. What are your thoughts on the macro picture for corn?