Corn:
Price follows our preferred path reasonably well and we keep our bias unchanged to the upside. Price could extend the pullback that it started last Thursday a bit further early next week but is expect to resume its uptrend latest by Wednesday and possibly earlier. There is an ascending resistance trend line on the upside that starts at 356.5 and ends at 360 during the coming week which, if broken to the upside, will allow price to accelerate drastically. Nothing changes in our outlook, expectations and preferred path except that we have increased our pivotal support level to 325. If price would break that support we would have to reconsider our bull bias for this price and go back to our drawing board.
Price follows our preferred path reasonably well and we keep our bias unchanged to the upside. Price could extend the pullback that it started last Thursday a bit further early next week but is expect to resume its uptrend latest by Wednesday and possibly earlier. There is an ascending resistance trend line on the upside that starts at 356.5 and ends at 360 during the coming week which, if broken to the upside, will allow price to accelerate drastically. Nothing changes in our outlook, expectations and preferred path except that we have increased our pivotal support level to 325. If price would break that support we would have to reconsider our bull bias for this price and go back to our drawing board.