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Corn: Strong Resistance At 365/366

Published 01/04/2016, 03:04 AM
Updated 07/09/2023, 06:31 AM
ZC
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Corn Weekly Chart

Corn March first resistance at 362/363 is a big challenge for bulls today but there is also strong resistance at 365/366. Only a break above 367 is a buy signal and targets minor resistance at 369 then strong resistance at 370/371. Use this as a selling opportunity with stops above 372.

Failure to beat strong resistance at 363 risks a slide back to December lows at 358/357. However outlook is quite negative despite oversold conditions so be ready to sell a break below here to target 354 and perhaps as far as 350/349. If we continue lower this week look for 346 and 343/342.

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