Corn CME December contract Daily Forecast – 05 July 2013

Corn CME December contract Daily Forecast - 05 July 2013
Corn CME December contract Daily Forecast - 05 July 2013
Corn for December did fill the gap at 510 as hoped but sold off from here. Failure to hold above 507 saw a retest of 500/499 as expected 7 we are hovering just above here. Below here though a retest of 497 lows looks likely. A break lower today cannot be ruled out and could target 491/490.

507 is immediate resistance then yesterday’s high at 510. Above here however we should see a move towards resistance at 513/514. A high for the day is expected if we reach this far. However a push through the next resistance at 519 signals a move towards strong resistance at 524/525 for a selling opportunity this week.

Written by: http://www.daytradeideas.com

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