May corn futures a buying opportunity on more price strength.
See on the daily bar chart for May corn futures that prices are in an uptrend and on Friday hit a fresh seven-week high. The corn bulls have gained upside technical momentum to suggest still more price gains in the coming weeks. A move above chart resistance at Friday morning’s high of $7.46 1/2 would become a fresh buying opportunity in May corn. The upside price objective would be $7.90, or above. Technical support, for which to place a protective sell stop just below, is located at $7.25. Remember that the “mini” grain futures contracts are a liquid and viable way to trade the grain markets.
