December corn futures a buying opportunity on fresh price strength.
See on the daily bar chart for December corn futures that prices have made a good rebound from the recent low, including negating a downtrend line. See, too, that the shorter-term moving averages I follow (9- and 18-day) have just produced a bullish line crossover signal, whereby the 9-day crossed above the 18-day moving average. The bulls have gained some upside technical momentum recently. A move above chart resistance at $4.75 would reinvigorate and bulls and it would also become a buying opportunity. The upside price objective would be $5.25 or above. Technical support, for which to place a protective sell stop just below, is located at $4.55. Remember that the “mini” grain futures contracts are a liquid and viable way to trade the grain markets.
