March Corn Futures a Buying Opportunity on More Price Strength

See on the daily bar chart for March corn futures that prices are in a 2.5-month-old uptrend and have this week hit a five-month high. The bulls have good near-term technical momentum to suggest that prices will continue to trend sideways to higher in the near term. A move above chart resistance at this week’s high of $4.14 would become a buying opportunity. The upside price objective would be $4.50 or above. Technical support, for which to place a protective sell stop just below, is located at $4.00. Remember that the “mini” grain contracts are a liquid and viable way to trade the grain markets.

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