July Corn Futures a Buying Opportunity on More Price Strength
See on the daily bar chart for July corn futures that prices this week hit a seven-month high. Prices Monday closed at a bullish monthly and quarterly high close as the bulls are in firm technical command and still have upside momentum. A move above chart resistance at Tuesday’s high of $5.12 1/2 would become a buying opportunity. The upside price objective would be $5.50, or above. Technical support, for which to place a protective sell stop just below, is located at $4.93. Remember that the “mini” grain futures contracts are a liquid and viable way to trade the grain markets.
