March corn futures a buying opportunity on more price strength.
See on the daily bar chart for March corn futures that prices have made an impressive rebound from the recent low, including a bullish “key reversal” up scored last week. The bulls have gained upside momentum to suggest that a seasonal “harvest low” is in place. A move above technical resistance at $4.50 would become a buying opportunity. The upside price objective would be $5.00 or above. Technical support, for which to place a protective sell stop just below, is located at $4.30. Remember that the “mini” grain futures contracts are a liquid and viable way to trade the grain markets.
