Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Sat Feb 21, 2015 10:46 AM CST

Corn (Cash): The DTN National Corn Index (NCI.X, national average cash price) closed at $3.64, down $0.01 for the week. The secondary (intermediate-term) trend remains down with the last signal a bearish crossover by weekly stochastics the week of December 29. After falling to a low of $3.44, a test of technical support at $3.47, the NCI.X has moved sideways. The last two weeks has seen a test of resistance between $3.62 and $3.68, prices that mark the 50% and 67% retracement levels of the initial selloff from $3.80 through the $3.44 low. Weekly stochastics remain neutral to bearish.

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