NEWS
Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Sun Nov 23, 2014 10:23 AM CST

Corn (Cash): The DTN National Corn Index (NCI.X, national average cash price) closed at $3.41, down 4 cents for the week. Despite the lower weekly close, the secondary (intermediate-term) trend remains up. The NCI.X continues to hold above support at $3.27, a price that marks the 33% retracement level of the initial rally from the low of $2.81 through the recent high of $3.33. Resistance remains at $3.50, the 33% retracement level of the previous secondary downtrend from $4.86 through the $2.81 low. Given the bearishness of the carry in the December to May forward curve, it could be difficult ...

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