Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Mon Sep 1, 2014 10:23 AM CDT

Corn: The nearby contract closed 2.00cts higher. After posting a new low of $3.47 3/4 in August the nearby futures contract was able to rally to a higher close. Last month's low was a test of major (long-term) support at $3.43 1/4, a price that marks the 67% retracement level of the sideways trend from $2.90 through the high of $4.50. This range was established from December 2008 through June 2009. Weekly stochastics remain neutral given the initial bullish crossover below the oversold level of 20% at the end of March 2014. A secondary bullish crossover, possible at the end ...

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