In the previous post I said that Corn need it to find support at 568.2 and move above 599.2 in order to be back in bullish mode. C N2 did found support few days back (at 551.0) and was able to move back up, closing yesterday at 599.4.
In the monthly chart Corn has a potential to move up and test last year's high 799.0 and possibly higher to as high as 1070.0
The first objective and S/R to overcome is 688.0 Then from that it's most likely that at list a test of last year's high be possible. Please keep in mind that I'm talking about a monthly chart. It will take months for the objectives to be reach.
Base on previous history, as Corn gets near 688 there could be monthly swings either way of about 100 points or more,
Warning: My opinion is base on a mathematical projection and does not account for: weather conditions, market manipulation, speculation, USDA projections, or parrot's stories.
If Corn was to move below 540.0 will void the above.
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