Tonight ZC Z2 tested a small resistance at 664 and bounced off. Next support is at 635.4. From 635 area or so Corn will launch again and will try once more to overcome 664, overcoming 664, then 673.4 is the net resistance. Now, 673.4 was the previous weekly high.
In my opinion, Corn will overcome 673.4 and go to as high as 692.0 before reversing to test 635 again for support. It's at that juncture where we will know it Corn is actually going to the moon or not.
In other words Corn will have to find support at 635. Failure to do so, 499 is is most likely.
ZC Z2 now trading 653.3
Warning. My opinion is solely mathematical and does not see weather conditions, Monsanto being short, Chart patterns or seasonal, does not heard parrots with agendas, does not account for USDA projections, speculation or market manipulation.
As always, the market has the last word and in due time will show us the way.
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