C1Z Finding Resistance At 650
Oct 20, 2011
December corn is pushing right up against the 38% retracement of the August 29th high to the October 3rd low. The DEC contract had a strong close today, but was still unable to settle above 650. Another positive day in the market could lead corn to break-out of the consolidation it has been printing for the last week and a half. If a break-out does occur, look for serious resistance around the 675 level. This area was not only an area of choppy trading during July but is at the 50% retracement of September's sell off. To track this contract on your home computer, take a demo of the Firetip platform today!
THERE IS A RISK OF LOSS IN TRADING FUTURES AND OPTIONS. FUTURES TRADING IS NOT APPROPRIATE FOR ALL INVESTORS.
PLEASE READ OUR RISK DISCLOSURE.