Corn futures had a strong close last week, breaking the psychological level of $4.00 and managing to close above that level. This gave a bullish signal to the market, sending Jul-18 futures above $4.07. The next resistance level is holding around $4.08 while $4.00 has become support. Further support is holding around the 50-day moving average near $3.95. MACD is about to give a bullish signal, while other indicators are neutral, such as RSI at 53.4 percent.
Jul-18 corn futures
Source: Prophet X
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