A child eating an ear of corn - by vikvarga via Pixabay

Corn Futures are Showing Promise

Trent Klarenbach Klarenbach Research Mon Dec 2, 8:13PM CST
A child eating an ear of corn - by vikvarga via Pixabay

Trent Klarenbach analyzes the corn futures market as of December 2nd, 2024.

He discusses past price movements concerning technical indicators like the 50-day and 200-day moving averages, predicting a potential bullish trend if a 'golden cross' occurs.

The analysis includes chart evaluation using TradingView, focusing on price action and anchored volume-weighted average price (VWAP) lines.

Click here to watch our video analysis:

 

Video Timestamps

 

00:00 Introduction to Corn Futures

00:12 Analyzing the Corn Futures Chart

00:41 Price Movements and Moving Averages

01:42 Future Price Predictions

02:22 Potential Resistance Levels

02:59 Conclusion and Final Thoughts

Corn Futures Daily Chart

 

 

 

Video Summary

 

Price Overview

  • Corn futures are trading at $433.50 (+0.23%), showing continued recovery from recent lows.

Key Resistance

  • The chart indicates a critical resistance level at $442.10. A break above could signal further bullish momentum.

Support Zone

  • Strong support is evident around $426.33, providing a buffer against downside risk.

Technical Indicators

  • Moving averages are converging, suggesting potential for a bullish breakout if momentum persists.

Risk Management

  • Traders should closely monitor Fibonacci retracements and price movements for entry and exit signals.

Sentiment Rating

 

  • Bullish above 420 to possible resistance at 440-442

  • Bearish below 420

Trent Klarenbach, BSA AgEc, publishes the Klarenbach Grain Report and the Klarenbach Special Crops Report.

                                                                                                                                                                                                                                                                                                                                                                                                                                 

Klarenbach Research

                                                                                                                                                                                                                                                                                                                                                                                                                                                                    

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On the date of publication, Trent Klarenbach did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.