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Commodity Trading Discussion Forum

Corn (CBOT) : Critical Resistance 634.75

Posted By: Qindex
Date: Saturday, 10 May 2008, at 10:01 p.m.

Corn (CBOT) : Critical Resistance 634.75

Normal Lower Limits : 522.75 - 575.50 - 586.00*
Lower Mid-Point References : 560.25 - 604.50 - 610.25*
Weekly Cycle Pivot Center : (597.75) - (633.75) - (634.75*)
Upper Mid-Point References : 635.25 - 659.25* - 663.00
Normal Upper Limits : 672.75 - 683.50* - 692.25

Weekly Cycle Congested Area : 551.00 - 579.00 - (606.75 - 634.75* - 662.50) - 690.50 - 718.25.

Remarks : As shown in the monthly cycle projected series the market was able to pick up support at the lower barrier of 569.00 // 576.25. It went all the way to 627.00 and then closed at 618.50. The market is now at the center of the monthly cycle projected series and it may vibrate around 618.75 with an expected magnitude of 611.75 - 625.75 before it will charge ahead to tackle the upper targets at 633.00 and 661.25. A projected resistant level is located at 699.50 - 703.75. The odds are in favor of maintaining a long position when the market is trading above 596.00. The weekly cycle congested area indicates that the market has a tendency to trade within (606.75 - 634.75* - 662.50).

Corn : Monthly Cycle Charts
http://www.qindex.com/corn.html
Albert Cheung (Ph.D.)

Corn : Monthly Cycle Charts

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