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2025-09-12 16:08:58
[Analyst: CBOT Corn May Test $4.16-3/4 Support] ⑴ CBOT December corn futures may test the $4.16-3/4 support level per bushel. ⑵ A break below this support level could lead to a further decline to the $4.13 level. ⑶ The contract failed to break through the $4.20-1/4 resistance level and failed to maintain above the upper trendline of the wedge pattern. ⑷ This failed breakout increases the likelihood of a decline to $4.16-3/4. ⑸ A break above $4.20-1/4 could lead to a rise to the $4.22-3/4 to $4.24-1/2 range. ⑹ The daily chart shows the contract trading neutrally in the $4.15 to $4.25-1/4 range. ⑺ A break below $4.15 would confirm the continuation of the downward trend, while a break above $4.25-1/4 could push prices towards the $4.31-1/4 to $4.35-3/4 range.
