Corn Futures are Showing Promise
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.