Corn Futures
- Prices tested the upper Bollinger Band near 4400 in late September and early October, which acted as resistance.
- The market has since pulled back from this level, signaling a rejection of higher prices at this point.
- The price is now around 4156, and the 4100 level seems to be acting as a near-term support.
- The widening of the Bollinger Bands in the past months suggests increased volatility, especially during the downtrend.
- The market appears to be in a corrective phase after a sharp downtrend, with potential support around 4100 and resistance near 4400.
- A break below 4100 could signal a continuation of the downtrend, while a breakout above 4400 might suggest further recovery toward higher levels.
- Watch for narrowing Bollinger Bands, as this could signal a volatile move in the near future.
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