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CBOT corn is expected to rebound slightly in the short term, with the target set at.....
Pivot point: 424.00. Probable scenario: bullish above support level of 424.00. Low probability scenario: if it falls below 424.00, it will continue to trend downward with targets at 422.25 and 420.50. Market commentary: RSI technical indicator is above 50. MACD technical indicator is above its signal line. Additionally, looking at the 30-minute chart, the price is below its 50-period moving average (429.31) but above its 20-period moving average (426.73). Resistance reference: 436.75**, 435.00*, 432.00**, 431.00. Support reference: 425.75, 424.00**, 422.25*, 420.50** (The above analysis is from Trading Central. * represents the strength of support and resistance levels, for reference only.)