Corn Futures

12 oct

• 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.