Continuous Corn

Corn – Weekly Cont: The 5.47 area had the most volume by price since the uptrend began. Did the recent bump give the Funds an opportunity to bail on their longs or does it prove to be an area of accumulation for funds and end users??? Weekly support at 5.21 needs to hold for the weak longs. Further key support at 4.98. Risk is 4.66-4.37. So far the cloud is acting as good support. Any further strength needs to see a weekly close above the 5.44-5.47 resistance. Initial target above 5.47 is at 5.88 and then 6.16.
Current “Market Structure” is very sensitive. Downside Risk is 4.37, Upside Risk is any posted number up to 8.81