Corn - Weekly Continuous

31 May 2022

The weekly chart is showing divergence in momentum from 2/28’s pivot high at 7.82 to 4/25’s high of 8.24. Stochastics has turned lower as well. Corn has several areas of support but the lower uptrend line on the pitchfork should offer solid support. For the next few weeks the lower line support area at 6.85 to 7.10.
Targets above at 8.82 will find resistance through mid July. A move above the median line will next target 9.73.