December21 Corn

December 21 Corn - Weekly: A very wide range of price action that has so far respected the downtrend line since the early May high. There is an abundance of volume by price in the 5.40-5.60 range. The 5.27 low will be key support on a daily close. Support below at 5.20 and 4.98. Further Risk at 4.77- 4.66 and 4.47.
Bulls would like to see a weekly close above the blue Tenkan line at 5.46.
Targets above remain at 5.57 with a primary focus in the 5.73 to 5.94 area.