CZ10 – December Corn (Last:528-6/8)

December Corn (CZ10) price chart with targetsCorn gapped-up limit on Friday, but in the perspective of the daily chart, it was nothing spectacular. To cut the move down to size, I’ll note that the futures appear bound for a 567-6/8 target, a Hidden pivot that comes from the daily chart.  The midpoint resistance at 511.00 was trashed so badly that the target would appear to be a lock.  However, the December contract will need to do somewhat better, exceeding a look-to-the-left peak at 600-4/8 recorded in September of 2008, to refresh the bullish impulse on the weekly chart.