Corn (C, May) : The market failed to overcome the projected resistance at 202.50. It is now moving away from the weekly cycle "super magnet" located at 201.75. In the mean time the market is going to vibrate around the supporting point at 195.50 with an expected magnitude of 192.25 - 198.50.
Corn : Weekly Cycle Analysis
Posted By: Dr. Albert Cheung Date: Saturday, 7 May 2005, at 3:46 a.m.
Corn (S, CBOT) : Weekly Cycle
The market is likely to trade between 195.50 - 205.00 initially next week. The odds are high that it will tackle the barrier at 201.75 - 202.50 first. The weekly cycle limits and key quantized levels are as follow :- 189.00 - 195.50 - 201.75* - 208.25 - 214.75. The mid-point reference of the series is defined as the "Super Magnet" in my system. The market has a strong momentum if it can move away from the "Super Magnet".
