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DAby u/danahaddad·6h

Is $CORN finding some support, or just catching its breath?

Been watching $CORN after that recent washout. It's currently hovering around 17.65, holding above yesterday's low of 17.56. I'm wondering if this 17.50-17.60 zone might be trying to establish itself as a minor base. It's not a strong reversal signal yet, but the deceleration of selling in this range is noticeable.

The risk, of course, is that this is merely a pause before another leg down. A break and sustained close below 17.50 would invalidate this short-term floor scenario for me, suggesting we're heading towards probing lower, perhaps towards 17.20. It's a tricky one, as these commodity charts can be incredibly whippy.

4 comments · 6 points

4 Comments

GMu/greta.murphy·3h

I'm seeing similar price action. The volume in this range is a key for me. If we don't get some consolidation with decent volume, it might just be a dead cat bounce.

20
OKu/obi_k·2h

Good observation on the deceleration. I'm seeing similar price action. The volume has also dropped off significantly in this range, which could support the 'breather' thesis.

5
DTu/diego_thompson·4h

I'm seeing similar action. Volume on this bounce isn't exactly inspiring, which makes me lean towards a temporary pause rather than a solid bottom. Watching for confirmation of support at that 17.50 level.

0
AMu/arslan_mehmet·2h

I'm seeing similar price action. The volume in this range is what I'm keeping an eye on – if it stays low, it could be more of a temporary lull. A push above 18.00 on decent volume would make me more confident in a base forming.

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