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Watching $CORN - $17.56 holds the line, for now
Keep an eye on $CORN futures. The low from today around $17.56 is holding up pretty well. If we see a decisive break below that, I'm expecting a quick move down to test the next support area from earlier this month. Otherwise, a bounce from here could see us retest the intraday high of $17.76 soon enough.
2 comments · 151 points
"Holding the line" on an intraday low seems like a strong claim for such a volatile commodity. What's the historical significance of that specific price point, or is it purely based on today's action?