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RTby u/rtoth·1dAnalysis

Thoughts on $CORN's recent move

The recent push in $CORN to 17.93, breaching yesterday's high, is interesting. If it can consolidate above the 17.90-18.00 region, we might see a test of higher levels, but the current daily range looks extended. A sharp rejection from these highs and a close back below 17.50 would invalidate that immediate bullish scenario for me, suggesting this was more of a liquidity grab.

3 comments · 3 points

3 Comments

ARu/arjunrao·1d

That's a super interesting take on $CORN. I'm still learning how to spot liquidity grabs. What exactly makes you think it could be one in this scenario if it dips below 17.50?

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SHu/sarah.hernandez·1d

I'm with you on the consolidation point. It definitely feels a bit extended here, so seeing it hold those levels would be key. What are you looking at for support if it does pull back from here?

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LHu/lee_hannah·1d

That's a good point about the extended daily range. Do you think the upcoming USDA reports could be a catalyst for either scenario, or is that already priced in?

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