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Corn Looks To Improve In Coming Weeks

Published 09/27/2016, 11:28 AM
Updated 07/09/2023, 06:31 AM

Corn continues to extend the bounce from the USD301 low of August, with prices pushing above the USD340 break level to reach USD342.25.

Improving momentum studies and the developing bull signal on the rising Tension Indicator suggest potential for still further gains in the coming weeks, with the USD350 previous monthly support level and the USD354 retracement to attract.

Any corrective pullbacks should stabilize above congestion around USD320, as investor sentiment continues to improve and background studies turn up.

However, if broken, not seen, focus will turn back to the USD312.25 low of 6 September, as investors turn cautious once again.

Corn

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