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Corn: Severely Oversold Conditions

Published 07/21/2014, 02:25 AM
Updated 07/09/2023, 06:31 AM

Corn Weekly Chart

Corn unable to beat 394/395 last week as expected and despite the severely oversold conditions we retest the lows at 379/378 on Friday. Outlook remains negative this week on a break below 377 and keeps the market under pressure to targets 375 then 368/367 today.

If we can hold 378 we have a potential short term double bottom pattern which is more positive for this week. Above 383 helps bulls to target a recovery to 389/390 and perhaps 394/395 again.

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