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Corn Price Shows Signs of Recovery – Forecast for July 11, 2024

by Jennifer

Today, the price of corn opens with notable positivity as it approaches the resistance of bearish channels visible on the chart. This development prompts caution for upcoming trading sessions, particularly if the resistance levels at $404.00 and $408.10 are breached, which could initiate a bearish correction phase targeting around $420.20.

As of now, the bearish trend scenario remains active unless the aforementioned resistance levels are surpassed. A breach of these levels would indicate a potential shift in trend, with a next major target around $380.00.

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The anticipated trading range for today is expected to fluctuate between support at $390.00 and resistance at $410.00.

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Trend Forecast: Bearish

This forecast reflects current market dynamics in the corn market, highlighting potential price movements based on technical indicators and key resistance levels to monitor throughout the trading day.

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