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Corn prices have shown positive movements in recent sessions, testing the resistance posed by the EMA50. However, today begins with a bearish bias, influenced by stochastic indicators showing negativity. This sets the stage for anticipated declines in upcoming sessions, with initial targets set at $393.50 and potentially extending to $380.00 following a break below the previous level.
Therefore, the bearish trend remains valid and active unless the price manages to rally above $410.00 and sustain trading above this threshold.
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The expected trading range for today is projected between support at $385.00 and resistance at $406.00.
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Trend Forecast: Bearish
