Corn Prices Show Signs of Positive Momentum

by Jennifer

Corn prices have exhibited strength as they found substantial support at the 487.90 level. The market saw a bullish rebound at the opening of today’s session, challenging the key resistance at 493.20. This battle between support and resistance will determine the next trajectory for corn prices. As we await a clearer signal for the upcoming trend, the current stance is neutral.

It’s important to highlight that a successful breach of the mentioned resistance will likely lead to a revival of the main bullish trend, with initial targets set at 498.50. Conversely, a break below the support level would be a negative development, signaling a resumption of the downtrend and paving the way for new downside targets around 481.30.

Advertisements

For today, traders should anticipate a trading range with support at 487.00 and resistance at 498.00.

Advertisements

Today’s expected trend: Neutral

You May Also Like

blank

Bnher is a comprehensive futures portal. The main columns include futures market, futures exchanges, futures varieties, futures basic knowledge and other columns.

[Contact us: [email protected]]

© 2023 Copyright  bedgut.com – Futures Market, Investment, Trading & News