Corn prices have distinctly rebounded downwards following a test of the resistance within the bearish channel in recent sessions. This movement supports the ongoing bearish trend projection for both the intraday and short-term periods, with the next target situated at 450.00.
The supportive role of the EMA50 further reinforces the suggested bearish wave, which will remain viable unless the price demonstrates a rally to breach the 471.60 level and sustain its position above it.
The projected trading range for today is anticipated to fluctuate between the support level at 460.00 and the resistance level at 470.00.
In summary, the prevailing trend for today leans towards the bearish side, as Corn prices display a bearish rebound, signaling the potential continuation of the downward trajectory in the short term.
