Corn prices experienced a robust upward rally in the most recent trading session, marking the commencement of a bullish correction following the preceding decline from the 515.80 levels. The primary objective of this correction is to test the 433.50 level, serving as the next crucial station. It is noteworthy that surpassing this level would pave the way for additional bullish correction, with the subsequent target set at 449.20.
Consequently, a bullish trend is anticipated in the coming period, with a caveat that breaching the support level at 414.80 may exert negative pressure, prompting a resumption of the main bearish trajectory.
Today’s Expected Trading Range: 415.00 (Support) – 435.00 (Resistance)
The current analysis suggests a bullish trend for corn prices, underscoring the importance of monitoring the support level at 415.00 and the resistance level at 435.00 during today’s trading activities.
