Corn Price Analysis
Expected Scenario:
Corn price experienced additional negative trades yesterday, testing the $433.50 level and attempting to confirm a break below it. However, today it has started with a bullish bias, hinting at potential recovery in the upcoming sessions. This positive momentum is supported by stochastic indicators showing positivity. Given this situation, it is prudent to remain on the sidelines temporarily until the price confirms its direction relative to the $433.50 level and clarifies its next destination clearly.
Key Levels to Watch:
Consolidating above $433.50 will likely push the price to achieve gains, targeting $442.80 followed by $449.20.
Trading below $433.50 again could reactivate the bearish wave scenario, with a target at $422.00 as the next main station.
Expected Trading Range:
- Support: $425.00
- Resistance: $445.00
Trend Forecast:
Neutral
