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Corn prices are currently testing the EMA50, which is providing intraday resistance at $400.50. To maintain a bullish trend on the intraday basis, the price must break above this level. A successful breach could lead the price to the first correctional target at $410.00.
Should the price surpass this target, it may continue its ascent towards a second correctional level at $420.20. However, maintaining a level above $393.50 is crucial for sustaining the expected upward movement.
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Today’s anticipated trading range is between $393.00 for support and $410.00 for resistance.
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Trend Forecast: Bullish
