Corn prices have initiated new positive movements at today’s open, gradually nearing the resistance of the bearish channel. This sustains the temporary positive scenario, with an expectation to test the 468.30 level before a potential reversal back into a bearish trend.
It is crucial to note that a breakthrough of the aforementioned targeted level could propel the price to attain additional gains, marking a bullish correction on an intraday basis. Conversely, the pivotal point for a return to the primary bearish trajectory is the breach of 460.50, leading to the realization of negative targets starting at 455.00.
The projected trading range for today is anticipated to fluctuate between the support level of 460.00 and the resistance level of 470.00.
Today’s expected trend: Temporarily Bullish
