The price of corn concluded yesterday’s trading session with robust gains, decisively surpassing the $433.50 level to reach $449.20 directly. This notable advancement signifies a resurgence in the bullish correctional trajectory, with an upward target set at $461.90.
Our analysis suggests that the bullish bias is poised to persist in the upcoming period. However, potential consolidation around the $449.20 level, coupled with positive attempts, may trigger a temporary downturn, with initial support expected around the $433.50 level.
For today’s trading activities, the projected trading range is as follows:
– Support: $440.00
– Resistance: $460.00
In summary, our trend forecast maintains a bullish outlook, reflecting expectations of continued upward momentum in the price of corn. Traders should remain vigilant for any potential fluctuations in market conditions.
