Corn price approaches the neckline – Forecast today - 22-04-2024
Economies.com
2024-04-22 03:47AM UTC
Corn Price Analysis
Expected Scenario
- Corn price shows a bullish bias, nearing the neckline of the inverted head and shoulders pattern visible on the chart. The breach of this barrier is awaited to trigger a rally towards achieving a bullish correction, with initial targets starting at surpassing the 38.2% Fibonacci correction level at 449.20$, then heading towards 461.90$ followed by 474.70$ levels.
- Therefore, we suggest continuing the bullish trend for the upcoming period unless breaking 433.50$ and holding below it.
Expected Trading Range
Between the support at 435.00$ and the resistance at 450.00$
Trend Forecast: Bullish
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