Corn price surpasses the resistance – Forecast today - 02-05-2024

Expected Scenario

• Corn price resumed its positive trading clearly to breach 449.20$ and settles above it, reinforcing the expectations of continuing the correctional bullish trend, affected by the previously completed inverted head and shoulders’ pattern, reminding you that our next targets start at 461.90$ and extend to 474.70$.
• The EMA50 supports the suggested bullish wave, which will remain valid conditioned by the price stability above 442.00$.

Expected Trading Range

Between the support at 445.00$ and the resistance at 462.00$.