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Corn price attempts to recover – Forecast today - 13-08-2024
Corn price traded positively yesterday to test the resistance line that appears on the chart, noticing that stochastic lost its positive momentum and approaches to provide negative overlapping signal now, waiting to motivate the price to resume the expected bearish wave on the intraday and short-term basis, which targets 380.00$ followed by 362.00$ levels as next main stations.
Holding below 398.00$ is important to the continuation of the expected decline, as breaching it will lead the price to start bullish correction on the intraday basis.
The expected trading range for today is between 385.00$ support and 400.00$ resistance.
Trend forecast: Bearish
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