Corn price begins bearish correction – Analysis - 11-05-2021

Corn price ended yesterday at the bullish channel’s support line, starting today with additional decline to break this level and attempts to hold below, which hints heading to start bearish correction on the intraday basis, but we notice that stochastic and the EMA50 provide positive signals that support the chances of continuing the overall positive scenario.

Therefore, we will keep our bullish overview unless breaking 695.00 and holding below it, noting that our next main target reaches 730.00.

The expected trading range for today is between 685.00 support and 720.00 resistance.

The expected trend for today: Bullish