Corn price breaks the support – Analysis - 25-01-2021
Economies.com
2021-01-25 02:26AM UTC
Corn price broke 513.00 level strongly to approach 494.90 level, which represents 38.2% Fibonacci correction level for the rise from 418.10 to 542.30, noticing that the price completed forming double top pattern that supports the chances of achieving more decline.
Therefore, we will continue to suggest the bearish trend for the upcoming period conditioned by the price stability below 513.00, noting that breaking 494.90 will push the price to 480.20 as a next correctional station.
The expected trading range for today is between 490.00 support and 510.00 resistance.
The expected trend for today: Bearish
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