Corn price breaks the support – Forecast today - 28-03-2024

Corn Price Analysis

Bearish Scenario

• Corn price confirmed breaking 433.50$ level after closing yesterday below it.
• Reinforcing the expectations of continuing the domination of the bearish trend in the upcoming period.
• Opening the way to target 424.20$ followed by 415.50$ levels as next negative stations.

Negative Pressure

The EMA50 forms negative pressure that supports the continuation of the expected decline.

Will remain valid unless breaching 433.50$ and holding above it again.

Trading Range

The expected trading range for today is between 420.00$ support and 435.00$ resistance.

Trend forecast: Bearish