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Corn price completes the negative pattern – Analysis - 03-05-2023
Corn price managed to break the bearish pennant’s support line and settled below it, reinforcing the expectations of continuing the bearish trend in the upcoming sessions, and the way is open to achieve our waited target at 561.30.
The EMA50 forms continuous negative pressure against the price to support the continuation of the suggested bearish wave, noting that breaching 582.70 will push the price to test the most important resistance at 596.00 before any new attempt to decline.
The expected trading range for today is between 560.00 support and 578.00 resistance.
The expected trend for today: Bearish
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