Corn price completes the positive pattern – Forecast today - 23-04-2024

Corn Price Analysis

Expected Scenario

• Corn price succeeded to breach the neckline of the inverted head and shoulders’ pattern to activate the positive effect of this pattern and start testing the key resistance 449.20$.
• The price is attempting to breach this level by today’s open, reinforcing the expectations of continuing the correctional bullish trend, waiting to visit 461.90$ followed by 474.70$ levels as next main targets.
• The bullish trend will remain valid and active for the upcoming period, noting that breaking 443.80$ will stop the expected rise and put the price under negative pressure that its targets begin by testing the key support 433.50$.

Expected Trading Range

Between the support at 444.00$ and the resistance at 460.00$