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Corn price continues to decline – Analysis - 01-05-2023
Corn price shows more bearish bias, and keeps pressing on the bearish channel’s support line, noticing that stochastic loses its positive momentum clearly, waiting to motivate the price to resume the negative trades to head towards 561.30 that represents our next main target.
Therefore, our bearish overview will remain valid and active for the upcoming period, reminding you that it is important to hold below 596.00 to continue the expected decline, as breaching it will lead the price to attempt to recover and cover the losses that it suffered recently.
The expected trading range for today is between 560.00 support and 590.00 resistance.
The expected trend for today: Bearish
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