Corn price faces negative pressure – Analysis - 09-03-2021

Corn price provided clear negative trades yesterday to move below 545.00 level, settling around the EMA50 now, but we notice that the recent trades are confined within symmetrical triangle that its signs appear on the chart, thus, the chances still valid to resume the main bullish trend, and the price needs to breach 548.00 to get positive motive that assists to push trades to visit 570.40 as a first positive station.

Therefore, we will keep our bullish overview unless breaking 528.00 and holding below it.

The expected trading range for today is between 535.00 support and 560.00 resistance.

The expected trend for today: Bullish