Corn price faces negative pressure – Forecast today - 12-04-2024

Corn Price Analysis

Expected Scenario

• Corn price trades with clear negativity after testing the neckline of the inverted head and shoulders’ pattern.
• Key support at 433.50$ approached, accompanied by clear oversold signals through stochastic.
• Positive trades target breaching 445.50$ to confirm opening the way towards 461.90$ and 474.70$ levels.
• Breaking 433.50$ and holding below it will stop the correctional bullish scenario.

The expected trading range for today is between 430.00$ support and 445.00$ resistance.

Trend Forecast

Bullish