Corn price faces solid resistance – Forecast today - 03-04-2024

Corn Price Update

Corn Analysis

• The corn price bounced downwards strongly yesterday after encountering solid resistance at 449.20$.
• It tested the key support level at 433.50$.
• The price consolidates above this level, keeping the chances valid for continuing the correctional bullish trend.
• Supported by stochastic reaching oversold areas.
• Waiting for positive trades in the upcoming sessions.
• The first target is represented by testing 449.20$ again.
• Breaking 433.50$ will stop the correctional bullish scenario and push the price to decline again.

Expected Trading Range for Today

• Between 430.00$ support and 445.00$ resistance.

Trend Forecast: Bullish