Corn price faces temporary negative pressure – Analysis - 14-01-2021

Corn price achieved some bearish correction for the last rise that start from 489.50 areas, to lean on 522.00 level and attempts to recover again, which keeps the main bullish trend scenario valid for the upcoming period, supported by stochastic reach to the oversold areas, waiting to head towards 551.00 that represents our next target.

On the other hand, we should note that breaking 515.50 will stop the expected rise and press on the price to achieve more bearish correction.

The expected trading range for today is between 520.00 support and 545.00 resistance.

The expected trend for today: Bullish