Corn price hits the target – Analysis - 25-05-2022

Corn price traded with strong negativity yesterday to succeed touching our waited target at 749.00, noticing that stochastic begins to provide new negative signals, to support the chances of surpassing the mentioned level and attempt to open the way to achieve more decline in the upcoming sessions, noting that the next negative target reaches 731.60.

Therefore, we expect the continuation of the bearish trend domination on the intraday and short term basis unless the price managed to breach 763.10 and hold above it.

The expected trading range for today is between 745.00 support and 760.00 resistance.

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The expected trend for today: Bearish