Corn price keeps achieving the negative targets – Analysis - 24-06-2022

Corn price provided strong negative trades to surpass 680.00 level and confirm the continuation of the negative pressure, and by taking a deeper look at the chart, we find that the price completed forming head and shoulders’ pattern that has negative targets that surpass 660.00 to reach 622.40 followed by 580.00.

Therefore, we expect to witness more decline in the upcoming sessions, taking into consideration that failing to break 660.00 will lead the price to attempt to recover and test 700.00 areas before any new attempt to decline.

The expected trading range for today is between 650.00 support and 685.00 resistance.

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The expected trend for today: Bearish