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Corn price needs positive motive – Analysis - 22-02-2023
Corn price faced temporary negative pressure yesterday but it returns to rise and settle around 680.00 level, to keep the bullish trend scenario valid and active for the upcoming period, supported by the EMA50, waiting to visit 685.00 followed by 700.00 levels as next targets.
Stochastic negativity interprets the reasons of the slow bullish wave, waiting to get positive motive that assists to push the price to achieve the suggested targets, noting that breaking 673.50 followed by 668.50 levels will stop the expected rise and press on the price to return to the correctional bearish track again.
The expected trading range for today is between 673.50 support and 690.00 resistance.
The expected trend for today: Bullish
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