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Corn price needs the positive momentum – Forecast today - 30-04-2024
Corn Price Analysis
The price of corn shows a bearish bias, moving below the 449.20$ level. However, it's worth noting that the EMA50 attempts to halt the negative trades. We continue to suggest a correctional bullish trend, influenced by the previously completed inverted head and shoulders’ pattern. This supports the chances of achieving positive targets, starting at 461.90$ and extending to 474.70$.
On the other hand, it's important to note that the continuation of the decline and breaking below 443.00$ will stop the expected rise and push the price to turn to decline.
Expected Trading Range
- Support: 444.00$
- Resistance: 455.00$
Trend Forecast
Bullish
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