Corn price reaches the resistance – Analysis - 09-08-2022

Corn price continues to rise to reach 622.40 level now, moving within bullish channel that might push the price to surpass the mentioned level and open the way to achieve more gains in the upcoming period.

Therefore, we prefer to stay aside until we get clearer signal for the next trend, noting that breaching the mentioned resistance will push the price to continue the rise and head towards 660.70 areas as a next main target, while breaking 596.00 represents the key to resume the bearish wave that its first target located at 575.00.

The expected trading range for today is between 596.00 support and 635.00 resistance.

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The expected trend for today: Neutral