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Corn price reaches the target – Analysis - 24-01-2024
Corn price managed to touch the bearish channel’s resistance that appears on the chart, and begins to provide negative trades that hint heading to resume the bearish track within the mentioned channel, as the EMA50 meets the current resistance areas to add more strength to it.
Therefore, we expect to witness negative trades in the upcoming sessions, and the targets begin at 447.00 and extend to 442.00, noting that breaching 454.50 will stop the negative scenario and lead the price to start correctional bullish wave on the intraday basis.
The expected trading range for today is between 445.00 support and 457.00 resistance.
The expected trend for today: Bearish
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