Corn price suffers intraday losses – Analysis - 01-12-2020

Corn price faced strong negative pressure yesterday to touch the main bullish channel’s support line that appears on the chart, noticing that the price begins bouncing bullishly from there, supported by the positive signal provided by stochastic, which supports the chances of achieving more rise in the upcoming sessions.

Therefore, the bullish bias will be expected for today, and the targets begin at 437.50 and extend to 450.00, noting that breaking 424.00 will stop the bullish trend and press on the price to start correctional bearish wave.

The expected trading range for today is between 422.00 support and 437.00 resistance.

The expected trend for today: Bullish