Corn price surpasses the first target – Analysis - 06-04-2020

Corn Price managed to achieve our first waited target at 333.80 and surpassed it to settle below it, reinforcing the expectations of continuing the bearish trend on the short term basis, and the way open to head towards our next target that reaches 324.30.

Therefore, the bearish bias will remain suggested in the upcoming sessions, supported by the EMA50 that supports the continuation of trading inside the bearish channel that appears on the chart, noting that the continuation of the bearish wave conditions holding below 333.80 and the most important below 340.00.

The expected trading range for today is between 325.00 support and 335.00 resistance.

The expected trend for today: Bearish