Corn price surpasses the first target – Analysis - 12-12-2019

Corn Price succeeded to achieve our first waited target at 373.8 and broke it to settle below it, which supports the extension of the bearish wave to reach our next target at 366.0, waiting for more decline in the upcoming sessions.

The price return to the bearish channel adds more confirmation to the continuation of the expected bearish trend, which gets continuous support by the EMA50, taking into consideration that holding below 373.8 represents initial condition to continue the suggested decline.

The expected trading range for today is between 368.0 support and 375.0 resistance.

The expected trend for today: Bearish