Corn price surpasses the first target – Analysis - 16-12-2019

Corn Price opened today’s trading with strong rise that puts the price above 386.3 level, to surpass our first target suggested in our last reports and leads the price to head towards our next target at 394.1, reinforcing the chances of continuing the bullish bias in the upcoming sessions.

Therefore, the bullish trend scenario will remain valid and active, noting that failing to hold above 386.3 will put the price under negative pressure that targets testing 380.1 areas initially before any new attempt to rise.

The expected trading range for today is between 383.0 support and 393.0 resistance.

The expected trend for today: Bullish