Corn price surpasses the resistance – Analysis - 30-05-2023

Corn price rallied upwards strongly to breach 555.90 and open the way to achieve more bullish correction, as it approached 574.30 level, affected by stochastic negativity to show some slight bearish bias, waiting to resume the positive trades to surpass the last level and open the way to head towards 589.20 as a next correctional target.

Therefore, the bullish bias will be suggested for the upcoming period, noting that breaking 555.90 and holding below it will stop the expected rise and push the price to resume the main bearish trend again.

The expected trading range for today is between 555.90 support and 557.30 resistance.

The expected trend for today: Bullish