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Corn price surpasses the target – Forecast today - 07-11-2024
Corn price rallied upwards strongly yesterday to succeed achieving our waited target at 434.30$, noticing that the price breached this level and closed the last four hours’ candlestick above it, reinforcing the expectations of continuing the bullish trend in the upcoming sessions, noting that the next target reaches 445.40$.
Therefore, we expect to witness more rise on the intraday and short-term basis, taking into consideration that failing to consolidate above 434.30$ will put the price under negative pressure that targets visiting 425.30$ areas again.
The expected trading range for today is between 430.00$ support and 445.00$ resistance.
Trend forecast: Bullish
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