Corn price tests the initial resistance – Analysis - 15-09-2021

Corn price trades positively to test the intraday bearish channel’s resistance, which represents the first protection factor to the continuation of the recently suggested negative scenario, noticing that stochastic shows big overbought signals, to support the chances of resuming the decline in the upcoming sessions.

Therefore, the overall bearish trend scenario will remain valid unless breaching 534.50 and holding above it, reminding you that our expected target is located at 493.40.

The expected trading range for today is between 530.00 support and 510.00 resistance.

The expected trend for today: Bearish