Midday update for Corn price 11-05-2021
Economies.com
2021-05-11 10:20AM UTC
Corn price trades below the bullish channel’s support line that appears on the chart, but we notice that the EMA50 protects the price from suffering more losses, while stochastic provides clear positive signals now.
Therefore, we believe that the chances valid to resume the main bullish trend, which its next target located at 730.00, while achieving it requires holding above 695.00 and 687.00 levels.
The expected trading range for today is between 685.00 support and 720.00 resistance.
The expected trend for today: Bullish
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