Corn price achieves the additional negative targets – Analysis - 22-06-2022

Corn price declined strongly yesterday to surpass our first extended negative target at 715.00 and approaches 703.50, and we expect the continuation of the negative pressure to surpass the last level and suffer more losses on the intraday and short term basis, on its way to visit 680.00 as a next negative station.

Therefore, the bearish trend scenario will remain active for the upcoming period unless the price rallied to breach 731.60 and hold above it.

The expected trading range for today is between 690.00 support and 725.00 resistance.

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The expected trend for today: Bearish