Corn Price Analysis:
The corn market commences today’s trading session with evident positivity, poised to attain our awaited target at $474.70. We anticipate a continuation of the prevailing bullish bias, with the potential to surpass this milestone and achieve additional gains reaching $490.40.
Expected Scenario:
The ongoing bullish trend retains its validity on an intraday basis, supported by the EMA50, which propels the price from below. However, failure to breach the $474.70 mark may trigger a bearish rebound, leading the price to test the key support level at $461.90 before any subsequent attempts to ascend.
Expected Trading Range:
The projected trading range spans from the support level of $470.00 to the resistance level of $480.00.
Trend Forecast: Bullish
