Corn prices have once again entered a pronounced negative trajectory, settling below the critical barrier at 450.00. This development reinforces expectations for the sustained continuation of the bearish trend, with a notable focus on the upcoming target at 440.00.
The EMA50, serving as a continuous negative pressure, strengthens the outlook for the anticipated bearish trend, contingent upon the price maintaining stability below 452.50.
Today’s projected trading range is expected to fluctuate between the support at 440.00 and resistance at 453.00, underlining the prevalent volatility in the corn market.
The overarching trend for today remains bearish, prompting traders to exercise caution and diligently monitor key support and resistance levels. The persistent stability below 452.50 marks a pivotal condition for the validity of the expected bearish trajectory, shaping the ongoing dynamics in the corn market.
