Following a bullish bounce from the neckline of a positive pattern, the price of corn has regained strength, surging past the $449.20 level and settling above it once again. This resurgence reinforces expectations for the continuation of the corrective bullish trend.
Key targets for the upward movement are identified at $461.90, followed by $474.70. The support of the Exponential Moving Average 50 (EMA50) further bolsters the anticipated bullish wave, contingent upon the price maintaining stability above $443.50.
Expected Trading Range:
Traders should anticipate trading activity within the range bound by the support level at $445.00 and the resistance level at $460.00.
Trend Forecast:
The prevailing trend forecast remains bullish, supported by recent price movements and technical indicators. Investors are advised to monitor price stability above key support levels for confirmation of the upward trajectory.
