Corn prices experienced a recent decline, bringing it to test the support line within a sideways range at 481.30. Today, a bullish bias is observed influenced by positive stochastic signals, suggesting a potential move towards achieving gains in upcoming sessions. The primary targets for this anticipated rise include testing 487.90 and subsequently reaching 493.20 levels.
It’s crucial to note that the expected bullish trend is contingent on the price remaining above the support level at 481.30. A break below this level could negate the anticipated rise, leading to additional losses on the intraday basis.
The projected trading range for today is expected to fall between the support level at 480.00 and the resistance level at 490.00.
Today’s Trend: Bullish
