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Following its recent touch of the 509.50 level, corn price demonstrated a decisive downward rebound. This movement underscores the persistence of the anticipated bearish trend for both the intraday and short-term periods, with the subsequent major objective situated at 435.60.
The presence of the EMA50 bolsters the validity of the proposed bearish trajectory, which will remain in play unless there is a significant upward surge that manages to breach the 509.50 threshold and sustain a position above it.
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For the current trading session, the projected price range is expected to oscillate between the support at 465.00 and the resistance at 490.00.
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Anticipated Trend for Today: Bearish
