The price of corn exhibited marginal positive movements in the previous session, testing the EMA50. It’s worth noting that the stochastic indicator is displaying a clear loss of positive momentum, approaching the overbought areas. This condition is anticipated to prompt the price to resume its negative trajectory, aiming for a visit to 442.90 as the next downward target.
Therefore, the prevailing scenario favors a continuation of the bearish trend in the upcoming period. It is essential to observe that breaching the 455.00 level may initiate additional bullish corrections, with the next target reaching 462.40.
The expected trading range for today is estimated between the support level at 440.00 and the resistance level at 455.00.
Expected Trend for Today: Bearish
