Advertisements

Corn Price Confronts Sturdy Resistance – Forecast for April 3, 2024

by Jennifer

In the latest update on corn prices, the commodity experienced a robust downward bounce yesterday following a formidable encounter with solid resistance at $449.20. Subsequently, it tested a critical support level at $433.50. Despite this, the price has managed to consolidate above this level, preserving the potential for the continuation of the corrective bullish trend.

Analysts note that the stochastic indicator has reached oversold areas, providing further support for the outlook. Expectations are now centered on positive trades in the forthcoming sessions, with the initial target set at a retest of the $449.20 resistance level.

Advertisements

However, a breach of the $433.50 support level could disrupt the corrective bullish scenario, potentially triggering a renewed decline in price.

Advertisements

Expected Trading Range for Today:

  • Support: $430.00
  • Resistance: $445.00

Trend Forecast: Bullish

You May Also Like

blank

Futuresstocktrading.com is a comprehensive futures information portal. Whether you’re a novice or seasoned trader, find futures news, futures market, futures trading tips, and futures basic knowledge to enhance your trading prowess and financial success.

[Contact us: [email protected]]

© 2023 Copyright  Futuresstocktrading.com – Futures Market, Investment, Trading & News