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Bullish Momentum Propels Corn Prices Amid Technical Patterns

by Daisy

Corn prices have exhibited a bullish rebound, spurred by a decisive breach of the neckline within a positive pattern. Surpassing the critical level of $449.20, the market has reaffirmed its upward trajectory, with a solid settlement above this threshold reinforcing expectations of sustained bullish momentum.

Analysts anticipate the continuation of this corrective bullish trend, with key targets set at $461.90 and $474.70 respectively. The ongoing support of the EMA50 bolsters confidence in the bullish wave, contingent upon price stability above $443.50.

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In terms of expected trading activity, the projected range spans from a support level of $445.00 to a resistance level of $460.00. This delineation underscores the potential for price fluctuations within this range, reflecting ongoing market dynamics.

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Overall, the trend forecast remains bullish, reflecting market sentiment and technical indicators pointing towards further upward movement in corn prices.

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