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