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May 19th, Economies.com analysts’ latest views today: CBOT corn prices provided additional negative trading, trying to break through the 530.00 level, strengthening expectations for a continuation of the bearish trend on an intraday and short-term basis, with the next target at 520.00 level.
EMA50 continues to support the suggested bearish wave organized within the bearish channel appearing on the chart, considering a break above 538.80 would motivate price to start a recovery attempt with the aim of testing the 560.00 area before any fresh negative attempts. Today’s support level is expected to be 520.00 and the pressure level is 540.00.
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