Technical Analysis: CBOT corn prices hit new target successfully

On June 20, Economies’ analysts’ latest views today: CBOT corn prices successfully reached our new target of 604.00, and broke through and stabilized above this level at the opening today, strengthening the possibility of continuing the bullish trend on an intraday and short-term basis , paving the way for the next upside target towards 622.40.

Therefore, we expect further gains over the next few sessions due to the double bottom pattern emerging on the chart, notably a break above 604.00 will halt the advance and push the price back down.

Today’s expected trading range is between 600.00 support and 622.40 resistance.