Corn prices have initiated a break below the support line of the symmetrical triangle pattern evident on the chart. This development reinforces expectations of a continued bearish trend in the forthcoming sessions, suggesting a potential move towards our primary target at 435.60.
Stochastic indicators are currently displaying negative signals, further supporting the notion of ongoing price decline. This bearish outlook will remain in effect unless prices successfully breach the resistance level at 509.50 and sustain such levels.
Today’s anticipated trading range is expected to oscillate between the support at 465.00 and resistance at 485.00.
The prevailing trend for today suggests a bearish bias.
Traders should carefully monitor price movements, paying close attention to potential entry and exit points in line with these developments.
