Corn prices exhibited limited movement yesterday, hovering around the 452.00 level. This lack of strong directional shifts maintains the expected temporary bullish trend scenario for the upcoming sessions. There is an anticipation of testing the 457.00 level before a potential reversal towards a decline. It is essential to note that breaking the 448.90 level would nullify the suggested temporary rise and potentially lead to a resumption of the main bearish trend.
Today’s anticipated trading range is expected to fluctuate between the support level at 448.00 and the resistance at 457.00. These levels are critical reference points for traders, providing insights into potential price movements.
In summary, the expected trend for today remains temporarily bullish, with corn prices consolidating within a narrow range. Traders are advised to closely monitor the price action, particularly the levels of 448.90 and 457.00, for a clearer understanding of the potential directional shifts in the market.
