Corn prices reached the anticipated target of $393.50, with indications of a bullish rebound emerging from this level. The momentum is bolstered by clear signals of positivity in stochastic indicators, suggesting a potential bullish trend for intraday trading. Analysts foresee a move towards the $410.00 mark in the near term.
However, the bullish outlook hinges on maintaining above the $393.50 support level. A breach below this point could halt the upward momentum and lead to further declines, potentially testing support levels around $380.00.
Today’s expected trading range is anticipated to span between support at $390.00 and resistance at $405.00. Traders and investors are advised to monitor price movements closely within this range for potential trading opportunities.
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