Corn prices are currently encountering resistance at the EMA50 level of $400.50, marking a crucial barrier for intraday trading. A breakthrough above this point is seen as pivotal, potentially paving the way for a visit to the initial correctional level at $410.00. This upward movement would reaffirm the bullish trend in the short term.
If the resistance at $400.50 is breached successfully, analysts predict a further climb towards the second correctional target of $420.20. Maintaining a price level above $393.50 is identified as critical for sustaining the anticipated upward trajectory.
Today’s expected trading range is anticipated between the support level of $393.00 and the resistance level of $410.00. Traders and analysts are closely monitoring these levels for indications of future price movements in the corn market.
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