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Corn prices experienced a positive trading session yesterday, testing the resistance level outlined on the chart. However, the stochastic indicator has lost its upward momentum and is nearing a negative crossover, suggesting a potential decline in the near term.
To maintain the forecasted bearish trend, which aims for target levels at $380.00 and subsequently $362.00, it is crucial for prices to remain below $398.00. A break above this threshold could trigger a bullish correction on an intraday basis.
For today, the anticipated trading range is between a support level of $385.00 and a resistance level of $400.00.
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