2
Corn prices are currently fluctuating around the 50-day exponential moving average (EMA50). Recent analysis indicates that the stochastic indicator has lost its positive momentum, suggesting a potential resumption of the bearish trend in the near term. If this trend continues, targets are anticipated to begin at $416.30 and extend down to $405.20 following a breach of the previous support level.
Conversely, a breakout above $425.30 could halt the expected decline, paving the way for potential gains that may reach $434.30.
For today, the expected trading range for corn is set between a support level of $410.00 and a resistance level of $428.00.
Related topic:
Who Initiates Delivery In A Corn Futures Contract?