Corn price under the negative pressure – Forecast today - 25-04-2024

Corn Price Analysis

• Corn price managed to break 449.20$ level and approaches to retest the previously breached neckline of the inverted head and shoulders’ pattern that appears on the chart, which forms key support now at 443.00$, as the price needs to consolidate above this level to keep the correctional bullish scenario active, which its next target reaches 461.90$.

Expected Scenarios

• Therefore, we will continue to suggest the bullish trend for the upcoming period, noting that breaking 443.00$ will push the price to achieve more decline and test 433.504 as a first negative target.

Trading Range

• The expected trading range for today is between 440.00$ support and 455.00$ resistance.

Trend forecast: Bullish