Corn price tests the resistance – Analysis – 21-08-2023
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Photo By Economies.com
Corn price trades positively by today’s open to approach the key resistance 509.50, affected by stochastic positivity, noting that the EMA50 meets the mentioned resistance to add more strength to it, waiting to resume the negative trades to head towards achieving our next main target that reaches 435.60.
On the other hand, we should note that breaching 509.50 will stop the expected decline and lead the price to attempt to regain the main bullish trend again.
The expected trading range for today is between 470.00 support and 509.00 resistance.
The expected trend for today: Bearish
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