Corn price hits the target – Analysis – 25-10-2023
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Photo By Economies.com
Corn price succeeded to achieve our first waited target at 493.20, noticing that the price broke it and closed the daily candlestick below it, to support the chances of continuing the domination of the bearish correction and head towards 487.90 as a next negative target.
Therefore, we will continue to suggest the bearish trend for the upcoming period, supported by the negative pressure formed by the EMA50, taking into consideration that breaching 498.50 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 485.00 support and 497.00 resistance.
The expected trend for today: Bearish
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