Corn price suffers sudden losses – Analysis – 23-10-2023
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Photo By Economies.com
Corn price bounced downwards strongly after testing the bullish channel’s resistance that appears on the chart, to reach the thresholds of this channel’s support, and according to the trading rules inside the channels, the price is on its way to resume the bullish trend within the mentioned channel, to head towards achieving gains that start by visiting 513.30 areas.
Therefore, the bullish bias will be expected for today, supported by the positivity of the technical indicators, noting that breaking 499.30 will stop the suggested rise and push the price to turn to decline.
The expected trading range for today is between 497.00 support and 513.00 resistance.
The expected trend for today: Bullish
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