Corn Price Awaits Positive Momentum to Sustain Bullish Trend – May 23, 2024

by Jennifer

Expected Scenario

Corn price maintains its stability above the $461.90 level, thus keeping the bullish trend scenario intact. We anticipate a surge in positive momentum to propel the price to resume its upward bias, targeting our next objective at $474.70.


The EMA50 acts as a supportive factor for the price, underscoring that the continuation of the bullish wave necessitates maintaining levels above $461.90.


Expected Trading Range

The projected trading range spans between the support level at $460.00 and the resistance level at $475.00.

Trend Forecast: Bullish

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