Corn price tests the key support – Forecast today - 19-04-2024

Corn Price Analysis

Expected Scenario

• Corn price tested the key support 433.50$ and bounced bullishly from there, to keep the bullish trend scenario valid for the upcoming period, waiting to breach the neckline of the inverted head and shoulders’ pattern at 443.70$ to get positive motive that push the price to achieve our positive targets that start at 461.90$ and extend to 474.70$.
• Stochastic provides positive signals that support the continuation of the expected bullish wave, which will remain valid conditioned by the price stability above 433.50$.

Expected Outcome

The expected trading range for today is between 432.00$ support and 450.00$ resistance.