Commodities

Corn price faces temporary negative pressure – Analysis - 27-10-2020

2020-10-27 04:02:43 GMT (Economies.com)

Corn price provided negative trades yesterday to test the minor bullish channel’s support line, and it kept its stability above it, which keeps the main bullish trend scenario active for the upcoming period, supported by the EMA50, waiting to head towards 434.00 as a next main target.

 

We should note that breaking 414.50 and holding below it will stop the expected rise and put the price under negative pressure that targets visiting 395.50 areas before any new attempt to rise.

 

The expected trading range for today is between 412.00 support and 425.00 resistance.

 

The expected trend for today: Bullish

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