Corn price bounced bearishly after testing the intraday bearish channel’s resistance, noticing that the EMA50 provides the positive support to the price, while stochastic reaches the oversold areas, which supports the chances of resuming the positive trades in the upcoming sessions, waiting to breach 530.50 to reinforce the chances of rallying towards 542.30 followed by 560.00 levels as next main targets.
Therefore, the bullish trend scenario will remain valid and active conditioned by the price stability above 513.00.
The expected trading range for today is between 513.00 support and 535.00 resistance.
The expected trend for today: Bullish