Corn price is recovering – Analysis - 19-01-2022

Corn price continued to rise yesterday to breach 597.50 level, starting today with additional rise to breach the correctional bearish channel’s resistance that appears on the chart, which stops the recently suggested negative scenario and lead the price to regain the main bullish trend again, on its way to head towards 617.60 as a next main target.

Therefore, the bullish bias will be suggested in the upcoming sessions unless breaking 600.00 and holding below it.

The expected trading range for today is between 595.00 support and 615.00 resistance.

The expected trend for today: Bullish