Commodities

Corn price leans on the channel’s support line – Analysis - 19-04-2021

2021-04-19 01:20:27 GMT (Economies.com)

Corn price tested the intraday bullish channel’s support line and bounced bullishly from there, to keep the bullish trend scenario active on the intraday and short term basis, supported by the EMA50, waiting to surpass 600.00 to head towards 620.00.

 

On the other hand, we should note that breaking 582.00 will stop the expected rise and press on the price to turn to decline on the intraday basis.

 

The expected trading range for today is between 582.00 support and 610.00 resistance.

The expected trend for today: Bullish

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