Corn price tests the channel’s resistance – Analysis - 08-04-2020
Economies.com
2020-04-08 05:02AM UTC
Corn Price traded positively to test the bearish channel’s resistance that appears on the chart, and as long as the price is below this level, the bearish trend scenario will remain valid for the upcoming period, supported by the negative pressure formed by the EMA50.
Our first main target is located at 324.30, noting that breaching 336.00 will stop the expected decline and leads the price to start correctional bullish wave on the intraday basis.
The expected trading range for today is between 325.00 support and 340.00 resistance.
The expected trend for today: Bearish
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