Back Dec 05, 2024

Corn price resumes the decline – Forecast today - 05-12-2024

Corn price bounced bearishly after testing 434.30$ level in the previous sessions, to resume the expected bearish trend on the intraday and short-term basis, waiting to test 425.30$ as a first target, noting that breaking this level will extend the bearish wave to reach 416.30$ areas as a next negative station.


On the other hand, we should note that breaching 434.30 will stop the expected bearish trend and lead the price to achieve new gains that reach 445.40$.


The expected trading range for today is between 420.00$ support and 432.00$ resistance.


Trend forecast: Bearish

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