Corn:
Price is keeping our preferred path as laid out last week reasonably well thus far. What we now need to see is that price keeps developing accordingly and will not break its previous low of 314/315. It could be that price will test the 330/335 supportive zone one more time and pull down through this zone to 325 or so but that should, if it happens at all, a very short times affair. We keep our bias unchanged that a bottom is in the market and price will trade up from here with 375 as first target for week 41.
Price is keeping our preferred path as laid out last week reasonably well thus far. What we now need to see is that price keeps developing accordingly and will not break its previous low of 314/315. It could be that price will test the 330/335 supportive zone one more time and pull down through this zone to 325 or so but that should, if it happens at all, a very short times affair. We keep our bias unchanged that a bottom is in the market and price will trade up from here with 375 as first target for week 41.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.