Commodities
Corn Futures Prices Under Bearish Pressure Amid Mixed Momentum Signals
Corn Futures prices are experiencing bearish momentum in the short to medium term, with the current price of US$537.75 below its key moving averages.
The Moving Averages (MA-20 and MA-50) on the hourly chart show that ZC is trading below both at US$538.41 and US$537.77 respectively, while still holding above the MA-200 on the daily at US$455.8.
Momentum signals are mixed: MACD registers in strong buy territory, but RSI reads 47.03, which reflects selling conditions.