Corn prices are exhibiting steady negative movements, gradually distancing from the $449.20 mark. This reinforces expectations of a continued bearish trend, with the next target set at $433.50.
The prevailing double top pattern further supports the likelihood of a decline. However, if corn prices breach the $449.20 resistance level, this negative scenario would be invalidated, potentially initiating new recovery attempts on an intraday basis.
Expected Trading Range
Support: $437.00
Resistance: $449.00
Trend Forecast
Overall Trend: Bearish