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Corn Price Analysis: Bearish Trend Expected to Continue

by Daisy

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.

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Expected Trading Range

Support: $437.00

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Resistance: $449.00

Trend Forecast

Overall Trend: Bearish

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