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Corn price has been engaged in a pattern of sideways movement during recent trading sessions, sustaining its position below the 509.50 level. This alignment supports the continuation of the bearish trend scenario, bolstered by the negative influence exerted by the EMA50. It’s pertinent to recall that our subsequent pivotal target resides at 435.60.
Conversely, it is important to acknowledge that breaching the level of 509.50 will intervene in the anticipated descent and guide the price towards initiating a recuperative phase on an intraday basis.
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The anticipated range for trading activities today is forecasted to span between the support level at 470.00 and the resistance level at 500.00.
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Projected trend for today: Bearish
