Corn price completes the negative pattern – Analysis - 27-09-2022

Corn price managed to break the neckline of the double top pattern, to activate the negative effect of this pattern, but it faces solid barrier formed at the bullish channel’s support line at 667.90, waiting to surpass this level to head towards achieving our negative targets that start at 660.70 and extend to 646.60.

Therefore, we will continue to suggest the bearish trend for the upcoming period, noting that breaching 679.20 will stop the expected decline and push the price to resume the main bullish trend again.

The expected trading range for today is between 655.00 support and 680.00 resistance.

The expected trend for today: Bearish