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The resistance is identified as the 86.4 percent projection level of an upward wave C from $3.72. Working together with the resistance is another one established by the falling trendline.
Corn failed twice to overcome the barrier at $3.92. The two failures have led to the formation of a tiny double-top. Unless corn could break above $3.92 soon, it is more likely to fall towards $3.86-1/4.
A break above $3.92 will open the way towards $3.95-1/4.
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