Corn at a breakout point

On the daily chart of corn we can see that the commodity has a good bearish trend from the highs around the 436.12. The price of corn has already visited the 325.00 level once and now is visiting it again. The more often the price visits a support or resistance, the more chances of seeing a breakout. The 55 day EMA, purple line, has crossed below the 200 day EMA, blue line, forming what we know as “the death cross”, which has bearish implications. Therefore, the price may break below the 325.00 level and try to go and visit the 317.75 level. If the price bounces to the upside from the 325.00 level, then it would be forming a “double bottom” pattern with bullish implications. In such case, the price may go and visit the 346.76 level or the 360.00 level.