Categories: Technical analysis

Corn Wave Analysis – 02 April, 2019

  • Corn reversed from resistance area
  • Further losses are likely

Corn today reversed down from the resistance area lying between the resistance level 362.00 (former monthly low from February and March) and lower trendline of the recently broken daily up channel from last July.

The downward reversal from this resistance area continues the active short-term impulse wave 3 from January.

Corn is expected to fall further and re-test the next support level 355.00 (target price for the completion of the active impulse wave 3).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

Share
Published by
The FxPro Tech Analysis Team
Tags: CORUSD

Recent Posts

FTSE 100 Wave Analysis – 17 March 2025

FTSE 100: ⬆️ Buy - FTSE 100 reversed from key support level 8425.00 - Likely…

12 hours ago

Alibaba Wave Analysis – 17 March 2025

Alibaba: ⬆️ Buy - Alibaba broke the key resistance level 145.00 - Likely to rise…

12 hours ago

EURNZD Wave Analysis – 17 March 2025

EURNZD: ⬇️ Sell - EURNZD reversed from long-term resistance level 1.9160 - Likely to fall…

16 hours ago

AUDUSD Wave Analysis – 17 March 2025

AUDUSD: ⬆️ Buy - AUDUSD broke resistance level 0.6350 - Likely to rise to resistance…

16 hours ago

Weak US retail sales might boost stocks

Weak US retail sales are adding to concerns of a potential recession, putting pressure on…

18 hours ago

Dow Jones: Rebound or Rally? The Fed Holds the Key

The Dow Jones rebound depends on the Federal Reserve's monetary policy and incoming data. It…

19 hours ago

This website uses cookies