Corn Wave Analysis – 03 March, 2020

• Corn reversed from support zone
• Likely to rise to 391.00

Corn recently reversed up sharply from the support zone lying between the key support level 362.00 (low of the previous wave (A) from November) and the lower daily Bollinger Band.

The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Morning Star.

Corn is likely to rise further toward the next resistance level 391.00 (top of the previous waves (A) and (B) from January).