Categories: Technical analysis

Corn Wave Analysis 1 October, 2020

• Corn broke key resistance level 378.80

• Likely to test resistance level 385.00

Corn continues to rise strongly after the earlier breakout of the key resistance level 378.80 (which stopped the previous impulse wave 1 in September).

The breakout of the resistance level 378.80 should accelerate the active impulse wave 3 – which belongs to the sharp impulse sequence (3) from August.

Corn is likely to rise further toward the next resistance level 385.00 (monthly high from the start of March).

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.

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The FxPro Tech Analysis Team
Tags: CORUSD

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