Corn Wave Analysis – 12 June, 2019

Corn reversed from powerful support level 410.
Further gains are likely

Corn recently reversed up sharply from the powerful support level 410.00 (former multi-month high from May of 2018).

The upward reversal from this support area completed the previous ABC correction 2 from the end of May.

Corn is expected to rise further and retest the next key resistance level 437.00 (which reversed the previous waves 1 and (b))).

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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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Tags: CORUSD

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