Corn recently broke sharply below the support area lying between the key support level 387.00, support trendline of the daily down channel from June and the 61.8% Fibonacci correction of the previous upward impulse from April.
The breakout of this support area accelerated the active short-term impulse wave 2 – which belongs to the impulse wave (C) – which started in July from the major resistance level 460.00.
Corn expected to fall further and retest the next support level 342.80 (monthly low from April and May).
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