Technical analysis

Corn Wave Analysis – 26 August, 2021

• Corn reversed from support zone

• Likely to rise to resistance level 575,00

Corn recently reversed up from the support area located between the key multi-month support level 535,00 (which has been steadily reversing the price from February), and the lower daily Bollinger Band.

The upward reversal from this support zone stopped the previous medium-term corrective wave (2).

Given the strong daily uptrend, Corn can be expected to rise further toward the next resistance level 575,00 (which has been reversing the price from July).

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