Corn recently broke sharply through the support area lying between the key support level 372.00 (which has been steadily reversing the price from the end of December) and the 50% Fibonacci correction of the previous sharp upward impulse 5 from November.
The breakout of the aforementioned support area accelerated the active short-term impulse wave C.
Corn is expected to fall further and re-test the next support level 365.00 – the breakout of which can lead to further losses toward 355.00 (monthly low from November).
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