Categories: Technical analysis

Corn Wave Analysis – 28 August, 2019

  • Corn broke the key support level 357.00
  • Further losses are likely

Corn recently broke the key support level 357.00 – which stopped the previous sharp short-term impulse wave 1 earlier this month.

The breakout of the support level 357.00 continues the active impulse waves 3 and (3) – both of which belong to the long-term impulse wave ③ from July.

Corn is expected to fall further and retest the next strong support level 343.50 (monthly low from April and May).

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.

Share
Published by
The FxPro Tech Analysis Team
Tags: CORUSD

Recent Posts

Oil: rebounded but unlikely started to recover

Oil prices rose by over 7% in the past week, reaching above $70 per barrel.…

11 hours ago

EURGBP Wave Analysis 25 November 2024

- EURGBP reversed from support zone - Likely to rise to resistance level 0.8375 EURGBP…

11 hours ago

EURCHF Wave Analysis 25 November 2024

- EURCHF reversed from support zone - Likely to rise to resistance level 0.9360 EURCHF…

11 hours ago

Important economic events of new week

The RBNZ's key rate decision, the release of the FOMC meeting minutes, and inflation estimates…

15 hours ago

Crypto Recharged Over the Weekend

The crypto seems recharged over weekend, and positive traction resumed on Monday. Bitcoin may reach…

16 hours ago

GBPUSD Wave Analysis 22 November 2024

- GBPUSD broke support zone - Likely to fall to support level 1.2465 GBPUSD currency…

3 days ago

This website uses cookies