Categories: Technical analysis

Corn Wave Analysis 7 October, 2020

• Corn rising inside impulse waves 3 and (3)

• Likely to rise to 393.00

Corn continues to rise inside the sharp upward impulse wave 3 – which reversed earlier from the key support level 380.00 (former powerful resistance from the middle of September).

The price previously broke above the major resistance level 385.00 (former multi-month resistance level from March).

Corn is likely to rise further toward the next resistance level 393.00 (monthly high from January) – the breakout of which will expose the next major high 400.00 for the testing.

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.

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Tags: CORUSD

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