Technical analysis

Corn Wave Analysis 1 October, 2020

Corn Wave Analysis 1 October, 2020

• Corn broke key resistance level 378.80

• Likely to test resistance level 385.00

Corn continues to rise strongly after the earlier breakout of the key resistance level 378.80 (which stopped the previous impulse wave 1 in September).

The breakout of the resistance level 378.80 should accelerate the active impulse wave 3 – which belongs to the sharp impulse sequence (3) from August.

Corn is likely to rise further toward the next resistance level 385.00 (monthly high from the start of March).

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