Technical analysis

Corn Wave Analysis – 16 July, 2019

Corn Wave Analysis – 16 July, 2019
  • Corn reversed from resistance area
  • Further losses are likely

Corn recently reversed down from the resistance area lying between the key resistance level 460.00 (which reversed the previous waves (C) and B) and the upper daily Bollinger Band.

The downward reversal from this resistance area started the active impulse wave (C).

Corn is expected to fall further and retest the next support levels 426.00 (low of wave B) – followed by 412.70 (low of wave (A)).

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