Technical analysis

Corn Wave Analysis 21 April, 2021

• Corn under bullish pressure

• Likely to rise to resistance level 640.00

Corn under the bullish pressure after the earlier breakout of the round resistance level 600.00 (former top of the previous impulse wave (3)).

The breakout of the resistance level 600.00 accelerated the active intermediate impulse wave (5) – which follows the earlier breakout of the sideways price range form February.

Give the prevailing daily uptrend – Corn is likely to rise further toward the next resistance level 640.00. Strong support now stands at the support level 600.00.

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