Technical analysis

Corn Wave Analysis – 24 June, 2019

Corn Wave Analysis – 24 June, 2019
  • Corn reversed from support area
  • Further gains are likely

Corn recently reversed up from the support area lying between the key support level 440.00 (former multi-month resistance from the middle of 2016).

The upward reversal from this support level continues the active impulse wave 3 – which belongs to the weekly upward impulse sequence (3) from the middle of July.

Corn is expected to rise further and retest the next resistance level 460.00 (which reversed the price sharply earlier this month).

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