Technical analysis

Corn Wave Analysis 26 April, 2021

• Corn rising inside accelerated impulse wave 5

• Likely to rise to resistance level 700.00

Corn continues to rise inside the sharp upward impulse wave 5 – which previous broke the resistance level 650.00, intersecting with the daily up channel from last August – signalling the acceleration of the uptrend

The active impulse wave 5 belongs to the intermediate upward impulse sequence (5) from March.

Corn is likely to rise further toward the next round resistance level 700.00 (target price for the completion of the active impulse wave 5).

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