Technical analysis

Corn Wave Analysis – 28 May, 2019

Corn Wave Analysis – 28 May, 2019
  • Corn broke round resistance level 400.00
  • Further gains are likely

Corn opened today with the sharp upward gap following the earlier breakout of the round resistance level 400.00 (likely upward target mentioned in our earlier report for this instrument).

The breakout of the resistance level 400.00 accelerated the active short-term impulse wave 5 – which started earlier from the powerful support level 387.00.

Corn is expected to rise further and retest the next resistance level 425.00 (target for the completion of the active impulse wave 5).

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