Technical analysis

Corn Wave Analysis 4 March, 2021

Corn Wave Analysis 4 March, 2021

• Corn reversed from support level 529.00

• Likely to rise to resistance level 563.00

Corn recently reversed up from the pivotal support level 529.00 (which has been reversing the price from the end of January).

The support zone near the support level 529.00 was strengthened by the lower daily Bollinger Band and by the 50% Fibonacci correction of the earlier impulse wave (5).

Corn is likely to rise further toward the next resistance level 563.00 (top of the previous impulse wave (1) from last month).

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