Corn Wave Analysis – 02 April, 2019

Corn reversed from resistance area

Further losses are likely

Corn today reversed down from the resistance area lying between the resistance level 362.00 (former monthly low from February and March) and lower trendline of the recently broken daily up channel from last July.

The downward reversal from this resistance area continues the active short-term impulse wave 3 from January.

Corn is expected to fall further and re-test the next support level 355.00 (target price for the completion of the active impulse wave 3).

Source: FxPro