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Corn Wave Analysis – 04 April, 2019

  • Corn reversed from support area
  • Further gains are likely

Corn recently reversed up from the support area lying at the intersection of the key support level 355.00 (which has been reversing the price from September), support trendline of the daily up channel fromCORUSD July and lower daily Bollinger Band.

The upward reversal from this support area started the active short-term correction (ii).

Corn is expected to rise further and re-test the next resistance level 370.00 (former support from March).

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Source: FxPro


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