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Corn Wave Analysis – 12 June, 2019

  • Corn reversed from powerful support level 410.
  • Further gains are likely

Corn recently reversed up sharply from the powerful support level 410.00 (former multi-month high from May of 2018).

The upward reversal from this support area completed the previous ABC correction 2 from the end of May.

Corn is expected to rise further and retest the next key resistance level 437.00 (which reversed the previous waves 1 and (b))).

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Source: FxPro


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