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Corn Wave Analysis – 25 July, 2019

  • Corn broke support level 426.00
  • Further losses are likely

Corn recently broke the support level 426.00 (which previously reversed the price sharply at the start of July).

The breakout of the support level 426.00 accelerated the active impulse wave 3 – which belongs to the medium-term impulse wave (1) from June.

Corn is expected to fall further and retest the next support level 412.00 (low of the previous short-term impulse wave 1).

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Source: FxPro


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