- Corn broke the key support level 357.00
- Further losses are likely
Corn recently broke the key support level 357.00 – which stopped the previous sharp short-term impulse wave 1 earlier this month.
The breakout of the support level 357.00 continues the active impulse waves 3 and (3) – both of which belong to the long-term impulse wave ③ from July.
Corn is expected to fall further and retest the next strong support level 343.50 (monthly low from April and May).