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Corn Wave Analysis – 18 March, 2019

  • Corn broke long-term support level 342.00
  • Likely to fall to 330,00

Corn recently broke below the strong, long-term support level 342.00 (former monthly low from April and May of 2019 – which started the previous sharp weekly uptrend).

The breakout of the support level 342.was preceded by the breakout of the daily down channel from October -accelerating the active impulse waves 3 and (3).

Corn is likely to fall further toward the next support level 330,00 (target price for the termination of the active impulse wave (3)).

Corn recently broke below the strong, long-term support level 342.00


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