• Corn reversed from resistance level 558.50
• Likely to reach support level 531.00
Corn recently reversed down from the resistance level 558.50 (which is the upper boundary of the sideways price range inside which the price has been moving from February).
The downward reversal form the resistance level 558.50 continues the active impulse waves 3 and (1).
Corn is likely to fall further toward the next support level 531.00 (lower boundary of the active sideways price range).