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Corn Wave Analysis – 26 August, 2021

• Corn reversed from support zone

• Likely to rise to resistance level 575,00

Corn recently reversed up from the support area located between the key multi-month support level 535,00 (which has been steadily reversing the price from February), and the lower daily Bollinger Band.

The upward reversal from this support zone stopped the previous medium-term corrective wave (2).

Given the strong daily uptrend, Corn can be expected to rise further toward the next resistance level 575,00 (which has been reversing the price from July).

Corn Wave Analysis – 26 August, 2021


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