• 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).