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Could Corn drop to the 593,4 level?

Wednesday forecast (March 22, 2023)

Uptrend scenario

An uptrend will start as soon, as the market rises above resistance level 621,2, which will be followed by moving up to resistance level 634.

Downtrend scenario

The downtrend may be expected to continue, while market is trading below resistance level 621,2, which will be followed by reaching support level 598 – 593,4.

Chart

Weekly forecast (March 20 – 24, 2023)

Uptrend scenario

An uptrend will start as soon, as the market rises above resistance level 642,6 – 648,2, which will be followed by moving up to resistance level 667.

Downtrend scenario

The downtrend may be expected to continue, while market is trading below resistance level 642,6 – 648,2, which will be followed by reaching support level 606,6.

Chart

Monthly forecast, February – March 2023

Uptrend scenario

An uptrend will start as soon, as the market rises above resistance level 688,6, which will be followed by moving up to resistance level 704,6.

Downtrend scenario

The downtrend may be expected to continue, while market is trading below resistance level 688,6, which will be followed by reaching support level 669,2, 661,2 and 648,2.

Chart

Author

Anton Kolhanov

Anton Kolhanov

Anton Kolhanov

Anton Kolhanov is a trader and an analyst. He started to study the Forex market in 2003.

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