July Corn Wave Breakdown 5/25

Corn

         An apparent b wave triangle formation exist in weekly timeframe. This pattern is a smaller structure in a larger ending diagonal in the final wave of completion. If this is the case, then the recent rejection off 380 should be followed by a violation of 364. In the event that this unfolds further weakness should ensue. These patterns can be a bit sloppy so to speak, however all signs point to another low being established. Projections extend to +/- 320.0 with follow thru to 300.0. Risk reward seems to be attractive. An advance above 380 would negate this setup and most likely reach for 390.0