May 11th, 2014: CORN Wave Count Update
Posted by pugsma on May 11, 2014
5-14-14: Adding a 60-min chart for CORN below. It looks like wave (2) of minor 3 will head for the 33 area. The 200-day SMA support is at 33.18.
CORN 60-min chart (5-14-14):
1:30 pm EST: CORN continues in a Primary 3 (P3) up-trend off the Primary 2 (P2) low of 29.50. Wave (2) of minor 3 of major [1]-P3 is nearly complete near 134 as a flat. I’m expecting wave minor 3 of major [1] to reach the 41.39 pivot and minor 5 of major [1] to reach the 45.93 pivot area later this summer. Details are shown on 60-min chart below.
CORN 4-hour chart (EOD 5-9-14):
CORN weekly chart (EOD 5-9-14):
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