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May 21st, 2014: CORN Wave Count Update

Posted by pugsma on May 21, 2014

3:25 pm EST:  CORN price very close the double top target of 32.40 for wave (2) of minor 3 of major [1]-P3.   However if you look at the weekly CORN chart you will notice that the MACD is about to go bear-cross again, which would imply that the P2 low is not yet in place 29.50.   So CORN price needs to quickly turn around here above the 32.09 pivot area and been to impulse higher if the ST to IT wave count on CORN is to be saved.

CORN 60-min chart (EOD):

PUG CORN 60-min chart MD 5-21-14

CORN 4-hr chart (EOD):

PUG CORN 4-hr chart MD 5-21-14

CORN weekly chart (EOD):

PUG CORN weekly chart MD 5-21-14

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