Corn ZC Z 2 hit 7.99 S/R posted on previous "warning" post back on 07/17. December Corn hit 7.99 then tested again, moving as high as 8.00 before backing off.
If the current retrace (ZC Z2) does not print 7.55 and moves back up, it will test 8.00 and 8.10 with much higher objectives there after.
Printing 7.55 will still bounce but the top is pretty much in. (Will take lots of work for Dec. corn to get out of that one)
ZC Z2 now trading 7.62
Below is a 4hrs chart with some possible objectives.
My opinion is solely base on mathematical calculations and does not include or takes into account: weather, broadcasting parrots, USDA estimates, supply/demand, speculation or market manipulation.
The market always has the last word and in due time will show us the way.