Corn has been practically neutral on 1W (RSI = 54.490, ADX = 23.173), trading sideways since mid July. With the price currently testing the inner 374'2 Resistance, we consider it to be high enough for a short towards the 0.618 1D Fibonacci = 356'6.
The TP = 372.20 has been hit and the 1D Channel Down (RSI = 37.956, Highs/Lows = -0.2679, B/BP = -1.4820) continues to deploy on a standard manner. Next TP = 337.20 which is the November 13, 2017 bottom and a very likely candidate for a rebound. If it breaks then 320.40 is next.
After breaking the 1D Channel Up (Highs/Lows = -12.9821, MACD = -1.170), Corn just bounced off the first important support at 380. We will either see a strong rebound here (long with tight SL, TP = 392.40) or if 379 breaks, it will look for the 372.20 support (TP = 374).