Corn

The corn market traded higher this past week after retesting the broken channel.
I interpret structure to still be tracing intermediate (4) of primary [A].
It's possible that wave (4) has completed and (5) has started. I don't believe this is the case though.
Being a 4 wave, there is always the chance of a triangle or some type of complex pattern.
Should (4)'s price low be in, we can start to get upside projections. (5) = 61.8% of (1) - (3) at 428.25.
RSI has done a good job of maintaining its uptrend line. We should expect to see our customary divergence when (5) completes.
A critical level remains the price extreme of (1) at 347.60. Should price trade through that level, then we would have to take another look at structure.
Bottom line - I'm expecting some more grinding away in this wave (4) this upcoming week.