SINGAPORE: CBOT March corn remains neutral while it seeks a chance to escape from a range of $6.28-$6.46-3/4 per bushel.
The range has been formed by the 61.8 percent Fibonacci projection level of wave "c" and the Feb. 17 high. A rise above $6.64-3/4 will confirm a bullish triangle pattern, with an immediate target at $6.59-1/2.
A drop below $6.28 will signal the pattern is bearish, with a target to be established at $6.16-1/2, the 100 percent Fibonacci projection level of a downward wave "c".
No information in this analysis should be considered as being business, financial or legal advice. Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.
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