SINGAPORE: CBOT December corn will revisit its Sept. 12 low of $7.59-1/4 per bushel as indicated by its wave pattern.
The fall from the Aug. 21 high of $8.40 seems to have adopted a double-zigzag which will consist of seven waves in total. So far, only three waves have unfolded.
The fourth wave -the second wave "a" will drive the price into a range of $7.39-1/4 to $7.50-1/2, formed by the 161.8 and the 138.2 percent Fibonacci projection levels of a downtrend that started from $8.15.
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