Markets
CBOT corn to rise towards $6.65-1/2 a bushel
SINGAPORE : CBOT December corn is poised to rise to $6.65-1/2 per bushel, as it could have completed a correction that s
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SINGAPORE: CBOT December corn is poised to rise to $6.65-1/2 per bushel, as it could have completed a correction that started from Oct. 21.
The correction has adopted an "a-b-c" corrective wave mode, with the wave "c" believed to have ended at the Nov. 11 low of $6.34.
The range of $6.34-1/2 to $6.65-1/2 may eventually turn into a double-bottom, instead of a double-top.
Support is at $6.34, a fall below which will extend to $6.25.
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.
Copyright Reuters, 2011
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