The resistance is identified as the 176.4% projection level of an upward wave 3 from $4.20-1/2. This wave is expected to travel into a range of $4.45-1/2 to $4.47-3/4.
SINGAPORE: CBOT March corn may rise into a range of $4.41-1/2 to $4.43 per bushel, as it has cleared a resistance at $4.39.
The resistance is identified as the 176.4% projection level of an upward wave 3 from $4.20-1/2. This wave is expected to travel into a range of $4.45-1/2 to $4.47-3/4.
A break below $4.39, now a support, could cause a fall into the range of $4.35 to $4.37-1/4.
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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