Markets

CBOT corn may rise into $4.45-1/2 to $4.47-3/4 range

  • Chances are it may extend into the target zone, following the deep correction on Monday.
Published December 22, 2020

SINGAPORE: CBOT March corn may rise into a range of $4.45-1/2 to $4.47-3/4 per bushel, driven by a wave 3.

This wave has cleared a resistance at $4.39, its 176.4% projection level.

Chances are it may extend into the target zone, following the deep correction on Monday.

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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