SINGAPORE: CBOT March corn still targets a range of $4.45-1/2 to $4.47-3/4 per bushel, as it is riding on a wave 3.
This wave has briefly pierced above a resistance at $4.43, its 214.6% projection level. It has a better chance of extending into target zone.
Support is at $4.41-1/2, a break below which could cause a fall to $4.39.
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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