SINGAPORE: CBOT March corn may retest a resistance at $4.49-1/2 per bushel, a break above which could lead to a gain into the $4.52 to $4.54-1/4 range.
The contract is riding on a powerful wave 3 from $4.20-1/2. This wave is capable of travelling into a zone of $4.56 to $4.58-1/4, formed by its 338.2% and 361.8% projection levels.
Support is at $4.46-3/4, a break below which could cause a fall into the $4.43-3/4 to $4.45-1/2 range.
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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