SINGAPORE: CBOT corn may retest a resistance at $6.60 per bushel, a break above which could lead to a gain into $6.67-3/4 to $6.73-1/2 range.
The contract is riding on a big wave C from $7.17-1/2, which may have completed or only completed its first part. Three smaller waves make up this part. The wave b ended around $6.86-3/4 which works a target.
A break below $6.37-1/4 may cause a fall into $6.18-1/4 to $6.29-3/4.
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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