SINGAPORE: CBOT corn may test a resistance at $5.28 per bushel, a break above which could lead to a gain into $5.32-3/4 to $5.37-1/4 range.
Following the rise on Wednesday, the bounce from the Sept. 10 low of $4.97-1/2 is presumed to have continued.
Driven by a wave c, the bounce may extend into $5.28 to $5.37-1/4 range.
Support is at $5.22, a break below which could cause a fall into $5.12-3/4 to $5.18-1/2 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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