SINGAPORE: CBOT March corn may break a support at $5.93-1/2 per bushel and fall into $5.81-1/2 to $5.88-3/4 range.
A rising trendline from the Nov. 30 low of $5.62-1/2 has been broken. The break signals a reversal of the uptrend.
Three waves make up the trend. The wave b ended at $5.81-1/2 which works as a target. A further bounce from the current level may be limited to $6.00-3/4.
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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