SINGAPORE: CBOT March corn may test a resistance at $6.05-1/2 per bushel, a break above which could lead to a gain into $6.08-1/2 to $6.13.
The correction from the Dec. 28 high of $6.17-3/4, or its first round, could have completed, following a stabilisation of the price around $5.93-1/2 and the subsequent rise.
The rise will be regarded as a pullback towards a rising trendline if it stops around $6.05-1/2.
A further gain could signal the continuation of the uptrend.
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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