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CBOT corn may retest support at $5.86

The support...
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By Reuters

SINGAPORE: CBOT March corn may retest a support at $5.86 per bushel, as its drop looks incomplete.

The support triggered a bounce which is classified as a pullback towards a rising trendline.

The pullback may end around $5.97-1/4.

A wave b ended at $5.81-1/2 which works as a target for the next few days. A break above $5.97-1/4 could lead to a gain into $6.00-3/4 to $6.05-1/2 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.

Corn

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