SINGAPORE: CBOT March corn may test a support at $5.97-1/4 per bushel and a break could cause a fall into $5.88-3/4 to $5.93-1/2 range.
The contract broke a support at $6.00-3/4. The next support is at $5.97-1/4.
It seems the current move is still centred around a rising trendline.
A drop into $5.88-3/4 to $5.93-1/2 range would confirm an extension of the correction from the Dec. 28, 2021 high of $6.17-3/4.
A break above $6.05-1/2 could lead to a gain to $6.13.
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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