AVN 63.94 Decreased By ▼ -1.02 (-1.57%)
BAFL 29.95 Decreased By ▼ -0.30 (-0.99%)
BOP 4.64 No Change ▼ 0.00 (0%)
CNERGY 3.88 No Change ▼ 0.00 (0%)
DFML 13.40 Decreased By ▼ -0.15 (-1.11%)
DGKC 40.64 Decreased By ▼ -1.56 (-3.7%)
EPCL 47.01 Increased By ▲ 1.20 (2.62%)
FCCL 10.99 Decreased By ▼ -0.42 (-3.68%)
FFL 5.05 Decreased By ▼ -0.12 (-2.32%)
FLYNG 5.76 Decreased By ▼ -0.04 (-0.69%)
GGL 9.78 Decreased By ▼ -0.26 (-2.59%)
HUBC 61.85 Decreased By ▼ -1.45 (-2.29%)
HUMNL 5.66 Decreased By ▼ -0.09 (-1.57%)
KAPCO 27.52 Decreased By ▼ -0.31 (-1.11%)
KEL 2.14 Increased By ▲ 0.01 (0.47%)
LOTCHEM 24.23 Decreased By ▼ -1.10 (-4.34%)
MLCF 20.78 Decreased By ▼ -0.79 (-3.66%)
NETSOL 83.19 Decreased By ▼ -1.80 (-2.12%)
OGDC 86.27 Increased By ▲ 0.04 (0.05%)
PAEL 10.78 Decreased By ▼ -0.14 (-1.28%)
PIBTL 4.11 Decreased By ▼ -0.12 (-2.84%)
PPL 76.26 Decreased By ▼ -2.26 (-2.88%)
PRL 13.66 Increased By ▲ 0.04 (0.29%)
SILK 0.88 Decreased By ▼ -0.01 (-1.12%)
SNGP 40.86 No Change ▼ 0.00 (0%)
TELE 5.87 Decreased By ▼ -0.13 (-2.17%)
TPLP 15.61 Decreased By ▼ -0.39 (-2.44%)
TRG 109.97 Decreased By ▼ -1.73 (-1.55%)
UNITY 13.80 Decreased By ▼ -0.19 (-1.36%)
WTL 1.14 Increased By ▲ 0.01 (0.88%)
BR100 3,967 Decreased By -58.9 (-1.46%)
BR30 14,185 Decreased By -217.7 (-1.51%)
KSE100 39,871 Decreased By -579.3 (-1.43%)
KSE30 14,898 Decreased By -212.2 (-1.4%)
Follow us

SINGAPORE: CBOT corn may rise to $6.90-3/4 per bushel, as it has more or less broken a resistance at $6.79-3/4. A small double-bottom formed around a support of $6.67-1/4. It suggests a target of $6.90-3/4.

The following rise will be driven by a wave B, the second wave of a three-wave cycle from the Sept. 12 high of $6.99-1/2.

The wave B could end around $6.90-3/4, to be then reversed by a downward wave C.

Support is at $6.73, a break below which may open the way towards the $6.62-1/4 to $6.67-1/4 range.

CBOT corn ends almost unchanged

On the daily chart, corn may retest a resistance of $6.88, with a slim chance of breaking above this level and rising more, as the uptrend from $5.61-3/4 may have reversed.

The bearish divergence on RSI also suggests a deep fall rather than a rise.

Comments

Comments are closed.

CBOT corn may rise to $6.90-3/4 before falling

Rupee closes at fresh low of 269.63 against US dollar as the great fall continues

KSE-100 falls over 500 points in aftermath of Peshawar blast

Pakistan facing adverse consequences of Ukraine conflict: FM Bilawal

Islamabad Court sends Fawad to jail on judicial remand

SBP says it recognises cost of monetary tightening, but curbing inflation essential

Inflation to cross 30% as rupee depreciation, petrol prices bite: report

Oil slips as rate hikes loom and Russian flows stay strong

UAE president’s visit to Islamabad postponed over ‘bad weather’

Sheikh Rashid’s Lal Haveli residence sealed over ‘illegal occupation’

Asif Ali Zardari sends legal notice to Imran Khan over ‘assassination’ remarks