SINGAPORE: CBOT corn may edge up into a range of $6.76-1/4 to $6.81-1/4 per bushel, following a false break below a rising trendline.
The uptrend from $5.61-3/4 remains temporarily steady.
A resumption of the uptrend won’t be considered until corn breaks $6.81-1/4.
The current rise is still regarded as a bounce.
CBOT corn may revisit July low of $5.62 in Q4
A break below $6.66-3/4 could signal a continuation of the downtrend towards $6.52-1/2 to $6.59-3/4 range.
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