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CBOT corn to fall to $6.91-1/2
SINGAPORE: CBOT March corn is expected to drop more to $6.91-1/2 per bushel, driven by a wave iii.
This is the third
SINGAPORE: CBOT March corn is expected to drop more to $6.91-1/2 per bushel, driven by a wave iii.
This is the third wave of a five-wave cycle that started at the Monday high of $7.34-3/4. It is the most powerful wave among the five waves, and is capable of travelling 1.618 times the length of the wave i, to arrive at $6.91-1/2, the 161.8 percent Fibonacci projection level.
A rebound from the current level will be weak, to be capped at $7.08.
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