SINGAPORE: CBOT May corn may test a resistance at $5.56-1/4 per bushel, a break above which could open the way towards $5.72.

The resistance is at the March 8 high.

A break above this level will confirm a double-bottom forming around $5.30.

The pattern suggests a target of $5.85.

A realistic target will be $5.72. Support is at $5.47-1/2, a break below which could cause a fall to $5.40-1/2.

On the daily chart, a triangle has been almost confirmed. It indicates a target of $5.85 as well.

Strategically, the target of $5.85 will be available when corn breaks $5.58.

A break below $5.43 could be followed by a drop towards $5.25-1/4.

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.