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SINGAPORE: CBOT wheat may drop into a zone of $8.47-1/4 to $8.58 per bushel, as it has broken a support at $8.76.
The current fall is closely related to the preceding drop from the Sept. 21 high of $9.19-1/2 and the rise from the same day low at $8.73.
This is the characteristic of an irregular flat.
A break above $8.76 may lead to a gain into $8.86-3/4 to $8.93-3/4 range.