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Friday, October 22, 2021

CBOT corn may test resistance at $5.28

SINGAPORE: CBOT corn may test a resistance at $5.28 per bushel, a break above which could lead to a gain into $5.32-3/4 to $5.37-1/4 range.

Following the rise on Wednesday, the bounce from the Sept. 10 low of $4.97-1/2 is presumed to have continued.

Driven by a wave c, the bounce may extend into $5.28 to $5.37-1/4 range.

Support is at $5.22, a break below which could cause a fall into $5.12-3/4 to $5.18-1/2 range.

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.

CBOT corn may test resistance at .28

Source: Brecorder

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