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Sunday, October 17, 2021

CBOT corn may test support at $5.25

SINGAPORE: CBOT corn may test a support at $5.25 per bushel, a break below which could cause a fall into $5.18-1/2 to $5.22 range.

The rise from $5.12-3/4 is presumed to be driven by a wave b, the second wave of a downtrend from $5.37-1/2.

This wave failed to overcome a barrier at $5.31-1/2. The failure suggests the development of a wave c.
A break above $5.31-1/2 could lead to a gain to $5.37-1/2.

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 support at .25

Source: Brecorder

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