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Wednesday, August 10, 2022

CBOT corn may fall to $6.18-1/4

SINGAPORE: CBOT corn may fall to $6.18-1/4 per bushel, driven by a wave C.

This wave has travelled below its 138.2% projection level of $6.38. It is unfolding towards the 161.8% level of $6.18-1/4.

As a general guidance, the support at $6.18-1/4 may hold and probably trigger a bounce.

CBOT corn may fall towards $6.52 before rising in Q3

A break above $6.38 could lead to a gain to $6.50-1/4 to $6.57-3/4 range.

CBOT corn may fall to .18-1/4

Source: Brecorder

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