CBOT corn may retest resistance at $5.28-1/4

By Reuters News

SINGAPORE, Sept 28 (Reuters) - CBOT December corn may retest a resistance at $5.28-1/4 per bushel, a break above which could open the way toward $5.31-1/4 to $5.34-1/4 range.

The strong bounce around a support at $5.14-1/4 suggests the completion of either a wave c from $5.44-1/2 or the whole correction from $5.49-3/4.

The bounce is considered the same degree as the one from the September 11 low of $5.23-1/4. It may extend far above $5.28-1/4. A break below $5.24-1/4 could lead to a drop to $5.21-3/4.

* Wang Tao is a Reuters market analyst for commodities and energy technicals. The views expressed are his own. His analyses are exclusively published on Workspace - a platform provided by London Stock Exchange.

** No information in this analysis should be considered business, financial, or legal advice. Each reader should consult their own professional or other advisers for business, financial, or legal advice regarding the products mentioned in the analyses. ​


tech https://tmsnrt.rs/4z5igfu

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.