TECHNICALS-CBOT corn signals mixed

SINGAPORE, Feb 5 (Reuters) - Signals are mixed for CBOT March corn CH26，as it is hard to classify the sudden rise on Wednesday.

The rise could be either an extension of the uptrend from $4.17 per bushel or a part of the correction from $4.34. Signals will become clearer when the market gets out of the range of $4.27-1/2 to $4.31-1/2.

A break below $4.27-1/2 may cause a fall into the $4.23-1/2 to $4.25-1/2 range，while a break above $4.31-1/2 will not only lead to a gain to $4.34, but also confirm a continuation of the uptrend from $4.17.

On the daily chart, a retracement analysis on a downtrend from $4.48-1/2 reveals a bigger neutral range of $4.24-1/2 to $4.32-3/4.

Considering the big fall from $4.48-1/2, the market is biased to fall.

Wang Tao is a Reuters market analyst for commodities and energy technicals. The views expressed are his own.

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.

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