SINGAPORE, March 16 (Reuters) - CBOT corn CK26 looks neutral in a range of $4.64-1/4 to $4.68-3/4 per bushel, and an escape could suggest a direction.
A break above $4.68-3/4 may lead to a gain into a $4.71-3/4 to $4.76 range, while a break below $4.64-1/4 could trigger a fall into a $4.57 to $4.60-3/4 range.
The bias might be towards the downside, as the correction from $4.76 looks incomplete. It consists of three waves. So far, only two have unfolded.
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.