TECHNICALS-CBOT corn biased to revisit April 10 low of $4.38

SINGAPORE, April 14 (Reuters) - CBOT corn CK26 is biased to revisit its April 10 low of $4.38 per bushel, as a bounce from this level has ended around a resistance at $4.46-3/4.

The drop on Monday has created a neutral zone of $4.40-1/4 to $4.44-3/4. Trending signals will become clearer when the market gets out.

The current assumption is the downtrend remains steady, unless the market breaks above $4.44-3/4, as the break would open the way toward the $4.46-3/4 to $4.49-1/4 range.

On the daily chart, the market has broken a rising trendline and a support at $4.42-3/4. It is expected to fall toward the $4.32-1/2 to $4.36-1/2 range.

This bearish outlook will be revised when the market breaks above $4.48.

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.