TECHNICALS-CBOT corn may climb $4.77-1/4 to $4.78-3/4 range

ReutersApr 29, 2026 7:04 AM

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SINGAPORE, April 29 (Reuters) - CBOT July corn CN26 may climb into a range of $4.77-1/4 to $4.78-3/4 per bushel, as it has broken a resistance at $4.75-1/4.

A wave c from $4.52-1/4 has travelled above its 161.8% projection level of $4.75-1/4. It is highly likely to extend into a range of $4.86 to $4.89-1/2.

A break below $4.75-1/4 could be followed by a drop into the $4.71-3/ to $4.73-1/2 range. On the daily chart, the market briefly pierced above a resistance at $4.75-1/2.

The two big white candlesticks on Monday and April 27 symbolize a strong bullish momentum, which could easily push the prices above $4.75-1/2.

A pullback toward a falling trendline may occur if the market closes below $4.75-1/2 on Wednesday.

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.

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

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