A break below $3.22-1/2 could cause a fall into $3.17 to $3.20-1/4 range while a break above $3.26 could lead to a gain into $3.27-3/4 to $3.29-1/4 range.
SINGAPORE: CBOT September corn looks neutral in a range of $3.22-1/2 to $3.26 per bushel, and an escape could suggest a direction.
The range is formed by the 223.6pc and the 200pc projection levels of a downtrend from $3.55.
A break below $3.22-1/2 could cause a fall into $3.17 to $3.20-1/4 range while a break above $3.26 could lead to a gain into $3.27-3/4 to $3.29-1/4 range.
The bias could be towards the upside, as support at $3.22-1/2 is strengthened by another one at $3.22-3/4, the July 15 low.
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