TECHNICALS — CBOT corn to fall toward Oct. 10 low $4.70 — 1/4

For more technical analysis, please click TECH/C SINGAPORE, Oct 13 (Reuters) — CBOT December corn is expected to fall toward its October 10 low of $4.70-1/4 per bushel, as it has completed a bounce from this level. The completion was indicated by the contract's failure to break a resistance at $4.83-1/4 and the subsequent fall. It is not very clear if the bounce would unexpectedly extend later on. The extension will only be confirmed when the market breaks above $4.83-1/4. The break could lead to a gain to $4.87-1/2. On the daily chart, the bounce during the previous trading session looks weak, overshadowed by the big black candle on October 9. There is no sign of a downtrend reversal. The wave pattern indicates a further slide toward $4.57-1/4, the bottom of the wave B. Wang Tao is a Reuters market analyst for commodities and energy technicals. The views expressed are his own. His analyses are exclusively published on Workspace - a platform provided by London Stock Exchange. * 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 regardi