SINGAPORE, May 29 (Reuters) - CBOT July corn CN26 may retest support at $4.52 per bushel; a break below could trigger a drop to $4.48-1/4.

A projection analysis of the downtrend from $4.84-1/4 reveals support at $4.52, which triggered a bounce that appears to have completed, as it failed twice to extend above the resistance at $4.58-1/4.

This projection analysis suggests a target zone of $4.42 to $4.48-1/4. Immediate resistance is at $4.56, a break above which could lead to a gain to $4.58-1/4.

On the daily chart, a large flat pattern is developing, suggesting a target around $4.49-1/2. The contract is unlikely to break below $4.49-1/2 and fall toward $4.43-1/4, as the flat may turn out to be a bullish continuation pattern.

The fall might end around $4.49-1/2

** Wang Tao is a Reuters market analyst for commodities and energy technicals. The views expressed are his own. His analyses are exclusively published on the Workspace platform - a London Stock Exchange product.

** 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.

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