Breakout Dec16 White Maize above resistance.

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Below is a daily chart of the DEC16WMAZ contract showing the breakout from the downward trend, gap closed which was previous left at R3770 and possibly a further rally on the cards as shown by the light grey arrow and horizontal line…decgraph2810Weather models suggest little rains over South Africa’s main maize growing regions for the next week which may well support and spur bulls to take prices even higher.  Major resistance should be provided at R3900 if the rally persists whilst a slide lower below R3600 should provide for bearish