Tech Guy Christmas Comments & Price Levels 12/24/21

February Crude Oil traded in a small 65 cent range while remaining in between all resistance and support levels - energy building day.

support - 57.75, 56.90

resistance - 58.75, 59.05-59.15, 59.65

January Soybeans marked the high price 2.75 cents above the 1062.00 resistance number, after rallying about 13.75 cents from the open/low price. At the very least, beans have begun an up correction.

March support - 1068.50, 1062.25

March resistance - 1086.50-1088.00, 1093.25

March Corn marked its high price 1.00 cent shy of the 452.25 swing high/resistance point, after a move up of about 5.50 cents from the evening opening/low print.529.75,

support - 449.00, 445.00

resistance - 452.25 - breakout, 465.00

March SRW Wheat marked its high price exactly in between the 522.50 and 527.50 resistance numbers, after a rally of about 7.00 cents from last night's opening price bar.

support - 520.00, 516.25

resistance - 527.50, 535.00

March HRW Wheat marked its high price 2.00 cents above the 533.00 resistance point, after rallying about 6.50 cents from the opening price bar. Hard wheat has a more bullish chart structure than soft wheat.

support - 529.75, 527.50, 522.00

resistance - 537.00-540.00, 550.00

March Spring Wheat marked the high print 1 tick shy of the 583.00 resistance level, and stayed 1.00 cent above the 578.00 bracket support, then settled unchanged for the day. The bulls still seem to want to take price higher.

support - 579.00, 576.00

resistance - 588.00-590.00, 596.50

Vegetable Oil:

There are nine major vegetable oils in the world marketplace. Palm oil is the most widely traded vegetable oil, followed by soybean, canola (aka rapeseed), sunflower, palm kernel, peanut, cotton, coconut, and olive. Palm oil is considered the least healthy, canola the most healthy, but olive is the most tasty.

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