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Tech Guy Comments 1/23/24

March Crude Oil marked it's high a nickel above the 75.10 resistance early in the session, then sold off to the 73.50 area for a gain of about 1.50.

support - 74.20

73.80

resistance - 75.50

76.25

76.75


March Soybeans opened strong last night and continued to bid higher for the entire session, closing above the resistance target. The move was a gain of 15 cents.

support - 1234.75

1227.00

resistance - 1251.00

1280.00-1290.00


March Soymeal traded down to within 4 ticks of 351.00 support, then rallied 10 dollars - $1000/contract.

support - 357.70

355.80

resistance - 366.00

374.00


March Corn traded up to between the 449.50 and 451.75 resistance level, then sold off 6 cents to find support at the 444 level once again.

support - 444.00

442.25

resistance - 451.50

460-461.75


March SRW Wheat's strength had it trading above support and past the 1st resistance level.

support - 595.00

591.00

resistance - 607.00

612.00

621.50-623.00


March KC Wheat marked it's low within 1.25 cents of the 603.25 support level, then it rallied up to 19 cents, past the 622.50 resistance.

support - 612.00

606.00

resistance - 621.75

624.75

630.00-635.00


March Spring Wheat marked it's high just past the 706.00 resistance, then sold off to within 1.50 cents of support at 695.50.

support - 697.75

693.50

resistance - 714.00

721.50


March S&P marked it's low within 1 tick of the 4874 support, then rallied to the 4898 resistance for a gain of 24 points.

support - 4873

4810

resistance - 4900

4967


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