Tech Guy Opening Calls and Crude Oil Chart 11/28/22
March Wheat - 1 Higher
Dec Wheat - Steady to 1 Lower
Jan Beans - 1 to 2 Lower
My fingers got too quick and fat earlier. Accidental click on the publish button. LOL
Jan Crude Update: The sellers needed to test and take out last Monday's low today in order to clean house even more. However, crude managed to close above last Monday's low and Friday's low, then closed positive on the day after testing much lower prices. I need to see follow through buying tomorrow.
Like I said, very strong buyers were entering last Monday, but they have had to withstand the last 3 trading days. I think tomorrow closes higher again. Here is a fresh perspective - the Jan Crude chart by itself.
Notice the double bottom from the Sep 28th lows and today in the Jan Crude Oil. As you can see on the daily Crude chart the ultimate target is about 95 - this could take 2-3 weeks.