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Tech Guy Opening Calls & Comments 1/21/25

Writer's picture: Tech GuyTech Guy

March Wheat - 0.25 Lower


March Corn - 0.50 Lower


March Soymeal - Steady


March Beans - 1.00 Higher to 1.25 Lower


March Crude Oil has apparently started a downtrend or a longer term correction. As expected, the continuation chart won out. Trump's plans can't be ignored.

support - 74.00, 72.80

resistance - 77.20, 77.60


March Soybeans continued it's new up leg, marking new highs for the move. The near term objective is the bottom of the continuation gap at about 1130, after which a longer term consolidation/backfill should occur.

support - 1063.50, 1054.00

resistance - 1070.00 - breakout, 1100.00


March Soymeal marked it's high above the 310.00 resistance.

support - 309.50

resistance - 322.00


March Corn marked a small correction to 482.50 during the day, then buyers quickly scooped up the offers to close it near the high of the day at 490.50.

support - 488.00, 482.00

resistance - 510.00-520.00


March SRW Wheat confirmed the bulls are in control with a big up day, spanning about 20 cents low to high, and closing on a new high for the move.

support - 555.00, 550.50

resistance - 570.00, 580.00


March HRW Wheat followed suit with a large up day.

support - 571.00, 568.00

resistance - 583.00, 603.00


March Spring Wheat closed 21.00 cents higher to 604.50 with the high price only 5 ticks above the close.

support - 601.00, 598.00

resistance/targets - 613.00, 635.00


March S&P continued buying on this new up leg that should see new highs soon.

support - 6079, 6067

targets - 6164 - old high

Yorumlar


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