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Tech Guy Opening Calls & Comments 10/24/23

Dec Wheat - Steady to 1 Higher


Dec Corn - Steady to 1 Lower


Nov Beans - 2 to 3 Lower


As a reminder, when support or resistance is not (near) the low or high of the day, these levels can switch from support to resistance or vice versa. The numbers can also be a swing high or low, before or after the actual high/low of the day, or near the closing price.


December Crude Oil sliced through the 84.00 support today, taking out sell stops for energy. The low was 82.94 and crude closed at 83.83, 17 cents below support.

support - 83.45

80.00

resistance - 86.70

89.75


November Soybeans marked it's low 2 cents above support of 1278.50 and closed at 1293.50.

support - 1287.50

1272.00

resistance - 1301.00

1305.50


December Corn marked it's low 1 tick above lower support at 482.50. Today is a reminder to list all possible levels even when you have a bias that an event is unlikely.

support - 481.50

479.00

resistance - 490.00

492.50


December SRW Wheat marked it's low 1.75 cents below lower support today.

support - 577.00

569.00

resistance - 584.50

597.00


December KC Wheat made it's low 2 cents below lower support and closed about 6 cents above the low print.

support - 661.00

653.50

resistance - 670.50

681.00


December Spring Wheat sliced through the new support level at 729.50 today, taking out sell stops for energy. The close was 1.25 cents below the 729.50 support.

support - 724.50

716.00

resistance - 738.00

748.00


The 1st support level of 4237 was 3.25 points below the actual low today in the December S&P, and the high was 1.5 points below given resistance of 4292. Check out today's S&P chart with yesterday's levels labeled.


S&P support - 4253

4244

4213


resistance - 4291

4311

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