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Tech Guy Opening Calls & Comments 10/25/23

Dec Wheat - 1 to 2 Higher


Dec Corn - Steady to 1 Lower


Nov Beans - Steady to 1 Lower


December Crude Oil revolved around the 83.40 support until 10:00 AM CDT, then the sellers took out sell stops down to 82.08. Fifteen minutes later price was back above 83.40, and then marked higher highs and lows the rest of the session. Crude was trading at 85.27 by the time of this writing.

support - 84.10

83.00


November Soybeans re-visited yesterday's support level of 1278.50 within 2 ticks. Today's low of 1278 is almost directly in between yesterday's numbers of 1287.50 & 1272. Sometimes it takes more than 1 day for a support or resistance level to be conquered.

support - 1284.00

1276.50

resistance - 1297.50

1303.50


December Corn marked it's low price 2.25 cents below the stated support of 479 today and closed at 480.50.

support - 479.00

476.00


December SRW Wheat first marked its high 1.75 cents above resistance of 584.50, then later in the session marked the low 2 cents below the 569 support. The trading range for the day was about 20 cents.

support - 568

565

resistance - 575.00

588.50


December KC Wheat first marked it's high 2.75 cents below the 670.50 resistance, then later marked it's low 5 cents below the 653.50 support today. KC wheat was rangebound most of the day session between 653.50 and 649.25.

support - 648.00

643.50

630.00

resistance - 665.00

673.00


December Spring Wheat marked it's high price in overnight trade at the given resistance of 738, and later marked it's low of 720.25 in between the 2 support levels of 716.00 and 724.50.

support - 720.25

716.00

I don't anticipate this, but a complete washout to the downside would take prices below 707.50.


December S&P marked it's low 9.25 points below support of 4213. It closed about 4216.

support - 4186 - 4176

4112

resistance - 4232

4249-4254

4281

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