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Writer's pictureTech Guy

Tech Guy Opening Calls & Comments 10/29/24

Dec Wheat - 1.25 Higher


Dec Corn - 0.25 Lower


Dec Soymeal - 1.20 Higher


Jan Beans - 1.00 Lower


December Crude Oil marked it's high 17 cents above the 68.35 resistance level, then sold off about 1.75 bucks high to low - plenty of opportunity.

support - 66.65

66.25

resistance - 68.30

69.00


January Soybeans marked the low 2 ticks below the 979.00 support price, after selling off about 12 cents high to low.

support - 979.00

976.50

resistance - 991.50

995.50 - breakout


December Soymeal also continued selling off and marked it's low 1 dollar above the 300.00 support level, after falling about 5 bucks from the evening high.

support - 301.50-300.00

298.00

resistance - 304.00

307.00



December Corn marked it's low 1.00 cent above the 409.00 support price, then rallied almost a nickel low to high.

support - 412.75

411.00

resistance - 415.00 - breakout

420.00


December SRW Wheat traded to within 1 tick of yesterday's low, then rallied 14 cents low to high, surpassing the 572.00 resistance level by a few ticks. This is a bullish development.

support - 567.00

561.50

resistance - 580.00

585.50, 589.00


December HRW Wheat rallied 13.00 cents on the day while eclipsing the 574.50 resistance by 3.25 cents.

support - 571.50

564.00 - if the wheats can't touch support, this is bullish

resistance - 581.50

591.50


December Spring Wheat rallied 11.25 cents on the day, surpassing the 605.50 resistance by a nickel.

support - 604.00

597.50

resistance - 615.00

624.00


December S&P marked it's low 3.50 bucks above the 5834 support price, then rallied more than 45 bucks low to high.

support - 5860

5840

resistance - 5887

5909


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