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Tech Guy Opening Calls & Comments 10/31/23

Dec Wheat - Steady to 1 Higher


Dec Corn - Steady


Nov Beans - Steady to 1 Lower


December Crude Oil bottomed out today in between the 2 support levels of 81.75 and 80. The pattern is a V bottom and should be a sturdy low or very close.

support - 81.10

80.50

78.00

resistance - 83.70

86.25

89.00


November Soybeans bottomed out directly in between the 2 given support prices, and then rallied to 3.25 cents above stated resistance. Historically, this pattern would normally elicit a selloff to at least 1297-1296 before rallying.

support - 1304.50

1297.00-1294.00

resistance - 1323.50

1335.00


December Corn marked it's low 2.5 cents above support today, and found resistance 1 cent above the given number of 482.

support - 475.50

472.00

resistance - 483.50

485.25


December SRW Wheat marked it's low directly in between the 2 given support prices.

support - 547.00

539.00

resistance - 565.00

578.00


December KC Wheat continues marking new lows - very weak. It closed 2 cents below lower support today.

support - 627.50

619.00

resistance - 645.00

660.00


December Spring Wheat fell through support at 710.00, bottomed at 703.25 and rallied to 710.00 where the new resistance was. Support became resistance.

support - 706.00

699.00

670.00 - weekly low to the left

resistance - 710.00

717.00

726.50


December S&P marked the session low overnight that was directly between the 2 given numbers, and continued to rally. It marked the session high 6 points above the 1st resistance of 4209.

support - 4199

4188

4170

resistance - 4234

4267

4303

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