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Tech Guy Opening Calls & Comments 11/8/23

Dec Wheat - 3 to 4 Lower


Dec Corn - Steady to 1 Lower


Jan Beans - Steady


December Crude Oil marked it's low 1.34 below the middle support of 76.25 on another very weak day and closed at 75.59.

support - 74.90

73.60

70.00

resistance - 77.20-77.50

79.70-80.20


January Soybeans marked it's high 2 ticks above the 1384 resistance and marked the low 1 tick below the 1357 support. Bias still higher.

support - 1358.50

1338.00

resistance/ - 1388.50

targets 1398.50

1420.00


December Corn marked it's low 2 ticks above the 468.00 support and made the high 1 cent below the 481.50 resistance level.

support - 472.00

468.50

resistance/ - 479.00 - light

targets 485.00

487.50

497.00


December SRW Wheat opened above support and rallied, taking out all resistance levels. The high was 3.75 cents above resistance.

support - 581.50

576.50

resistance - 605.00

617.00

623.00

645.50


December KC Wheat marked the low in the first support zone at 631.75, and made it's high above all resistance. The close was 1 tick above the top resistance.

support - 645.50

638.00

resistance - 662.00

674.00

691.50

709.00


December Spring Wheat marked it's low 2.25 cents above support and made the high 2 cents above the 738.00 resistance.

support - 727.00

720.50

resistance - 742.00 - light

746.50

756.50

779.00

790.00


Lots of resistance/target prices given because bias is up in all the grains/oilseeds. Also, the grains will be volatile after 11 AM CST.


December S&P marked a swing low overnight 2 points below the first support level and did not reach up to the first resistance level. 3 small range days in a row. A breakout/range expansion day is due.

support - 4381 - bottom of the channel

4350

4328

resistance - 4411 - top of the channel

4468

4516


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