Tech Guy Opening Calls & Comments 2/10/25

March Wheat - Steady

March Corn - Steady to 0.75 Lower

March Soymeal - 0.30 to 0.50 Higher

March Beans - 0.50 Lower

March Crude Oil rallied about 1.44 on the day, closing up above the 71.90 resistance level. Let's see how far up the traders can take this correction.

support - 71.45, 70.30

resistance - 73.00-73.35, 74.80

March Soybeans closed 1 tick higher on the day, after correcting down to 1043.00, then rallying about 9 cents to the high. It is noteworthy technically that beans have marked 2 higher highs and lows since January 22nd.

support - 1046.25, 1043.00

resistance - 1064.00-1066.50, 1080.00

March Soymeal marked it's low 80 cents below the 300.00 support price, then rallied almost 4 bucks. Meal also printed a higher high on the intraday charts later in the trading session. The high of the opening bar was 302.00 and the later swing high was 302.80.

support - 300.00-299.00, 297.50

resistance - 305.50, 311.00

March Corn took out support by about 5 cents as it sliced through more sell stops on the open, then rallied about 10.50 cents from the low. This was the fourteenth trading day since this sideways correction began.

support - 488.00-487.00, 485.50

resistance - 497.00-498.50, 511.00, 525.00-531.00

March SRW Wheat marked it's low 2.50 cents above the 573.50 support level, after selling off about a dime from a mid-session bounce. Wheat's riding an uptrend line, and has tested it 3 times since it was established.

support - 577.50-576.00, 573.50

resistance - 595.50, 618.00

March HRW Wheat marked it's low 2.00 cents above the 594.00 support price, after selling off about 10.50 cents from the high. Hard wheat is following a similar, choppy uptrend, as expected because the chart is very bumpy to the left.

support - 596.00-594.00, 586.00

resistance - 615.00, 624.00

March Spring Wheat marked it's low 2.25 cents below the 624.00 support level, also printing a higher low.

support - 623.50-621.50, 612.50

resistance - 635.00, 645.00

March S&P gapped down about 36 bucks last night, then rallied about 82 bucks to the high, and closed up about 38 bucks for the session.

support - 6067-6061, 6013

resistance - 6124, 6149