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Tech Guy Opening Calls & Comments 3/28/24

May Wheat - 1.25 Higher


May Corn - Mixed, 0.25 Higher to 1.75 Lower


May Soymeal - 0.60 Lower


May Beans - 0.50 Higher


May Crude Oil marked it's low 32 cents above support then rallied past the resistance high of 83.10.

support - 82.80

82.20

resistance - 83.60

84.80


May Soybeans marked it's low at 1177.00, taking out all the sell stops down there to gain bullish energy for higher prices.

support - 1186.50

1177.00

resistance - 1208.50

1227.00


May Soymeal marked it's low 3.80 points below support, also hitting sell stops.

support - 336.00

332.80

resistance - 342.00

347.50


May Corn marked it's low on the 426.00 support level, then rallied 20 cents on the USDA Quarterly report news, blowing past both resistance points. Today's close is the highest close since February 5th on the front month continuation chart - quite a milestone.

support - 438.75

435.50

resistance - 448.50

460.00


May SRW Wheat marked it's low 1 tick above the 548.25 support price, then rallied 23 cents.

support - 559.00

554.50

resistance - 577.00

590.00


May HRW Wheat marked it's low 3 ticks below the 576.50 support level, then rallied 16 cents.

support - 584.00

581.50

resistance - 595.00

603.00


May Spring Wheat marked it's low 1.75 cents below the 645.00 support level, after selling off 16 cents from the high of 660.00.

support - 645.00

642.00

resistance - 660.00

668.50


June S&P marked it's low at the 5321 support price, then rallied almost 20 points.

support - 5301 - breakdown point

5260

resistance - 5321

5375



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