top of page
If You Haven't, Try Our Daily Grain Market Reports FREE for 30 Days!

Tech Guy Opening Calls & Comments 6/12/24

Writer's picture: Tech GuyTech Guy

July Wheat - 1.25 Lower


July Corn - 0.75 Lower


July Soymeal - Steady


July Beans - 0.50 Lower


July Crude Oil continues to rally and found resistance 28 cents below the 78.50 resistance mark. The uptrend is well established, therefore producers may want to look at pricing fuel needs.

support - 77.90

77.15

resistance - 79.60

80.60, 81.60


July Soybeans marked the low 1.50 cents below the 1172.50 support, and managed a close a few cents up from there.

support - 1174.50

1169.50

resistance - 1186.50

1193.00, 1205.00


July Soymeal marked it's high at the 365.00 resistance level, then closed about 5 bucks down from there.

support - 358.80-358.00

355.00

resistance - 365.00

371.50


July Corn marked the low 1 cent above the 447.50 support level, then rallied 7 cents low to high.

support - 448.50

444.00

resistance - 457.00

463.50


July SRW Wheat marked it's low 2.50 cents above the 608.00 support, after selling off about 16.50 cents from yesterday's high which was 2 ticks from resistance.

support - 610.50

605.00

resistance - 635.00

654.00


July HRW Wheat crashed through support on continued harvest pressure.?

support - 629.00

623.00

resistance - 660.00

668.00, 674.00


July Spring Wheat marked the low 3.25 cents above the 659.00 support level, after selling about 16 cents high to low.

support - 665.50

659.00

resistance - 676.50 - breakout from possible bottom formation.

685.00, 697.00


June S&P had a breakout rally on the 7:30 data this morning, finding resistance just above the 5450 resistance mark.

support - 5423

5412

resistance - The Nasdaq is leading this upside breakout, up more than 360 points as of this writing. Pretty strong equity bull market, overall. I usually look for increments of 50-75 S&P points to the upside in these market conditions, as today was up about 54. We may be heading for an upside blowoff top - just be on the lookout.



Comments


bottom of page