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Tech Guy Opening Calls & Comments 7/31/24

Writer's picture: Tech GuyTech Guy

Sep Wheat - 0.50 Lower


Sep Corn - 0.25 Lower


Sep Soymeal - 0.80 Higher


Nov Beans - 1.25 Lower


September Crude Oil rallied past the upper resistance of 77.65 by 41 cents. Crude Oil is up 3.66 on the day in after hours trading. This big move is the larger playing field mentioned a few days ago, which is manifesting .

support - 77.60

76.20

resistance - 78.75

80.00


September Soybeans marked it's low 3.25 cents below the 1008.50 support level, then rallied 7 cents from the stated level to the high.

support - 1011.50

1001.00

resistance - 1022.00

1032.00

November Soybeans:

support - 1020.50

1010.00

resistance - 1031.00

1043.00


September Soymeal marked it's low 1.20 bucks from the 324.00 support price, after selling off about 7 bucks from 50 cents below the 333.00 resistance.

support - 326.00

324.20

resistance - 333.00

336.00 - breakout point


September Corn marked the low today at 381.00, which was almost directly in between the 2 stated support levels.

support - 380.50

377.00

resistance - 391.00

397.00

December Corn:

support - 398.50

394.00

resistance - 406.50

413.00


September SRW Wheat marked it's low 1.50 cents above the 514.50 middle support price, then rallied 15 cents to 1 cent past the 533.00 resistance level.

support - 525.00

515.00

resistance - 535.00

547.00


September HRW Wheat marked it's low 1.50 below the 540.50 support level, then rallied 17 cents, before backing off of the high into the close.

support - 544.75

541.00

resistance - 558.00

567.50


September Spring Wheat marked it's low 2.75 cents above the 574.00 support level, then rallied 13 cents. Afterwards it sold off 12 cents from the high into the close.

support - 575.50

564.00

resistance - 593.00

613.00


Sep S&P screamed through resistance today rallying about 96 bucks.

support - 5542

5527

resistance - 5594 - gap fill

5671



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