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Tech Guy Opening Calls & Comments 8/12/24

Writer's picture: Tech GuyTech Guy

Sep Wheat - 0.75 Lower


Sep Corn - 0.25 Higher


Dec Soymeal - 0.40 Higher


Nov Beans - 1.75 Higher


September Crude Oil Blew through resistance levels to the upside.

support - 78.10-78.00

77.30

resistance - 80.20

82.25


November Soybeans crashed trough support levels of 984, but managed a close 4.00 cents above that price.

support - 983.00

975.00

resistance - 1000.00

1016.00


December Soymeal marked it's low 3.80 below the 306.50 support price, but managed a close only 1.50 below that mark.

support - 303.50

285.00

resistance - 309.50

313.00


September Corn marked it's high 1.75 cents below the 387.00 upper resistance level, after rallying 12 cents low to high.

support - 381.50

376.00

resistance - 387.00

394.00

December Corn:

support - 399.00

394.00

resistance - 404.00 - breakout

410.00


September SRW Wheat marked it's low 4.50 cents below the 532.50 support level, then rallied almost 13 cents low to high.

support - 534.00

527.00

resistance - 547.00

556.00


September HRW Wheat crashed through support on the low, but managed to close in between the 548.00 and 551.00 support prices.

support - 545.00

539.00

resistance - 559.00

568.00


September Spring Wheat marked it's low 3.75 cents below the 582.50 support level, then rallied 17 cents low to high.

support - 588.50

580.00

resistance - 600.00

613.00


Sep S&P marked it's low 2.75 cents below the 5350 support level, while trading in a 50 dollar range. This is the 2nd small range day in a row. A big move, probably up, is immanent.

support - 5345

5316

resistance - 5437

5600



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