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Tech Guy Opening Calls & Comments for 7/21/22

Sep Wheat - 1 to 2 Lower

Sep Corn - Steady to 1 Higher

Dec Corn - 2 to 3 Higher

Nov Beans - Steady

Tomorrow is the 35th day in the 35-38 day cycle that has been very regular the past 6 months - marking a significant swing low or high. Based on the current technical setup I have to think corn and soybeans are still in the process of carving out a swing low.

Sep Crude Update: formed a right shoulder today between 94.5-97.5 (a good place to buy). The neckline comes across price at about 100.5

The ESU - mini S&P - worked through resistance around 3950 today and appears to be targeting 4158 - a previous swing high level. This is a bare bones chart going back to June showing the low marked on 6/17 and previous resistance.


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