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Tech Guy's Opening Calls & Comments

July Wheat - steady to 1 higher


July Corn - steady


July Soybeans - 3 to 5 higher


Commentary - The verdict is still out on the grains. Support held in July Wheat and Corn while July Soybeans made a slightly lower low. Also July Corn closed the overhead gap from Sunday night - at least we do not have a break away gap to the downside! We have to remain patient and flexible. This is a difficult time of year for direction.

July Wheat support - 1028, resistance 1073

July Corn support - 779, resistance - 816

July Soybeans - 1619, resistance 1664

June Crude Oil update - we corrected from the 105.94 high yesterday to 102.10 today. .I expect 101.25 to hold support while 106-108 are nearterm upside targets. The idea here is Crude is consolidating (building energy) in a triangle between 100 and 108. the most likely scenario is still a breakout up above 108 towards 115 area.

 

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