Tech Guy's Opening Calls
Corn: down 2 to up 3
Soybeans: up 1 to 5
Wheat: up 12 to 16
Russia - Ukraine News
Russian President Vladimir Putin signed a decree on Monday recognizing the independence of the separatist Donetsk People’s Republic and Luhansk People’s Republic in eastern Ukraine’s Donbas region.
Later, at 4:18 PM Central Time, several news services reported:
Putin orders troops into Donetsk and Luhansk on "peacekeeping duties".
ABC news reported 30% of the people in the two “rebel” oblasts support being aligned with Russia and 70% are loyal to Ukraine.
There is a huge difference between a peace keeping force moving into a rebel oblast and an invasion of a sovereign country.
Tech Talk from the Tech Guy
A resistance area is a price level on a barchart that, as the price moves up closer and closer to the resistance area, there are more and more sell orders, making it less likely the price can continue in an uptrend.
An easy to recognize resistant area is a double top, which is also one of the most reliable resistance areas on any chart. Prices usually decline after making a double top.
Likewise, an easy to recognize support area is a double bottom, which is also one of the most reliable support areas on any chart.