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Tech Guy Weekend Comments 10/15/23

The results so far with these support and resistance prices given daily - they are either the daily high or low, an intraday swing high or low, or near the close for the day. It's a lot to keep up with, but I believe it's worth the time to learn how these markets move each day.


The 2nd support level in November Soybeans turned out to be the closing price on Friday - 2nd support - 1282-1279.

1st support - 1279, 2nd - 1273, 3rd - 1260 - unlikely

1st resistance - 1300, 2nd - 1312, 3rd - 1316, 4th - 1330


December Corn's low was 1.5 cents below given support, and the close was half a cent above the upper support price listed - 493.5-492.

1st support - 490, 2nd - 487

1st resistance - 498.5, 2nd - 507.5


December SRW Wheat's high print on Friday (586.25) was 3 ticks (.75 cents) above the 2nd resistance level of 585.5.

1st support - 574.5, 2nd - 570, 3rd, 560 - unlikely

1st resistance - 586.5, 2nd - 597, 3rd - 608


December KC Wheat fell short of the 1st resistance level by 2 cents on Friday, and the low & closing price was in the area of the support level given (670-669).

1st support - 666, 2nd 662.5

1st resistance - 689, 2nd - 722


December Spring Wheat's low price on Friday was 1 tick into the 721-719 support range given on Friday. Also, Friday's high was .75 cents below the 1st resistance.

1st support - 720.5, 2nd support - 712

1st resistance - 737, 2nd - 754

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