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Tech Guy Weekend Comments 11/14/24

February Crude Oil marked it's Friday high price just 15 cents below resistance, then proceeded to sell off about $2.50.

support - 72.50

71.75

resistance - 74.75

75.30

76.25


March Soybeans had a blowout to the downside, taking out the 1214 support, but closed well above it.

support - 1210.00

1203.00

resistance - 1235.00

1247.00

1266.50


March Soymeal tested a weekly uptrend line, then mounted a strong reversal up.

support - 359.00

353.00

resistance - 365.00

369.00

375.50


March Corn marked it's low 1.50 cents above the 439.50 lower support and then reversed higher. The trade volume was about 35% higher than the previous 2 contract records that I have talked about recently. The open interest increased 42,666 on Friday's trade session. Don't think I have ever seen such an increase in 1 DAY - 1 week yes.

support - 444.75

441.00

resistance - 455.00

460.50

469.00


March SRW Wheat sold off to 4 cents below the 591 support level, then reversed higher to close at 597.00.

support - 592.00

587.00

resistance - 607.00

612.00

618.00


March KC Wheat marked it's low 1.50 cents below support.

support - 614.00

610.50

resistance - 622.50

630.00

636.00


March Spring Wheat marked it's low 3 cents below support.

support - 697.50

693.00

resistance - 706.00

713.00-714.00


March S&P marked it's high within the first resistance range of 4834-4838.

support - 4802

4791

resistance - 4836

4875

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