The 2014-2020 Weekly corn chart channel is functioning as support nearterm. The issue is this channel has different swing high tops. Each year the high was a bit different.
The highest high was 468. We are now trading near the lowest price of the top of the channel. You will see it on the corn weekly below. Today's low of 415.25 is directly in between the 2017 and 2018 high prices which are denoted with arrows..
April Crude Oil marked it's low 31 cents below 77.00 support, then rallied, continuing the uptrend.
support - 77.75
77.40
resistance - 79.25-79.60
81.60
March Soybeans marked it's low 3.25 cents above 1359 support - a sign of strength.
support - 1170.00
1165.00
resistance - 1176 - minor
1190
1198.50
March Soymeal marked it's low 3 bucks above support.
support - 344.00
342.60
resistance - 349.00 - minor
354.00-356.00
March Corn marked it's low directly in between the 2 stated support levels - see above - corn weekly.
support -412.25
415.75
resistance - 421.50
425.00
429.50
March SRW Wheat marked it's low at the 2nd support level.
support - 559.00
553.50
resistance - 572.00
585.50
589.50
March HRW Wheat marked it's low 1 cent below the 2nd stated support.
support - 565.00
553.50
resistance - 575.00
590.00
March Spring Wheat marked it's low 1 cent below the top support range.
support - 649.50
597.00
resistance - 660.00
671.00
680.00
March S&P marked it's high 7 points below resistance and printed the low in between the 2 support levels.
support - 5001
4965
resistance - 5066
5100
Comments