top of page
If You Haven't, Try Our Daily Grain Market Reports FREE for 30 Days!

Tech Guy Weekend Comments 3/9/24

May Corn and Soybeans showed buying strength on Friday in the face of neutral report numbers, each marking new highs for the move. It is normally bullish when markets react this way to a neutral report, especially when closing at the highs of the weekly bar.


April Crude Oil reversed lower, 50 cents below 80.50 resistance, then sold off over 2 bucks.

support - 77.65

77.00

resistance - 78.95

80.00


May Soybeans marked it's low 2.25 cents below support of 1156.00, then rallied 29 cents.

support - 1175.00

1166.00

resistance - 1192.50

1203.00


May Soymeal marked it's low 1 tick below 331.00 support, then rallied 11 bucks.

support - 339.20

337.50

resistance - 344.00

352.50


May Corn marked it's low 2 ticks below 432.00 support, then rallied 8 cents.

support - 436.50

431,50

resistance - 446.00

456.00


May SRW Wheat marked it's low 1 cent below 527.00 support, then rallied for 15 cents.

support - 534.00

530.00

resistance - 543.00

551.00


May HRW Wheat marked it's low 8.50 cents below support, then rallied almost 40 cents, breaking out to the upside past the 582.00 resistance/breakout level. This is a fakeout/shakeout pattern that is a strong indication of a solid low or bottom.

support - 580.00

575.00

resistance - 594.00

611.00


May Spring Wheat marked it's low 1.50 cents below 650.00 support, then rallied 14 cents.

support - 660.00

654.00

resistance - 666.00

675.00


June S&P marked it's high 11 points above 5182 resistance, then sold off 50 points to close within 2 points of 5134 support.

support - 5114

5086

resistance - 5162

5194



Recent Posts

See All

Comments


bottom of page