October Crude Oil crashed through support levels. This creates up pressure for this week.
support - 75.25
74.50
resistance - 77.00
78.00
November Soybeans marked their low at the 955.00 support level, after selling off about 15 cents from the highs.
support - 952.00
946.00
resistance - 978.00
989.00
December Soymeal marked it's low 2 ticks above the 301.00 support, after selling off about 6 bucks.
support - 300.50
296.00
resistance - 308.00
310.50, 313.00
September Corn marked it's low 1.75 cents below the 369.50 support price, then rallied 6.50 cents.
support - 370.00
367.00
resistance - 375.00
381.00
December Corn:
support - 391.75
389.00
resistance - 376.00
401.00
The December and September Corn 1 hour charts have formed a well structured triple bottom that is usually a reliable point to buy. Take a look at December.
September SRW Wheat marked it's high 2 ticks above the 533.00 resistance price, after rallying about a dime.
support - 523.00
519.50
resistance - 534.00
544.00
September HRW Wheat marked it's low 1.75 cents below the 533.00 support level, then rallied about 12 cents low to high.
support - 537.00
530.00
resistance - 544.50
556.00
September Spring Wheat marked it's low 2.25 cents above the 580.00 support price, then rallied 13 about cents low to high. Spring wheat has been trading in a tight range between 576.00 and 600.00 for about 2 and 1/2 weeks, and is therefore building a lot of energy to breakout one direction or the other. It has marked slightly higher lows the last 10 trading days, indicating a run higher has the statistical edge.
support - 589.00
583.00
resistance - 600.00
613.00
Sep S&P marked it's high about 14 points below the 5600 resistance level.
support - 5525
5475
resistance - 5600
5662
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