Most commodities had wild rides on Friday due to unsettling world events.
May Crude Oil traded up to resistance, then reversed down to the support levels.
support - 81.90
80.30
resistance - 85.75
87.75
May Soybeans rallied to about 10 cents, to within 2 cents of the 1st resistance.
support - 1145.00
1143.00
resistance - 1155.50
1163.00
May Soymeal rallied to 3 ticks above the upper resistance level at 345.50.
support - 342.00
339.00
resistance - 347.70
352.50
May Corn rallied to within 2 ticks of the 434.50 resistance level.
support - 432.50
431.00
resistance - 437.50
446.50
May SRW Wheat rallied on Thursday night to 3 cents above the 555.00 resistance.
support - 545.50
540.00
resistance - 561.00
568.00
May HRW Wheat rallied to about 3 cents above the 589.00 resistance level.
support - 579.50
574.00
resistance - 592.50
597.00
May Spring Wheat rallied to about 2.75 cents above resistance of 647.50.
support - 644.00
640.50
resistance - 652.00
663.50
June S&P marked the low 9 points above the 4952 support level, after selling off about 88 points.
support - 4986
4950
resistance - 5095
5179
Note on cocoa - Above average volume with a near doji bar at new highs on Friday is a warning that a temporary top is likely to be in place. A correction to 8700-8600 would be reasonable over the next week or 2.
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