March Wheat - Steady
March Corn - Steady to the tick
March Soymeal - 0.20 Lower
March Beans - 0.75 Lower
February Crude Oil marked it's high and close above the 80.10 resistance level. Crude was up 3.00 at 80.50 at the time of this writing!
support - 79.30, 77.20
resistance - 82.25, 83.10, 83.70, 84.55 - all these are bumps to the left side of chart.
March Soybeans marked the low 3 ticks below the 1040.50 support price, after selling off about 14 cents from the morning high. Beans inability to back fill more than it did today indicates strength, nearterm. The last swing high to the left is 1037.25, and that level was front run by the fund bulls by 2.50 cents! - today's low = 1039.75.
support - 1041.00, 1026.00
resistance - 1064.00, 1075.00
Check out the 30 minute beans with Elliot labeling:
March Soybean meal marked it's low 60 cents from the 300.80 support price, after selling off about 8 bucks high to low.
support - 301.80, 300.00
resistance - 310.00, 315.00
March Corn displayed impressive strength, not being able to sell below yesterday's low of 473.50 and closing very near to the 480.00/daily high.
support - 475.00-473.50, 466.75
resistance - 481.00 - breakout, 488.00, 494.00 - last 2 are old highs
March SRW Wheat marked it's low 1.00 cent above the 541.00 support level, after selling about 9.50 cents from high to low.
support - 544.00, 541.00
resistance - 552.50-555.00, 570.00
March HRW Wheat marked it's low 3.25 cents below the 557.25 support price, then rallied about 9 cents low to high. The low was closer to an old swing point to the left at 553.25.
support - 554.00-553.00
resistance - 563.00, 569.00
March Spring Wheat marked it's low 1.00 cent below the 587.50 support price, after selling off 8.50 cents high to low.
March S&P rallied almost 100 points, and indeed closed above the 5960 level, to indicate the bulls are back in charge here.
support - 5960, 5915
resistance - 6065, 6110
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