March Wheat - 0.50 Lower
March Corn - 0.25 Lower
March Soymeal - 0.50 Lower
March Beans - 1.75 Lower
March Crude Oil indeed marked a small up correction day and at the time of this writing was positive 0.74 cents on the day. There was a down move later in the session which printed the low for the day 13 cents above the 72.80 support level.
support - 72.90, 72.30 - yesterday's low
resistance - 74.30, 74.60, 75.20
March Soybeans marked the high 1 tick shy of the 1051.00 resistance price, and marked the low 1 cent above yesterday's 1040.00 low, in what was another small range, sideways day. 2 tight range days in a row, increases the probability that tomorrow will print a range expansion day, or a fakeout 1 direction with an intraday reversal with a bar expansion.
support - 1041.00, 1038.00-1035.00
resistance - 1051.00, 1057.00
March Soymeal marked it's high 2 ticks above the 303.70 resistance price, after marking the low 1 tick above the 298.50 support level.
support - 298.50, 296.50
resistance - 304.00, 308.50
March Corn marked it's high 1 tick shy of the 498.50 resistance point, after rallying 8.00 cents from 1.25 cents above the first stated support level of 480.00
support - 484.00-483.50, 477.50
resistance - 489.50, 494.50 - breakout
March SRW Wheat rallied 9.50 cents on the day, and did not trade down to support. This is positive for price.
support - 542.00, 538.50
resistance - 550.00-552.00, 559.00
March HRW Wheat rallied from the up trend line which was tested yesterday, as suspected, and was up 7.75 on the day.
support - 557.50, 554.00
resistance - 571.00, 575.00
March Spring Wheat rallied 12.00 cents for the day, and closed 1 tick above the 597.50 resistance price. All the wheats had range expansion days higher.
support - 594.00, 598.50
resistance - 611.50, 634.00 - significant areas on the daily chart
March S&P marked it's high 1 tick from the 6105 resistance level, after rallying about 76 bucks from the morning low to high. There's a possibility of several range expansion days in a row, both up and down as the information flow remains speedy. I will have a more clear picture tomorrow on this matter.
support - 6912, 5935
resistance - 6105, 6165
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