March Wheat - 0.50 Lower
March Corn - 0.25 Lower
March Soymeal - Steady
March Beans - 0.75 Lower
February Crude Oil sliced through resistance at 74.20 and marked the high at 74.99, before selling off about 1.80 from the high.
support - 72.70, 71.75
resistance - 74.35, 75.00
March Soybeans marked it's high 3 ticks above the 1009.00 resistance on what was a 4.50 cent recovery from Friday's losses. I believe beans are marking an A-B-C contracting triangle, with today's leg down being the C leg. We will most likely see new highs for the up move tomorrow.
support - 995.00-993.25, 988.00
resistance - 1010.00, 1016.00, 1027.00
March Soymeal marked it's high near the 314.50 resistance level, then sold off 7.50 bucks to nearly testing the 306.00 support price. Today's up and down move also appears to be the B-C legs of this small correction.
support - 306.00, 302.50
resistance - 314.50, 322.00, 334.00
March Corn settled 7.00 cents higher on the day, after the C leg selloff on Friday. Additionally, a new high for the move occurred at 460.25.
support - 456.75-455.50, 453.00
resistance - 460.50 - breakout, 475.00
March Wheat rallied 10.75 on the day, recovering from Friday's capitulation/washout of the longs.
support - 538.75-538.00, 535.00
resistance - 548.50, 553.00-555.00
March HRW Wheat was even stronger, marking a 14.00 cent gain on the day.
support - 552.00-550.25
resistance - 563.50, 572.00
March Spring Wheat also reversed higher from Friday's bloodbath, and settled up 14.50 on the day. It is noteworthy technically that the close is above Friday's high.
support 585.00, 580.00
resistance - 601.00, 611.00
March S&P rallied past the 6000 resistance price on the way to 6068.25 high, then corrected back down to 6000. Resistance becoming support.
support - 6000, 5980
resistance - 6068, 6108
Comentários