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Tech Guy Weekend Comments 12/14/24

Writer's picture: Tech GuyTech Guy

January Crude Oil marked it's high 8 ticks below the 71.50 resistance level, after rallying a bit more than 1.50 from the low.

support - 70.20-69.90

resistance - 71.50. 72.25


January Soybeans marked their low on the 986.00 support price, after selling off about 8 cents from the early morning high.

support - 986.00-985.00

resistance - 995.00-998.00


January Soymeal marked it's low 2.10 bucks below the 287.60 support point, after selling off about 4.50 from the opening range high price.

support - 285.80-285.00

resistance - 288.50, 292.00


March Corn marked it's low 3 ticks below the 440.75 support level as it continued to flesh out the C correction leg a little bit, and cleaned out a few more weak longs. Open interest has increased more than 80,000 contracts since December 3rd near the time when this up leg began. This indicates new strong handed buying and supports the rally.

support - 441.50-440.00

resistance - 448.00, 451.00


March SRW Wheat marked it's low 2.25 cents below the 553.00 support price, after selling off about a dime from the early morning high.

support - 551.00-549.50

resistance - 561.50, 567.00


March HRW Wheat marked it's low 1.25 cents shy of the 554.00 support level, after selling off about a dime from high to low.

support - 554.00, 549.00

resistance - 566.00, 570.00


March Spring Wheat marked it's low 1.75 cents above the 594.50 support price, after selling off about 9 cents from the high.

support - 597.00, 594.00

resistance - 606.00, 609.00


December S&P marked it's low a few ticks above last Tuesday's low, and 9 bucks above the 6032 support. This buying above support is called frontrunning.

support - 6047, 6039

resistance - 6060, 6085




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