January Crude Oil price has steadily been declining since last Wednesday. We could begin a rally from current lows but confidence is only moderate.
support - 66.80, 64.50
resistance - 77.75, 68.50
January Soybeans are getting closer every day to breaking out to the upside from the 999.00-1000.00 price level.
support - 991.75, 987.50
resistance - 1000.00 - breakout, 1012.00
January Soymeal came within a few ticks of testing the November 15th low of 285.30 on Friday, but the traders were frontrunning the area - buyers stepping in before price went down.
support - 285.50-285.30
resistance - 291.00-293.00
March Corn has marked 2 consecutive strong up days where the close is at or very close to the high. In fact, on the continuation chart, corn has cleared the top of the triangle - a solid uptrend is underway.
support - 436.00-434.50
resistance - 444.50, 453.00
March SRW Wheat has not yet broken free of it's triangle, however, I believe it has bottomed out and that the buyers have taken control. The top of the triangle is 569 - this will be the area of truth.
support - 552.50-550.00
resistance - 565.00, 569.00
March HRW Wheat has found support in the 550.00-551.00 region, and is most likely building energy for another leg up to break free from it's bottom formation.
support - 548.75
resistance - 559.00, 568.00
March Spring Wheat consolidated Friday after a buy day on Thursday. Spring Wheat is also working up from a double bottom.
support - 592.50, 586.00
resistance - 600.00 - breakout, 609.00
December S&P continues it's steady uptrend marking a new high again on Friday.
support - 6089, 6076
resistance - 6182 = swing measure target
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