Tech Guy Weekend Comments 4/6/25

Almost all support levels were violated with the Chinese tariff news.

Looking for about 4965 support in the June S&P. This is the midpoint gap target from Thursday's gap down.

May Crude Oil:

support - 61.00, 57.25

resistance - 67.20, 70.50

May Soybeans:

support - 981.00, 961.00

resistance - 996.50, 1026.00

May Corn marked it's low 1.25 cents above the 448.0 support level, then rallied about 13.50 cents.

support - 456.50, 450.00

May SRW Wheat:

support - 524.00, 517.00

resistance - 538.50, 545.00

May HRW Wheat:

support - 553.00, 546.00

resistance - 565.00, 573.50

May Spring Wheat:

support - 582.00, 578.00

resistance - 594.00, 600.00

Brazil fact:

Brazil’s main crop growing area has a rainy season from October to April and dry season May to September. During the rainy season, rain will fall 6 to 8 days out of every 10 days. Rain and showers 10 consecutive days is not uncommon. The combines have a roof over the hoppers and the moisture content of the soybeans are usually 16% and the beans are dried using wood for fuel to make the heat.

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