July Crude Oil marked the high 20 cents above the 78.95 resistance level, then it pulled back about 65 cents. The last 3 days have been a consolidation in a larger uptrend.
support - 78.30
77.65
resistance - 79.35-79.60
80.60
July Soybeans marked it's low 2 cents below the 1180 support. Beans should not have to re-test last week's low.
support - 1178.00
1176.50
resistance - 1193.00
1205.00
July Soymeal marked it's low 3 ticks above the 365.00 support price, then rallied 7 bucks.
support - 365.00
359.00
resistance - 373.00
379.00
July Corn sold off to test old support at 448.50, but this lagging should be short lived.
support - 448.00
444.50
resistance - 459.50-460.50
463.50
July SRW Wheat marked the low 1 cent above the 610.00 support, after selling off 12 cents from the high. Wheat continues to look like it's forming a broader bottom after the extended correction.
support - 611.00
605.00
resistance - 623.00
627.50
July HRW Wheat marked it's low 2.75 cents below lower support of 628.00, and continues to lag Chicago wheat.
support - 623.50
621.00
resistance - 640.00-641.50
648.00
July Spring Wheat is the weakest wheat contract as it is violating support the most. The odds are increasing that Spring Wheat will test the April low of 635.00
support - 646.00
638.50
resistance - 667.00
677.00
The Sep S&P looks to have completed a triangle (5 wave) correction the last 3 trading days, in a larger, strong uptrend.
support - 5420
5396
resistance - 5455
5600-5625
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