Daily Technical Overview
DEC WHEAT Resist: 863-864, 872 1/2, 887 1/4* ST Trend: Sdwys/Down
(847 3/4) Supprt: 837*, 815- Obj: 837 TRP: 873.50
Comment: The current selloff signals a bear reversal and calls for pressing declines to test 837* weekly
support. Sustained action below 849 1/4 should fuel selloffs. A close under 837* is bearish and projects an
extension to 815- as well as harder selloffs. A bounce off 837* suggests corrections back into the 850-873
1/2* area. A close over 873 1/2* is needed to stop bear trending action.
DEC CORN Resist: 747, 753, 759 1/2* ST Trend: Sdwys/Down
(738 1/4) Supprt: 725 1/4, 705-704, 685- Obj: 704 TRP: 759.50
Comment: The current drop off alerts for pressured action back under 725-, testing the late September
swing low. A close under 704 signals for a larger bear selloff. Trade will need to hold off 725+/- to start a
shift back to sideways higher trending action. A close over 759 1/2 or pop over last week’s high is needed
to launch advances up around 790-800.
NOV SOYBEANS Resist: 1512, 1520 1/2, 1611 1/4* ST Trend: Down
(1493 3/4) Supprt: 1478-1477, 1452 1/2* Obj: 1452 1/2 TRP: 1611.25
Comment: The market is bearish and current selloffs alert for a wash the next few days to 1452 1/2*
support. Be alert for a bounce / bottom off the weekly support at 1452 1/2*. Any corrections will need to
power over the 1520-1525 area to boost retracements up around 1600. A close over 1611 1/4* is needed to
start a short term bottoming turnaround.
