Wheat has been rejected at the 475’6 level and has traded back into support at 456’5, which if broken, favors a continuation lower into early March lows. Should 456’5 hold as support, it would favor a move back into 475’6-486’2 zone which should be a formidable area of resistance.
Lakefront Blog
Market Commentary 04.01.16
Crude Oil has pulled back from the 41.50-42.12 resistance zone as expected. Near-term support shifts higher to the 35.93-38.23 zone which is being tested. We favor further bullish action while above 38.23. We can expect the 41.50-44.76 area to be formidable resistance. A break above targets 48.29.
Market Commentary 03.31.16
Soybean Oil has extended higher above trend line resistance therefore we expect this upside move to exhaust itself fairly soon with 32.40 shifting higher as support. A break back inside the channel would indicate a near-term top as well.
