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Crude Oil Gap

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We are watching two key price levels this week. First, we are watching the large May-to-June crude oil gap on the continuation chart. At the moment, it is $21 per barrel. Second, we are watching soybeans. If nearby soybeans close below support at $8.21, then the next long-term chart support is the May 2019 low at $7.80.

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Kluis Commodity Advisors is a trade name used by the Wedbush Futures division of Wedbush Securities Inc. ("Wedbush"). Wedbush is a futures commission merchant and registered broker-dealer, member FINRA/SIPC. Futures customers should be aware that futures accounts, including options on futures, are not protected under the Securities Investor Protection Act. Past performance is not necessarily indicative of future results. Because the risk of loss in trading can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition. Comments contained in these materials are not intended to be a solicitation to buy or sell any commodities.

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Kluis Commodity Advisors (KCA) is a full-service broker with a combined 70 years of experience in the agricultural hedging business, assisting producers and processors with their grain marketing and risk management needs.

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