KEY EVENTS TO WATCH FOR:
Tuesday, November 20, 2018
7:45 AM ET. The Retail Economist/Goldman Sachs Weekly Chain Store Sales Index
Chain Store Sales, W/W% (previous -0.8%)
Chain Store Sales, M/M% (previous +1.8%)
8:30 AM ET. October New Residential Construction - Housing Starts and Building Permits
Total Starts (previous 1.201M)
Housing Starts, M/M% (previous -5.3%)
Building Permits (previous 1.241M)
Building Permits, M/M% (previous -0.6%)
8:55 AM ET. Johnson Redbook Retail Sales Index
Ret Sales Mo-to-Date, M/M% (previous +0.2%)
Ret Sales Mo-to-Date, Y/Y% (previous +6.1%)
Latest Wk, Y/Y% (previous +6.1%)
4:30 PM ET. API Weekly Statistical Bulletin
Crude Stocks, Net Chg (Bbls) (previous +8.8M)
Gasoline Stocks, Net Chg (Bbls) (previous +0.2M)
Distillate Stocks, Net Chg (Bbls) (previous -3.2M)
Wednesday, November 21, 2018
7:00 AM ET. MBA Weekly Mortgage Applications Survey
Composite Idx (previous 316.7)
Composite Idx, W/W% (previous -3.2%)
Purchase Idx-SA (previous 220.8)
Purchase Idx-SA, W/W% (previous -2.3%)
Refinance Idx (previous 824.7)
Refinance Idx, W/W% (previous -4.3%)
8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims
Jobless Claims (previous 215K; previous 216K)
Jobless Claims, Net Chg (previous +2K)
Continuing Claims (previous 1676000)
Continuing Claims, Net Chg (previous +46K)
8:30 AM ET. October Advance Report on Durable Goods
Durable Goods-SA, M/M% (previous -2.2%; previous +0.8%)
Dur Goods, Ex-Defense, M/M% (previous -0.6%)
Dur Goods, Ex-Transport, M/M% (previous +0.1%)
Orders: Cap Gds, Non-Def, Ex-Air, M/M% (previous -0.1%)
Shipmnts: Cap Gds, Non-Def, Ex-Air, M/M% (previous +0%)
9:45 AM ET. Bloomberg Consumer Comfort Index
10:00 AM ET. November University of Michigan Survey of Consumers – final
End-Mo Sentiment Idx (expected 98.3; previous 98.6)
End-Mo Expectations Idx (previous 89.3)
12-Month Inflation Forecast (previous 2.9%)
5-Year Inflation Forecast (previous 2.4%)
End-Mo Current Idx (previous 113.1)
10:00 AM ET. October Leading Indicators
Leading Index, M/M% (previous +0.0%; previous +0.5%)
Leading Index (previous 111.8)
Coincident Index, M/M% (previous +0.1%)
Lagging Index, M/M% (previous -0.1%)
10:00 AM ET. October Existing Home Sales
Existing Sales (previous 5.19M; previous 5.15M)
Existing Sales, M/M% (expected +0.8%; previous -3.4%)
Unsold Homes Month's Supply (previous 4.4)
Median Price (USD) (previous 258100)
Median Home Price, Y/Y% (previous +4.2%)
10:30 AM ET. EIA Weekly Petroleum Status Report
Crude Oil Stocks (Bbl) (previous 442.057M)
Crude Oil Stocks, Net Chg (Bbl) (previous +10.27M)
Gasoline Stocks (Bbl) (previous 226.61M)
Gasoline Stocks, Net Chg (Bbl) (previous -1.411M)
Distillate Stocks (Bbl) (previous 119.268M)
Distillate Stocks, Net Chg (Bbl) (previous -3.589M)
Refinery Usage (previous 90.1%)
Total Prod Supplied (Bbl/day) (previous 22.387M)
Total Prod Supplied, Net Chg (Bbl/day) (previous +2.001M)
12:00 AM ET. EIA Weekly Natural Gas Storage Report
Working Gas In Storage (Cbf) (previous 3247B)
Working Gas In Storage, Net Chg (Cbf) (previous +39B)
Thursday, November 22, 2018
N/A U.S: Thanksgiving Day. Financial markets closed
N/A Marianas: Thanksgiving Day
Friday, November 23, 2018
8:30 AM ET. U.S. Weekly Export Sales
Corn (Metric Tons) (previous 893.9K)
Soybeans (Metric Tons) (previous 470.9K)
Wheat (Metric Tons) (previous 438.3K)
9:45 AM ET. November US Flash Services PMI
PMI, Services (previous 54.7)
9:45 AM ET. November US Flash Manufacturing PMI
PMI, Mfg (previous 55.9)
1:00 PM ET. U.S. financial markets close early after Thanksgiving
4:30 PM ET. Federal Discount Window Borrowings
4:30 PM ET. Money Stock Measures
4:30 PM ET. Foreign Central Bank Holdings
The STOCK INDEXES? http://quotes.ino.com/ex?changes/?c=indexes ""
The December NASDAQ 100 closed sharply lower on Monday as weakness in tech stocks is being driven by declines from semiconductor companies like Nvidia and Texas Instruments, as well as troubling reports concerning demand for Apple’s latest iterations of the iPhone. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off November's high, October's low crossing at 6580.50 is the next downside target. Closes above the 10-day moving average crossing at 6935.75 would confirm that a short-term low has been posted. First resistance is November's high crossing at 7231.00. Second resistance is the 50-day moving average crossing at 7234.75. First support is today's low crossing at 6640.75. Second support is October's low crossing at 6580.50.
The December S&P 500 closed sharply lower on Monday.The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off November's high, the 87% retracement level of the April-September-rally crossing at 2628.96 is the next downside target. Closes above the 10-day moving average crossing at 2748.35 would confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 2812.66. Second resistance is the reaction high crossing at 2823.00. First support is the 87% retracement level of the April-September-rally crossing at 2628.96. Second support is April's low crossing at 2583.60.
The Dow closed sharply lower on Monday as stocks of technology and internet-related companies dragging the market lower. The main equity benchmarks saw losses accelerate in morning trade after a report showed home builder’s confidence plummeted in November. Investor anxiety has increased as sector executives are less upbeat than at any point in more than two years. Today's low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. If the Dow extends the decline off November's high the 87% retracement level of the April-September-rally crossing at 23,812.03 is the next downside target. Closes above the 10-day moving average crossing at 25,551.40 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 25,551.40. Second resistance is the 50-day moving average crossing at 25,787.80. First support is last-Thursday's low crossing at 24,787.79. Second support is October's low crossing at 24,899.77.
INTEREST RATES? http://quotes.ino.com/ex?changes/?c=interest ""
December T-bonds closed up 4/32's at 139-22.
December T-bonds closed higher on Monday as it extends the rally off November's low. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off November's low, the 50% retracement level of the August-October-decline crossing at 140-28 is the next upside target. Closes below the 10-day moving average crossing at 138-11 would confirm that a short-term top has been posted. First resistance is the 38% retracement level of the August-October-decline crossing at 139-27. Second resistance is the 50% retracement level of the August-October-decline crossing at 140-28. First support is November's low crossing at 136-24. Second support is October's low crossing at 136-16.
December T-notes closed up 40-points at 119-090.
December T-notes closed higher on Monday as it extended the rally off November's low. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off November's low, the 62% retracement level of the August-October-decline crossing at 119.130 is the next upside target. Closes below the 10-day moving average crossing at 118.148 would confirm that a short-term top has been posted. First resistance is the 62% retracement level of the August-October-decline crossing at 119.130. Second resistance is the 75% retracement level of the August-October-decline crossing at 119.266. First support is the 10-day moving average crossing at 118.148. Second support is November's low crossing at 117.225.
ENERGY MARKETS? http://quotes.ino.com/ex?changes/?c=energy ""
December crude oil closed slightly lower on Monday as it extended the trading range of the past four-days. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off October's high, the 75% retracement level of the 2017-2018-rally crossing at 53.25 is the next downside target. Closes above the 20-day moving average crossing at 61.92 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 58.43. Second resistance is the 20-day moving average crossing at 61.92.First support is last-Tuesday's low crossing at 54.75. Second support isthe 75% retracement level of the 2017-2018-rally crossing at 53.25.
December heating oil closed higher on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday's night trading session begins. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off October's high, the 50% retracement level of the 2017-2018-rally crossing at 196.81 is the next downside target. Closes above the 20-day moving average crossing at 218.51 are needed to confirm that a low has been posted.First resistance is the 10-day moving average crossing at 212.95. Second resistance is the 20-day moving average crossing at 218.51. First support is last-Wednesday's low crossing at 205.03. Second support is the 50% retracement level of the 2017-2018-rally crossing at 196.91.
December unleaded gas closed slightly lower on Monday as it extended the trading range of the past four-days. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off October's high, the 75% retracement level of the 2017-2018-rally crossing at 150.82 is the next downside target. Closes above the 20-day moving average crossing at 168.56 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 160.10. Second resistance is the 20-day moving average crossing at 168.56. First support is last-Tuesday's low crossing at 152.40. Second support is the 75% retracement level of the 2017-2018-rally crossing at 150.82.
December Henry natural gas gapped up and closed higher on Monday. The mid-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 3.635 would confirm that a short-term top has been posted. If December extends the rally off September's low, the 25% retracement level of the 2008-2016-decline crossing at 5.204 is the next upside target. First resistance is last-Wednesday's high crossing at 4.929. Second resistance is the 25% retracement level of the 2008-2016-decline crossing at 5.204. First support is the 10-day moving average crossing at 3.993. Second support is the 20-day moving average crossing at 3.635.
CURRENCIES? http://quotes.ino.com/ex?changes/?c=currencies ""
The December Dollar closed lower on Monday as it extends the decline off last-Monday's high. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off last-Monday's high, the 50-day moving average crossing at 95.42 is the next downside target. If December renews the rally off September's low, weekly resistance crossing at 97.83 is the next upside target. First resistance is last-Monday's high crossing at 97.53. Second resistance is weekly resistance crossing at 97.83. First support is the 50-day moving average crossing at 95.42. Second support is October's low crossing at 94.47.
The December Euro closed higher on Monday as it extends the rally off last-Monday's low. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off last-Monday's low, the 50-day moving average crossing at 115.64 is the next upside target. If December renews the decline off September's high, the 87% retracement level of the 2016-2018-rally crossing at 113.54 is the next downside target. First resistance is the reaction high crossing at 115.46. Second resistance is the 50-day moving average crossing at 115.64. First support is last-Monday's low crossing at 112.46. Second support is the 87% retracement level of the 2016-2018-rally crossing at 111.16.
The December British Pound closed higher on Monday as it consolidated some of last-Thursday's decline. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends last-Thursday's decline, October's low crossing at 1.2722 is the next downside target. Closes above last-Wednesday's high crossing at 1.3092 would confirm that a short-term low has been posted. First resistance is last-Wednesday's high crossing at 1.3092. Second resistance is November's high crossing at 1.3198. First support is October's low crossing at 1.2722. Second support is the 87% retracement level of the 2017-2018-rally crossing at 1.2632.
The December Swiss Franc closed sharply higher on Monday as it extends the rally off last-Tuesday's low.The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends today's rally, the 50-day moving average crossing at 1.0168 is the next upside target.If December resumes the decline off September's high, weekly support crossing at 0.9833 is the next downside target. First resistance is today's high crossing at 1.0100. Second resistance is the 50-day moving average crossing at 1.0168. First support is November's low crossing at 0.9902. Second support is weekly support crossing at 0.9833.
The December Canadian Dollar closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 76.75 are needed to confirm that a short-term low has been posted. If December resumes the decline off October's high, September's low crossing at 75.75 is the next downside target. First resistance is the 50-day moving average crossing at 76.75. Second resistance is the reaction high crossing at 77.18. First support is last-Wednesday's low crossing at 75.43. Second support is June's low crossing at 75.00.
The December Japanese Yen closed higher on Monday as it extended the rally off November's low. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. The high-range close sets the stage for a steady to higher opening when Tuesday’s night session begins trading. Closes above the 50-day moving average crossing at 0.0890 would confirm that a short-term low has been posted. If December resumes the decline off October's high, October's low crossing at 0.0877 is the next downside target. First resistance is October's high crossing at 0.0901. Second resistance is September's high crossing at 0.0912. First support is November's low crossing at 0.0877. Second support is the 87% retracement level of the 2015-2016 rally crossing at 0.0876.
PRECIOUS METALS? http://quotes.ino.com/ex?changes/?c=metals ""
December gold closed higher on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December renews the rally off October's low, the 38% retracement level of the April-August-Decline crossing at 1251.30 is the next upside target. Closes below last-Tuesday's low crossing at 1196.60 would confirm that a short-term top has been posted while opening the door for additional weakness near-term. First resistance is October's high crossing at 1246.00. Second resistance is the 38% retracement level of the April-August-Decline crossing at 1251.30. First support is last-Tuesday's low crossing at 1196.60. Second support is October's low crossing at 1186.00.
December silver closed higher on Monday while extending the September-October trading range. The high-range close set the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the reaction high crossing at 14.950 would confirm an upside breakout of the aforementioned trading range while opening the door for additional gains near-term. Closes below last-Wednesday's low crossing at 13.860 would confirm a downside breakout of the aforementioned trading range. First resistance is the reaction high crossing at 14.950. Second resistance is the reaction high crossing at 15.070. First support is last-Wednesday's low crossing at 13.860. Second support is the December-2015 low crossing at 13.620.
December copper closed higher on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off August's low, the 38% retracement level of the June-August-decline crossing at 287.20 is the next upside target. Closes below last-Tuesday's low crossing at 266.25 are needed to confirm that a short-term top has been posted. First resistance is the 38% retracement level of the June-August-decline crossing at 287.20. Second resistance is the July-5th gap crossing at 293.10. First support is November's low crossing at 264.25. Second support is September's low crossing at 258.00.
GRAINS? http://quotes.ino.com/ex?changes/?c=grains "
December Corn closed down 2-cents at 3.62 3/4.
December corn closed lower on Monday due to spillover weakness from slumping soybean and wheat futures.Corn basis bids were steady to firm Monday, moving 1 to 5 cents higher across several Midwestern locations today. Basis bids continue to firm this fall amid sluggish farmer sales. Corn export inspections totaled 31.4 million bushels last week, falling moderately below the prior week’s total of 45.6 million bushels and on the low end of trade estimates, which ranged between 31 million and 47 million bushels. The low-range close sets the stage for a steady to lower opening when Tuesday's night sessions begins trading. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the reaction low crossing at 3.60 1/2 would confirm that a short-term top has been posted. If December resumes the rally off September's low, the 50% retracement level of the May-September-decline crossing at 3.85 3/4 is the next upside target. First resistance is October's high crossing at 3.78 1/2. Second resistance is the 50% retracement level of the May-September-decline crossing at 3.85 3/4. First support is the reaction low crossing at 3.60 1/4. Second support is reaction low crossing at 3.54 1/2.
December wheat closed down 8 3/4-cents at 4.98.
December wheat closed lower on Monday due to concerns over export and trade worries to start the week, with spillover weakness from soybeans applying additional downward pressure. Wheat export inspections reached 18.7 million bushels for the week ending November 15, which was moderately ahead of the prior week’s total of 12.7 million bushels and just above trade expectations, which ranged between 11 million and 18 million bushels. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off last-Tuesday's high, October's low crossing at 4.85 1/2 is the next downside target. If December renews the rally off October's low, October's high crossing at 5.27 is the next upside target. First resistance is October's high crossing at 5.27. Second resistance is the reaction high crossing at 5.49 1/2. First support is October's low crossing at 4.85 1/2. Second support is January's low crossing at 4.73 3/4.
December Kansas City Wheat closed down 8 1/2-cents at 4.74 1/4.
December Kansas City wheat closed lower on Monday as it extends the decline off August's high. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off October's high, weekly support crossing at 4.53 is the next downside target. Closes above the 50-day moving average crossing at 5.09 is the next upside target. First resistance is the 20-day moving average crossing at 4.94 1/4. Second resistance is the 50-day moving average crossing at 5.09. First support is today's low crossing at 4.70. Second support is weekly support crossing at 4.53.
December Minneapolis wheat closed up a 1/4-cent at 5.71 1/2.
December Minneapolis wheat closed fractionally higher on Monday.The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December renews the decline off October's high, September's low crossing at 5.60 1/4 is the next downside target. Closes above November's high crossing at 5.90 would confirm that a short-term low has been posted while opening the door for a possible test of October's high crossing at 6.02 1/4. First resistance is November's high crossing at 5.90. Second resistance is October's high crossing at 6.02 1/4. First support is October's low crossing at 5.65 3/4. Second support is September's low crossing at 5.60 1/4.
SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains "
January soybeans closed down 18 1/4-cents at 8.74.
January soybeans closed sharply lower on Monday as renewed pessimism over U.S.-China trade negotiations dominated the market. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 8.70 would confirm that a short-term top has been posted. If January resumes the rally off September's low, the 38% retracement level of the May-September-decline crossing at 9.15 3/4 is the next upside target. First resistance is the 38% retracement level of the May-September-decline crossing at 915 3/4. Second resistance is the 50% retracement level of the May-September-decline crossing at 9.44. First support is the 50-day moving average crossing at 8.70. Second support is October's low crossing at 8.44 1/2.
December soybean meal closed down $5.80 at 305.10.
December soybean meal closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below September's low crossing at 301.60 would confirm a downside breakout of the September-October trading range. Closes above the 50-day moving average crossing at 311.50 would confirm that a short-term low has been posted. First resistance is October's high crossing at 327.30. Second resistance is the 38% retracement level of the May-September-decline crossing at 336.20. First support is October's low crossing at 302.00. Second support is September's low crossing at 301.60.
December soybean oil closed down 4 pts. at 27.33.
December soybean oil closed lower on Monday as it extends the decline off October's low. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off October's high, September's low crossing at 27.13 is the next downside target. Closes above the 50-day moving average crossing at 28.48 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 27.97. Second resistance is the 50-day moving average crossing at 28.48. First support is today's low crossing at 27.26. Second support is September's low crossing at 27.13.
LIVESTOCKhttp://quotes.ino.com/exchanges/?c=livestock
December hogs closed up $0.95 at $61.03.
December hogs closed higher on Monday as it extended the rally off November's low. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off October's low, April's high crossing at 62.90 is the next upside target. Closes below the 50-day moving average crossing at 56.70 would temper the near-term friendly outlook. First resistance is today's high crossing at 61.43. Second resistance is April's high crossing at 62.90. First support is November's low crossing at 54.00. Second support is October's low crossing at 51.27.
December cattle closed up $0.80 at 116.15.
December cattle closed higher on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the reaction high crossing at 117.23 would confirm that a short-term low has been posted. If December resumes the decline off October's high, the 50% retracement level of the April-October-rally crossing at 113.34 is the next downside target. First resistance is the reaction high crossing at 118.80. Second resistance is October's high crossing at 119.75. First support is the 50% retracement level of the April-October-rally crossing at 113.34. Second support is the 62% retracement level of the April-October-rally crossing at 111.83.
January Feeder cattle closed up $0.75 at $147.28.
January Feeder cattle closed higher on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday's session begins trading. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 147.88 would confirm that a short-term low has been posted. If January renews the decline off October's high, the 75% retracement level of the May-August-rally crossing at 140.89 is the next downside target. First resistance is the 20-day moving average crossing at 147.88. Second resistance is November's high crossing at 151.25. First support is last-Tuesday's low crossing at 142.67. Second support is the 75% retracement level of the May-August-rally crossing at 140.89.
FOOD & FIBERhttp://quotes.ino.com/ex changes/?c=food
December coffee closed lower on Monday. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 11.51 would confirm that a short-term low has been posted. Closes below last-Tuesday's low crossing at 10.75 would open the door for additional weakness near-term.
December cocoa closed lower on Monday. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off November's high, the reaction low crossing at 21.13 is the next downside target. Closes above the 10-day moving average crossing at 22.36 would confirm that a short-term low has been posted.
March sugar closed slightly higher on Monday. The mid-range close set the stage for a steady opening on Tuesday. Stochastics and the RSI are oversold but are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 13.16 would confirm that a short-term low has been posted. If March extends the decline off October's high, the reaction low crossing at 11.91 is the next downside target.
December cotton closed lower on Monday. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December resumes decline off October's high, October's low crossing at 75.37 is the next downside target. Closes above the 50-day moving average crossing at 78.08 would confirm that a short-term low has been posted.
Thank you tallest pine at the forum!
As tallpine noted, ngz gapped higher on open last night..........huge gap higher(by 2,000/contract.
We sold off early this morning but did not fill the gap.
Fridays high was 4.390, the Sunday evening open was 4.570, low this morning was 4.427.
Very cold 12z models caused a spike high to 4.779 in the early afternoon Monday. We are currently just below last nights opening price.