KEY EVENTS TO WATCH FOR:
Thursday, November 28, 2019
N/A Marianas: Thanksgiving Day
N/A U.S: Thanksgiving Day. Financial markets closed
Friday, November 29, 2019
8:30 AM ET. U.S. Weekly Export Sales
Corn (Metric Tons) (previous 833.9K)
Soybeans (Metric Tons) (previous 1516.7K)
Wheat (Metric Tons) (previous 437.7K)
1:00 PM ET. U.S. financial markets close early after Thanksgiving
4:30 PM ET. Money Stock Measures
4:30 PM ET. Foreign Central Bank Holdings
4:30 PM ET. Federal Discount Window Borrowings
The STOCK INDEXES? http://quotes.ino.com/ex?changes/?c=indexes ""
The December NASDAQ 100 closed higher on Wednesday as it extends this year's rally into uncharted territory.The high-range close sets the stage for a steady to higher opening when Friday'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 October's low into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 8275.71 would confirm that a short-term top has been posted. First resistance is today's high crossing at 8446.50. Second resistance is unknown. First support is the 20-day moving average crossing at 8275.71. Second support is the 50-day moving average crossing at 8018.92.
The December S&P 500 closed slightly higher on Wednesday as it extends this year's rally. The high-range close sets the stage for a steady to higher opening when Friday'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 October's low, upside targets will be hard to project. Closes below the 20-day moving average crossing at 3098.95 would confirm that a short-term top has been posted. First resistance is today's high crossing at 3150.50. Second resistance is unknown. First support is the 20-day moving average crossing at 3098.95. Second support is the 50-day moving average crossing at 3026.16.
The Dow closed higher on Wednesday as it extends this year's rally into record territory. The high-range close sets the stage for a steady to higher opening when Friday'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 the Dow extends this year's rally into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 27,746.69 are needed to confirm that a short-term top has been posted. First resistance is today's high crossing at 28,174.97. Second resistance is unknown. First support is the 20-day moving average crossing at 27,746.69. Second support is the 50-day moving average crossing at 27,164.41.
INTEREST RATES? http://quotes.ino.com/ex?changes/?c=interest ""
December T-bonds closed down 16/32's at 160-03.
December T-bonds posted an inside day with a lower close on Wednesday. The low-range close sets the stage for a steady to lower opening when Friday'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, November's high crossing at 161-22 is the next upside target. Closes below the 20-day moving average crossing at 160-24 would confirm that a short-term top has been posted. First resistance is November's high crossing at 161-22. Second resistance is October's high crossing at 165-07. First support is the 50% retracement level of the April-August-rally crossing at 155-25. Second support is the 62% retracement level of the April-August-rally crossing at 153-06.
December T-notes closed down 110 pts. at 129.105.
December T-notes closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Wednesday'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 reaction low crossing at 128.310 would confirm that a short-term top has been posted. Closes above the 50-day moving average crossing at 129.273 would open the door for additional gains near-term. First resistance is the 50-day moving average crossing at 129.273. Second resistance is November's high crossing at 130.155. First support is November's low crossing at 127.315. Second support is the 50% retracement level of the April-August-rally crossing at 127.171.
ENERGY MARKETS? http://quotes.ino.com/ex?changes/?c=energy ""
January crude oil closed lower on Wednesday. The mid-range close sets the stage for a steady to lower opening when Friday's night session begins. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If January extends the rally off October's low, the 87% retracement level of the September-October-decline crossing at 60.07 is the next upside target. Closes below last-Wednesday's low crossing at 54.85 would confirm that a short-term top has been posted. First resistance is the 75% retracement level of the September-October-decline crossing at 58.77. Second resistance is the 87% retracement level of the September-October-decline crossing at 60.07. First support is last-Wednesday's low crossing at 54.85. Second support is the reaction low crossing at 53.84.
January heating oil closed lower on Wednesday as they extend the October-November trading range. The low-range close sets the stage for a steady to lower opening when Friday's night trading session begins. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above October's high crossing at 197.02 would confirm an upside breakout of the October-November trading range. Closes below last-Wednesday's low crossing at 184.41 would confirm a downside breakout of the aforementioned trading range. First resistance is October's high crossing at 197.02. Second resistance is the September 19th high crossing at 200.20. First support is last-Wednesday's low crossing at 184.41. Second support is October's low crossing at 180.42.
January unleaded gas closed lower on Wednesday as it consolidates some of the rally off October's low. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If January extends the rally off October's low, May's high crossing at 173.52 is the next upside target. Closes below the 50-day moving average crossing at 158.71 would confirm that a short-term top has been posted. First resistance is last-Friday's high crossing at 170.36. Second resistance is May's high crossing at 173.52. First support is the 50-day moving average crossing at 158.71. Second support is the reaction low crossing at 155.64.
January Henry natural gas closed lower on Wednesday as it extends this month's decline. The low-range close sets the stage for a steady to lower opening when Friday'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. Closes above the 20-day moving average crossing at 2.719 are needed to confirm that a short-term low has been posted. If January extends this month's decline, August's low crossing at 2.475 is the next downside target.First resistance is the 20-day moving average crossing at 2.719. Second resistance is the November 8th gap crossing at 2.839. First support is today's low crossing at 2.488. Second support is August's low crossing at 2.475.
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The December Dollar closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Friday'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 October's low, the October 8th high crossing at 98.96 is the next upside target. Closes below last-Monday's low crossing at 97.55 would confirm that a short-term top has been posted. First resistance is today's high crossing at 98.37. Second resistance is the October 8th high crossing at 98.96. First support is last-Monday's low crossing at 97.55. Second support is October's low crossing at 96.88.
The December Euro closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Friday'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 reaction low crossing at 109.93 is the next downside target. Closes above the 20-day moving average crossing at 110.77 would confirm that a short-term low has been posted. First resistance is October's high crossing at 112.22. Second resistance is the 50% retracement level of the June-September-decline crossing at 112.48. First support is the reaction low crossing at 109.93. Second support is October's low crossing at 109.38.
The December British Pound closed higher on Wednesday while extending the trading range of the past six-weeks. The high-range close sets the stage for a steady to higher opening when Friday'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 September's low, the 75% retracement level of the February-September decline crossing at 1.3161 is the next upside target. Closes below November's low crossing at 1.2782 would confirm that a short-term top has been posted. First resistance is the 62% retracement level of the February-September decline crossing at 1.2958. Second resistance is the 75% retracement level of the February-September decline crossing at 1.3161. First support is the 50-day moving average crossing at 1.2723. Second support is October's low crossing at 1.2224.
The December Swiss Franc closed lower on Wednesday as it extends the decline off August's high.The low-range close sets the stage for a steady to lower opening when Friday'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, May's low crossing at 1.0000 is the next downside target. Close above the 50-day moving average crossing at 1.0113 are needed to confirm that a low has been posted. First resistance is the November 18th high crossing at 1.0154. Second resistance is November's high crossing at 1.0182. First support is today's low crossing at 1.0011. Second support is May's low crossing at 1.0000.
The December Canadian Dollar closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that a low might be in or is near. Closes above the 50-day moving average crossing at 75.69 are needed to confirm that a short-term low has been posted. If December extends the decline off October's high, October's low crossing at 74.96 is the next downside target. First resistance is the 50-day moving average crossing at 75.69. Second resistance is the November 19th high crossing at 75.82. First support is last-Wednesday's low crossing at 75.03. Second support is October's low crossing at 74.97.
The December Japanese Yen closed sharply lower on Wednesday as it renewed its decline off August's high. The low-range close sets the stage for a steady to lower opening when Friday’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 resumes the decline off August's high, April's low crossing at 0.0907 is the next downside target. Closes above the 50-day moving average crossing at 0.0926 would confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 0.0926. Second resistance is October's high crossing at 0.0945. First support is today's low crossing 0.0913. Second support is April's low crossing at 0.0907.
PRECIOUS METALS? http://quotes.ino.com/ex?changes/?c=metals ""
December gold closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Friday'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 September's high, the 50% retracement level of the May-September-rally at 1426.60 is the next downside target. Closes above the 50-day moving average crossing at 1490.90 would confirm that a short-term low has been posted. First resistance November's high crossing at 1519.00. Second resistance is the September 24th high crossing at 1543.30. First support is the 38% retracement level of the May-September-rally at 1459.80. Second support is the 50% retracement level of the May-September-rally at 1426.60.
December silver closed lower on Wednesday. The low-range close set the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that a low might be in or is near. Closes above the 50-day moving average crossing at 17.510 are needed to temper the bearish outlook. If December resumes the decline off the September 24th high, the 62% retracement level of the May-September-rally crossing at 16.547 is the next downside target. First resistance is the reaction high crossing at 18.350. Second resistance is the September 24th high crossing at 18.810. First support is the 62% retracement level of the May-September-rally crossing at 16.547. Second support is the 75% retracement level of the May-September-rally crossing at 15.859.
December copper closed slightly lower on Wednesday. The mid-range close sets the stage for a steady to higher opening when Friday'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 this week's rally, November's high crossing at 273.00 is the next upside target. Closes below the 50-day moving average crossing at 263.06 would temper the near-term bullish outlook. Closes below the reaction low crossing at 261.30 would confirm that a short-term top has been posted. First resistance is November's high crossing at 273.00. Second resistance is July's high crossing at 280.50. First support is the reaction low crossing at 261.30. Second support is the reaction low crossing at 257.30.
GRAINS? http://quotes.ino.com/ex?changes/?c=grains "
March Corn closed down 4 3/4-cents at 3.73 1/2.
March corn closed lower on Wednesday as it extends the decline off October's high. The low-range close sets the stage for a steady to lower opening when Friday's night sessions begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off October's low, September's low crossing at 3.65 3/4 is the next downside target. Closes above the 50-day moving average crossing at 3.91 3/4 would temper the near-term bearish outlook. First resistance is the 20-day moving average crossing at 3.83 3/4. Second resistance is the 50-day moving average crossing at 3.91 3/4. First support is today's low crossing at 3.73. Second support is September's low crossing at 3.65 3/4.
March wheat closed down 4 3/4-cents at 5.26 1/4.
March wheat closed lower on Wednesday as it consolidates some of this week's rally. The low-range close sets the stage for a steady to lower opening when Friday'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 March extends the rally off September's low, the 75% retracement level of the June-September-decline crossing at 5.44 1/4 is the next upside target. Closes below last-Monday's low crossing at 4.98 1/2 would confirm that a short-term top has been posted. First resistance is the 75% retracement level of the June-September-decline crossing at 5.44 1/4. Second resistance is the 87% retracement level of the June-September-decline crossing at 5.58 1/4. First support is last-Monday's low crossing at 4.98 1/2. Second support is the reaction low crossing at 4.84 1/4.
March Kansas City Wheat closed down 4-cents at 4.37 1/2.
March Kansas City wheat closed lower on Wednesday while extending the August-November trading range. The low-range close sets the stage for a steady to lower opening when Friday night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off September's low, the 38% retracement level of the June-September-decline crossing at 4.53 1/4 is the next upside target. Closes below last-Monday's low crossing at 4.23 would confirm that a short-term top has been posted. First resistance is the 38% retracement level of the June-September-declinecrossing at 4.53 1/4. Second resistance is the 50% retracement level of the June-September-decline crossing at 4.70 3/4. First support is last-Monday's low crossing at 4.23. Second support is October's low crossing at 4.13 1/2.
March Minneapolis wheat closed down 3 1/2-cents at 5.08 1/2.
March Minneapolis wheat closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Friday'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 March extends this decline off October's high, September's low crossing at 5.00 1/4 is the next downside target. Closes above the 20-day moving average crossing at 5.26 1/4 would confirm that a low has been posted. First resistance is the 10-day moving average crossing at 5.14 3/4. Second resistance is the 20-day moving average crossing at 5.26 1/4. First support is Monday's low crossing at 5.06. Second support is September's low crossing at 5.00 1/4.
SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains "
January soybeans closed down 2 1/4-cents at 8.82.
January soybeans closed lower on Wednesday as it extended the decline off October's high. The low-range close sets the stage for a steady to lower opening when Friday'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 January extends the decline off October's high, the 87% retracement level of the September-October-rally crossing at 8.76 3/4 is the next downside target. Closes above the 20-day moving average crossing at 9.15 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 9.15. Second resistance is November's high crossing at 9.42 1/4. First support is the 87% retracement level of the September-October-rally crossing at 8.76 3/4. Second support is September's low crossing at 8.65.
December soybean meal closed down $1.00 at 293.70.
December soybean meal closed lower on Wednesday as it extends the decline off October's high. The low-range close sets the stage for a steady to lower opening when Friday'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 294.30 is the next downside target. Closes above the 50-day moving average crossing at 302.90 would confirm that a short-term low has been posted. First resistance is the 50% retracement level of the June-September decline crossing at 314.00. Second resistance is the 62% retracement level of the June-September decline crossing at 319.20. First support is today's low crossing at 293.60. Second support is the September 27th low crossing at 294.30.
December soybean oil closed up 8-pts. at 30.30.
December soybean oil closed higher on Wednesday. The mid-range close sets the stage for a steady to higher opening when Friday'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 November's high, the reaction low crossing at 29.55 is the next downside target. Closes above last-Wednesday's high crossing at 31.39 would temper the near-term bearish outlook. First resistance is November's high high crossing at 31.96. Second resistance is February's high crossing at 32.06. First support is Tuesday's low crossing at 30.12. Second support is the reaction low crossing at 29.55.
LIVESTOCKhttp://quotes.ino.com/exchanges/?c=livestock
December hogs closed down $0.15 at $60.68.
December hogs closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Friday'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 57.75 is the next downside target. Multiple close above the 20-day moving average crossing at 63.12 would temper the near-term bearish outlook. First resistance is the 20-day moving average crossing at 63.12. Second resistance is the 50-day moving average crossing at 60.08. First support is last-Wednesday's low crossing at 60.05. Second support September's low crossing at 57.75.
December cattle closed up $1.03 at 121.43.
December cattle closed higher on Wednesday as it extends the rally off September's low. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December extended the rally off September's low, March's high crossing at 124.18 is the next upside target. Closes below the reaction low crossing at 117.35 would confirm that a short-term top has been posted. First resistance is today's high crossing at 121.85. Second resistance is March's high crossing at 124.18. First support is the reaction low crossing at 117.35. Second support is the 50-day moving average crossing at 114.86.
January Feeder cattle closed up $1.70-cents at $143.33.
January Feeder cattle closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Friday's session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 144.27 would confirm that a short-term low has been posted. If January extends the decline off November's high, October's low crossing at 136.10 is the next downside target. First resistance is the 62% retracement level of the April-August-decline crossing at 146.85. Second resistance isthe 75% retracement level of the April-August-decline crossing at 151.31.First support is last-Friday's low crossing at 138.27. Second support is October's low crossing at 136.10.
FOOD & FIBERhttp://quotes.ino.com/ex changes/?c=food
December coffee closed higher on Wednesday as it extends the rally off October's low. The mid-range close sets the stage for a steady to higher opening on Friday. 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 October's low, July's high crossing at 11.94 is the next upside target. Closes below the 20-day moving average crossing at 10.87 would confirm that a short-term top has been posted.
December cocoa closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening on Friday. 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 26.04 would confirm that a short-term top has been posted. If December renews the rally off August's low, the May 2018 high crossing at 28.33 is the next upside target.
March sugar closed higher on Wednesday. The high-range close set the stage for a steady to higher opening on Friday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off October's low, the July 30th high crossing at 13.25 is the next upside target. Closes below 50-day moving average crossing at 12.53 would confirm that a top has been posted.
December cotton closed lower on Wednesday. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are neutral to bullish with additional gains near-term. Closes above the 20-day moving average crossing at 67.88 are needed to confirm that a short-term low has been posted. If December extends the decline off October's high, the September 27th low crossing at 59.58 is the next downside target.