KEY EVENTS TO WATCH FOR:

Tuesday, February 11, 2020 

6:00 AM ET. January NFIB Index of Small Business Optimism

                       Small Business Idx (previous 102.7)

7:45 AM ET. The Retail Economist/Goldman Sachs Weekly Chain Store Sales Index

                       Chain Store Sales, W/W% (previous +0.7%)

                       Chain Store Sales, M/M% (previous +3.1%)

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 +5.4%)

                       Latest Wk, Y/Y% (previous +5.7%)

10:00 AM ET. December Job Openings & Labor Turnover Survey

12:00 PM ET. World Agricultural Supply & Demand Estimates (WASDE)

                       Corn, End Stocks (Bushels)

                       Soybeans, End Stocks (Bushels)

                       Wheat, End Stocks (Bushels)

                       Cotton, End Stocks (Bales)

4:30 PM ET. API Weekly Statistical Bulletin

                       Crude Stocks, Net Chg (Bbls) (previous +4.2M)

                       Gasoline Stocks, Net Chg (Bbls) (previous +2.0M)

                       Distillate Stocks, Net Chg (Bbls) (previous -1.8M)

Wednesday, February 12, 2020 

7:00 AM ET. MBA Weekly Mortgage Applications Survey

                       Composite Idx (previous 682.0)

                       Composite Idx, W/W% (previous +5.0%)

                       Purchase Idx-SA (previous 283.8)

                       Purchase Idx-SA, W/W% (previous -9.5%)

                       Refinance Idx (previous 2975.7)

                       Refinance Idx, W/W% (previous -1.8%)

10:00 AM ET. January Online Help Wanted Index

10:30 AM ET. EIA Weekly Petroleum Status Report

                       Crude Oil Stocks (Bbl) (previous 435.009M)

                       Crude Oil Stocks, Net Chg (Bbl) (previous +3.355M)

                       Gasoline Stocks (Bbl) (previous 261.144M)

                       Gasoline Stocks, Net Chg (Bbl) (previous -0.091M)

                       Distillate Stocks (Bbl) (previous 143.235M)

                       Distillate Stocks, Net Chg (Bbl) (previous -1.512M)

                       Refinery Usage (previous 87.4%)

                       Total Prod Supplied (Bbl/day) (previous 20.835M)

                       Total Prod Supplied, Net Chg (Bbl/day) (previous +1.197M)

2:00 PM ET. SEC Closed Meeting

Thursday, February 13, 2020 

8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims

                       Jobless Claims (expected 210K; previous 202K)

                       Jobless Claims, Net Chg (previous -15K)

                       Continuing Claims (previous 1751000)

                       Continuing Claims, Net Chg (previous +48K)

8:30 AM ET. January CPI

                       CPI, M/M% (expected +0.2%; previous +0.2%)

                       Core CPI, M/M% (expected +0.2%; previous +0.1%)

                       Energy Idx, M/M% (previous +1.4%)

                       Food Idx, M/M% (previous +0.2%)

                       Real Avg Wkly Pay-Infla Adj, M/M% (previous -0.1%)

                       CPI, Y/Y% (expected +2.5%; previous +2.3%)

                       Core Annual, Y/Y% (previous +2.2%; previous +2.3%)

8:30 AM ET. January Real Earnings

8:30 AM ET. U.S. Weekly Export Sales

                       Corn (Metric Tons) (previous 1338.5K)

                       Soybeans (Metric Tons) (previous 707.8K)

                       Wheat (Metric Tons) (previous 338.6K)

9:45 AM ET. Bloomberg Consumer Comfort Index

10:00 AM ET. U.S. Senate Banking Committee hearing considers Federal Reserve Board nominees

10:30 AM ET. EIA Weekly Natural Gas Storage Report

                       Working Gas In Storage (Cbf) (previous 2609B)

                       Working Gas In Storage, Net Chg (Cbf) (previous -137B)

4:30 PM ET. Foreign Central Bank Holdings

4:30 PM ET. Money Stock Measures

4:30 PM ET. Federal Discount Window Borrowings

Friday, February 14, 2020 

8:30 AM ET. January Advance Monthly Sales for Retail & Food Services

                       Overall Sales-SA, M/M% (expected +0.3%; previous +0.3%)

                       Sales, Ex-Auto, M/M% (expected +0.3%; previous +0.7%)

                       Sales, Ex-Auto & Gas, M/M% (previous +0.5%)

8:30 AM ET. January Import & Export Price Indexes

                       Import Prices (expected -0.2%; previous +0.3%)

                       Non-Petroleum Prices (previous +0.2%)

                       Petroleum Prices (previous +2.1%)

9:15 AM ET. January Industrial Production & Capacity Utilization

                       Industrial Production, M/M% (expected -0.2%; previous -0.3%)

                       Capacity Utilization % (expected 76.8%; previous 77.0%)

                       Capacity Utilization, Net Chg (Pts) (previous -0.4)

10:00 AM ET. December Manufacturing & Trade: Inventories & Sales

                       Total Inventories (expected +0.1%; previous -0.2%)

10:00 AM ET. February University of Michigan Survey of Consumers – preliminary

                       Mid-Mo Sentiment (expected 99.2; previous 99.1)

                       Mid-Mo Expectations (previous 88.3)

                       Mid-Mo Current Idx (previous 115.8)

The STOCK INDEXES? http://quotes.ino.com/ex?changes/?c=indexes

The March NASDAQ 100 posted a key reversal up on Monday as investors were bolstered by mostly solid fourth-quarter corporate earnings and looked beyond concerns about the coronavirus outbreak’s potential disruption to supply chains.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 March extends the rally off last-October's low, upside targets will be hard to project. Closes below the 20-day moving average crossing at 9195.96 would confirm that a short-term top has been posted. First resistance is today's high crossing at 9485.25. Second resistance is unknown. First support is the . 20-day moving average crossing at 9195.96. Second support is the December 27th low crossing at 8925.50. Third support is the 50-day moving average crossing at 8856.81.   

The March S&P 500 posted a key reversal up and posted a new contract high 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off October's low into uncharted territory, upside targets will be hard to project. Closes below the 10-day moving average crossing at 3295.91 would confirm that a short-term top has been posted. First resistance is last-Thursday's high crossing at 3345.60. Second resistance is unknown. First support is the 10-day moving average crossing at 3295.91. Second support is January's low crossing at 3183.70.  

The Dow closed higher on Monday as it consolidated some of last-Friday'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 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. First resistance is last-Thursday's highcrossing at 29,408.05. Second resistance is unknown. First support is the 10-day moving average crossing at 28,874.20. Second support is January's low crossing at 28,169.53.

INTEREST RATES? http://quotes.ino.com/ex?changes/?c=interest ""

March T-bonds closed up 7/32's at 162-26.

March T-bonds closed higher on Monday as it extended the rally off last-Thursday'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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. If March resumes the rally off January's low, October's high crossing at 164-09 is the next upside target. Closes below the 20-day moving average crossing at 160-20 are needed to confirm a short-term top has been posted.First resistance is last-Monday's high crossing at 164-05. Second resistance is October's high crossing at 164-09. First support is the 20-day moving average crossing at 160-20. Second support is the 50-day moving average crossing at 158-22. 

March T-notes closed up 45 pts. at 131.070.

March T-notes closed higher on Monday as it extends the rebound off last-Thursday'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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. If March resumes the rally off December's low, October's high crossing at 132.025 is the next upside target. Closes below the 20-day moving average crossing at 130.096 are needed to confirm that a short-term top has been posted. First resistance is last-Monday's high crossing at 131.290. Second resistance is October's high crossing at 132.025. First support is the 20-day moving average crossing at 130.096. Second support is the 50-day moving average crossing at 129.136.        

ENERGY MARKETS? http://quotes.ino.com/ex?changes/?c=energy ""

March crude oil closed lower on Monday. The low-range close sets the stage for a steady to lower 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 March extends the decline off January's high, the December-2018 low crossing at 45.76 is the next downside target. Closes above the 20-day moving average crossing at 54.10 are needed to temper the near-term bearish outlook. First resistance is the 10-day moving average crossing at 51.32. Second resistance is the 20-day moving average crossing at 54.10. First support is last-Tuesday's low crossing at 49.52. Second support is the December-2018 low crossing at 45.76. 

March heating oil closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night trading session begins. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If March resumes this year's decline, the June 2017-low crossing at 156.49 is the next downside target. Closes above the 20-day moving average crossing at 173.72 would confirm that a short-term low has been posted.First resistance is last-Friday's high crossing at 167.77. Second resistance is the 20-day moving average crossing at 173.72. First support is last-Tuesday's low crossing at 156.84 Second support is the June 2017-low crossing at 156.49.

March unleaded gas closed slightly lower on Monday as it extends the trading range of the past three-weeks. The mid-range close sets the stage for a steady 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 20-day moving average crossing at 155.99 are needed to confirm that a short-term low has been posted. If March resumes the decline off January's high, August's low crossing at 142.08 is the next downside target. First resistance is today's high crossing at 155.34. Second resistance is the 20-day moving average crossing at 155.99. First support is last-Tuesday's low crossing at 143.45. Second support is August's low crossing at 142.08.

March Henry natural gas gapped down and closed lower on Monday as it renewed the decline off November'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 are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off November's high, weekly support crossing at 1.611 is the next downside target. Closes above the 20-day moving average crossing at 1.921 are needed to confirm that a short-term low has been posted. First resistance is today's gap crossing at 1.842. Second resistance is the 20-day moving average crossing at 1.921. First support is today's low crossing at 1.759. Second support is weekly support crossing at 1.611.         

CURRENCIES? http://quotes.ino.com/ex?changes/?c=currencies ""

The March Dollar closed higher for the sixth-day in a row on Monday and spiked above September's high crossing at 98.74. 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 March extends the rally off December's low, weekly resistance crossing at 99.31 is the next upside target. Multiple closes below the 20-day moving average crossing at 97.67 would confirm that a short-term top has been posted. First resistance is today's high crossing at 98.77. Second resistance is weekly resistance crossing at 99.31. First support is the 10-day moving average crossing at 97.99. Second support is the 20-day moving average crossing at 97.67.

The March Euro closed lower for the sixth-day in a row on Monday as it extends the decline off December'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 are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off December's high, monthly support crossing at 109.22 is the next downside target. Closes above the 20-day moving average crossing at 110.83 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 110.38. Second resistance is the 20-day moving average crossing at 110.83. First support is today's low crossing at 109.32. Second support is monthly supportcrossing at 109.22.

The March British Pound closed slightly 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off December's high, the November 22nd low crossing at 1.2870 is the next downside target. Closes above the 50-day moving average crossing at 1.3099 would confirm that a short-term low has been posted. First resistance is the January 31st high crossing at 1.3225. Second resistance is the December 31st high crossing at 1.3312. First support is today's low crossing at 1.2885. Second support is the November 22nd low crossing at 1.2870.

The March Swiss Franc closed slightly higher on Monday as it consolidates some of the decline off February's high. 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 March extends this month's decline, the 75% retracement level of the December-January-rally crossing at 1.0156, which coincides with the head-and-shoulders top downside projection of 1.0159 is the next downside target. Close above the 20-day moving average crossing at 1.0345 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1.0345. Second resistance is February's high crossing at 1.0418. First support isthe 50% retracement level of the December-January-rally crossing at 1.0252. Second support is the 62% retracement level of the December-January-rally crossing at 1.0207.

The March Canadian Dollar closed lower on Monday as it extends this year's decline. 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 March extends the decline off December's high, September's low crossing at 74.90 is the next downside target. Closes above the 20-day moving average crossing at 75.90 are needed to confirm that a short-term low has been posted.First resistance is the 10-day moving average crossing at 75.44. Second resistance is the 20-day moving average crossing at 75.90. First support is today's low crossing at 75.01. Second support is September's low crossing at 74.90. 

The March Japanese Yen posted an inside day with a steady close on Monday leaving last-Friday's key reversal up unconfirmed. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends last-week's decline, January's low crossing at 0.0909 is the next downside target. Closes above the 50-day moving average crossing at 0.0919 would temper the near-term bearish outlook. First resistance is last-Monday's high crossing at 0.0925. Second resistance is January's high crossing at 0.0932. First support is January's low crossing 0.0909. Second support is weekly support crossing at 0.0906.  

PRECIOUS METALS? http://quotes.ino.com/ex?changes/?c=metals ""

April gold closed higher on Monday as it extends last-week's rally.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 April resumes the rally off January's low, January's high crossing at $1619.60 is the next upside target. Closes below the January 14^th low crossing at $1542.80 are needed to renew the decline off January's high. If this support level is broken, the 50-day moving average crossing at $1530.40 is the next downside target. First resistance is January's high crossing at $1619.60. Second resistance is monthly resistance crossing at $1687.00. First support is the January 14^th low crossing at $1542.80. Second support is the 50-day moving average at $1532.50.

March silver closed slightly higher on Monday as it extends the trading range of the past five-weeks. The mid-range close set the stage for a steady to higher opening when Tuesday's night 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 reaction high crossing at 18.375 are needed to confirm that a low has been posted. If March renews the decline off January's high, the January 18^th low crossing at 16.935 is the next downside target. First resistance is January's high crossing at 18.895. Second resistance is the September 24th high crossing at 18.930. First support is January's low crossing at 17.280. Second support is the December 18^th low crossing at 16.935.

March copper closed slightly higher on Monday. The mid-range close sets the stage for a steady 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 March extends the rally off February's low, the 20-day moving average crossing at 267.03 is the next upside target. If March resumes this year's decline, the 75% retracement level of the 2016-2018-rally crossing at 234.31 is the next downside target. First resistance is the 20-day moving average crossing at 267.03. Second resistance is the 50-day moving average crossing at 273.22. First support is last-Monday's low crossing at 248.75. Second support is the 75% retracement level of the 2016-2018-rally crossing at 234.31.  

GRAINS? http://quotes.ino.com/ex?changes/?c=grains "

March Corn closed down $0.02-cents at 3.81 1/4. 

March corn closed lower on Monday while extending the December-February trading range. The mid-range close sets the stage for a steady to higher opening when Tuesday's night sessions begins trading. Stochastics and the RSI are poised to turn neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above January's high crossing at $3.94 are needed to confirm an upside trading range breakout while opening the door for a possible test of November's high crossing at $4.00. Closes below the reaction low crossing at $3.75 1/4 would open the door for a possible test of December's low crossing at $3.71. First resistance is January's high crossing at $3.94. Second resistance is November's high crossing at $4.00. First support is January's low crossing at $3.75 1/4. Second support is December's low crossing at $3.71.    

March wheat closed down $0.07 3/4-cents at $5.51.  

March wheat 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. If March extends the decline off January's high, the December 24^th low crossing at $5.38 1/2 is the next downside target. If March resumes the rally off September's low, the 87% retracement level of the 2018-2019-decline crossing at $6.13 3/4 is the next upside target. First resistance is the 75% retracement level of the 2018-2019-decline crossing at $5.92 1/4. Second resistance is the 87% retracement level of the 2018-2019-decline crossing at $6.13 3/4. First support is the 50-day moving average crossing at $5.51 1/2. Second support is the December 24^th low crossing at $5.38 1/2.      

March Kansas City Wheat closed unchanged at $4.72 1/2.

March Kansas City wheat closed unchanged on Monday. The mid-range close sets the stage for a steady opening when Tuesday night 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 $4.81 1/2 would confirm that a short-term low has been posted. Closes below last-Monday's low crossing at $4.58 1/2 would open the door for additional weakness near-term. First resistance is the 20-day moving average crossing at $4.81 1/2. Second resistance is January's high crossing at $5.04 3/4. First support is last-Monday's low crossing at $4.58 1/2. Second support is December's low crossing at 4.23 1/2.   

March Minneapolis wheat closed down $0.02-cents at $5.33 3/4. 

March Minneapolis wheat closed lower on Monday as it extends the trading range of the past seven-days. 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 March extends the decline off January's high, the 62% retracement level of the November-January-rally crossing at 5.29 1/2 is the next downside target. Closes above the 20-day moving average crossing at $5.44 3/4 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at $5.44 3/4. Second resistance is January's high crossing at $5.67 3/4. First support is the 62% retracement level of the November-January-rally crossing at 5.29 1/2. Second support is the 75% retracement level of the November-January-rally crossing at 5.21 1/4.      

SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains "

March soybeans closed up $0.03-cents at $8.85.

March soybeans closed higher on Monday as it consolidates some of the decline off January's high. 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at $9.01 1/4 are needed to confirm that a short-term low has been posted. If March resumes this year's decline, last-May's low crossing at $8.41 1/2 is the next downside target. First resistance is the 20-day moving average crossing at $9.01 1/4. Second resistance is the 50-day moving average crossing at 9.16 3/4. First support is February's low crossing at $8.68 3/4. Second support is last-May's low crossing at $8.41 1/2.    

March soybean meal closed up $2.60 at $291.90. 

March soybean meal closed higher on Monday as it consolidates some of the decline off October's high. The mid-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at $295.50 are needed to confirm that a short-term low has been posted. If March extends this year's decline, monthly support crossing at $283.10 is the next downside target. First resistance is the 20-day moving average crossing at $295.50. Second resistance is the 50-day moving average crossing at $299.50. First support is last-Thursday's low crossing at $286.40. Second support is monthly support crossing at $283.10.     

March soybean oil closed down 36-pts. at 30.61. 

March soybean oil 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 turned neutral to bearish signaling that sideways to lower prices are possible near-term. If March renews the decline off January's high, the 75% retracement level of the May-January low crossing at 29.54 is the next downside target. Closes above the 20-day moving average crossing at 31.90 are needed to confirm that a short-term top has been posted. First resistance is the 20-day moving average crossing at 31.90. Second resistance is the 50-day moving average crossing at 32.71. First support is last-Monday's low crossing at 29.81. Second support is the 75% retracement level of the May-January low crossing at 29.54.        

LIVESTOCKhttp://quotes.ino.com/exchanges/?c=livestock 

April hogs closed down $1.18 at $65.08. 

April hogs closed lower on Monday as it consolidates some of the rebound off February's low. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If April extends the rally off February's low, the January 30th gap crossing at 68.67 is the next upside target. If April extends the decline off January's high, weekly support crossing at $52.25 is the next downside target. First resistance is the January 30th gap crossing at $68.67. Second resistance is the 20-day moving average crossing at 69.48. First support is February's low crossing at $61.00. Second support is weekly support crossing at $52.25.   

April cattle closed down $1.13 at $118.68. 

April cattle closed lower on Monday as it extends the decline off December'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 April extends the aforementioned decline, the 62% retracement level of the September-December-2019 rally crossing at $116.71 is the next downside target. Closes above the 20-day moving average crossing at $122.99 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at $122.99. Second resistance is the 50-day moving average crossing at $125.23. First support is last-Thursday's low crossing at $118.35. Second support is the 62% retracement level of the September-December-2019 rally crossing at $116.71.   

March Feeder cattle closed up $0.50-cents at $135.70. 

March 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 are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If March resumes this year's decline, the 75% retracement level of the September-January-rally crossing at $131.45 is the next downside target. Closes above the 20-day moving average crossing at $139.42 would temper the near-term bearish outlook. First resistance is last-Wednesday's high crossing at $138.08. Second resistance is the 20-day moving average crossing at $139.42. First support is last-Monday's low crossing at $133.65. Second support is the 75% retracement level of the September-January-rally crossing at $131.45.       

FOOD & FIBERhttp://quotes.ino.com/ex changes/?c=food 

March coffee closed higher on Monday as it consolidates some of its recent losses. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off December's high, October's low crossing at 9.58 is the next downside target. Closes above the 20-day moving average crossing at 10.62 would confirm that a low has been posted.

March cocoa closed higher on Monday as it extends the rally off December's low. The mid-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. If March extends this winter's rally, weekly resistance crossing at 30.14 is the next upside target. Closes below the 20-day moving average crossing at 27.62 would confirm that a short-term top has been posted.            

March sugar closed higher on Monday. The high-range close set the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off October's low, last-January's high crossing at 16.25 is the next upside target. Closes below the 20-day moving average crossing at 14.58 are needed to confirm that a top has been posted.   

March cotton closed higher on Monday. The high-range close sets the stage for a steady to higher opening on Tuesday. 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 69.33 would confirm that a short-term low has been posted. If March renews the decline off January's  high, the December 18^th low crossing at 66.25 is the next downside target.