KEY EVENTS TO WATCH FOR:
Monday, April 6, 2020
8:30 AM ET. Annual Advance GDP by Industry
10:00 AM ET. March Employment Trends Index
ETI (previous 108.96)
ETI, Y/Y%
N/A World Strategic Forum commences
Tuesday, April 7, 2020
7:45 AM ET. The Retail Economist/Goldman Sachs Weekly Chain Store Sales Index
Chain Store Sales, W/W% (previous -10.3%)
Chain Store Sales, M/M% (previous -6.7%)
8:30 AM ET. 4th Quarter GDP by State
8:55 AM ET. Johnson Redbook Retail Sales Index
Ret Sales Mo-to-Date, M/M% (previous +1.3%)
Ret Sales Mo-to-Date, Y/Y% (previous +7.5%)
Latest Wk, Y/Y% (previous +6.3%)
10:00 AM ET. April IBD/TIPP Economic Optimism Index
Economic Optimism Idx (previous 53.9)
6-Mo Economic Outlook (previous 47.8)
10:00 AM ET. February Job Openings & Labor Turnover Survey
3:00 PM ET. February Consumer Credit
Consumer Credit Net Chg (USD) (previous +12.02B)
4:30 PM ET. API Weekly Statistical Bulletin
Crude Stocks, Net Chg (Bbls) (previous +10.5M)
Gasoline Stocks, Net Chg (Bbls)
Distillate Stocks, Net Chg (Bbls)
Wednesday, April 8, 2020
7:00 AM ET. MBA Weekly Mortgage Applications Survey
Composite Idx (previous 874.6)
Composite Idx, W/W% (previous -29.4%)
Purchase Idx-SA (previous 211.7)
Purchase Idx-SA, W/W% (previous -10.8%)
Refinance Idx (previous 4781.1)
Refinance Idx, W/W% (previous -33.8%)
10:00 AM ET. February Metropolitan Area Employment & Unemployment
10:30 AM ET. EIA Weekly Petroleum Status Report
Crude Oil Stocks (Bbl) (previous 469.193M)
Crude Oil Stocks, Net Chg (Bbl) (previous +13.833M)
Gasoline Stocks (Bbl) (previous 246.806M)
Gasoline Stocks, Net Chg (Bbl) (previous +7.524M)
Distillate Stocks (Bbl) (previous 122.248M)
Distillate Stocks, Net Chg (Bbl) (previous -2.194M)
Refinery Usage (previous 82.3%)
Total Prod Supplied (Bbl/day) (previous 17.847M)
Total Prod Supplied, Net Chg (Bbl/day) (previous -1.553M)
N/A IMF World Economic Outlook analytical chapters
Thursday, April 9, 2020
8:30 AM ET. U.S. Weekly Export Sales
Corn (Metric Tons) (previous 1095.7K)
Soybeans (Metric Tons) (previous 1071.4K)
Wheat (Metric Tons) (previous 258.8K)
8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims
Jobless Claims (previous 6.648M)
Jobless Claims, Net Chg (previous +3.341M)
Continuing Claims (previous 3029000)
Continuing Claims, Net Chg (previous +1245K)
8:30 AM ET. March PPI
PPI, M/M% (previous -0.6%)
Ex-Food & Energy PPI, M/M% (previous -0.3%)
Personal Consumption (previous -0.8%)
9:45 AM ET. Bloomberg Consumer Comfort Index
10:00 AM ET. February Monthly Wholesale Trade
Inventories, M/M% (previous -0.4%)
10:00 AM ET. April University of Michigan Survey of Consumers – preliminary
Mid-Mo Sentiment (previous 95.9)
Mid-Mo Expectations (previous 85.3)
Mid-Mo Current Idx (previous 112.5)
10:30 AM ET. EIA Weekly Natural Gas Storage Report
Working Gas In Storage (Cbf) (previous 1986B)
Working Gas In Storage, Net Chg (Cbf) (previous -19B)
(Cbf)
12:00 PM ET. March Monthly U.S. Retail Chain Store Sales Index
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. Money Stock Measures
4:30 PM ET. Federal Discount Window Borrowings
4:30 PM ET. Foreign Central Bank Holdings
Friday, April 10, 2020
8:30 AM ET. March CPI
CPI, M/M% (previous +0.1%)
Core CPI, M/M% (previous +0.2%)
Energy Idx, M/M% (previous -2.0%)
Food Idx, M/M% (previous +0.4%)
Real Avg Wkly Pay-Infla Adj, M/M% (previous +0.5%)
CPI, Y/Y% (previous +2.3%)
Core Annual, Y/Y% (previous +2.4%)
8:30 AM ET. March Real Earnings
N/A U.S. stock markets closed on Good Friday
N/A Marianas: Good Friday
The STOCK INDEXES? http://quotes.ino.com/ex?changes/?c=indexes
The Dow closed lower on Friday as it extends the trading range, which began on Wednesday. The low-range close that sets the stage for a steady to lower opening when Monday'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 Thursday's low crossing at 20,735.02 would open the door for additional weakness and a possible test of the March 23rd gap crossing at 19,121.01. Closes above last-Thursday's high crossing at 22,595.06 are needed to confirm that a short-term low has been posted. First resistance is last-Thursday's high crossing at 22,595.06. Second resistance is the March 12th gap crossing at 23,328.32. First support is Thursday's low crossing at 20,735.02. Second support is the March 23rd gap crossing at 19,121.01.
The June NASDAQ 100 closed lower on Friday. The mid-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 bearish signaling that sideways to lower prices are possible near-term. If June extends the decline off Tuesday's high, March's low crossing at 6628.75 is the next downside target. Closes above Tuesday's high crossing at 7995.00 are needed to confirm that a short-term low has been posted. First resistance is the 50% retracement level of the February-March-decline crossing at 8208.09. Second resistance is the 50-day moving average crossing at 8516.41. First support is last-Thursday's low crossing at 7310.25. Second support is March's low crossing at 6628.75.
The June S&P 500 closed lower on Friday. 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 neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above Tuesday's high crossing at 2634.60 would confirm that a short-term low has been posted. If March resumes the decline off February's high, the 50% retracement level of the 2009-2020-rally crossing at 2028.01 is the next downside target. First resistance is Tuesday's high crossing at 2634.60. Second resistance is the 50% retracement level of the February-March-decline crossing at 2780.02. First support is the 10-day moving average crossing at 2492.87. Second support is March's low crossing at 2174.90.
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June T-bonds closed up 18/32's at 182-03.
June T-bonds closed higher on Friday as it extends the rally off March's low.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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off March's low, March's high crossing at 191-22. Closes below the 20-day moving average crossing at 178-15 would signal that a short-term top has been posted. If June resumes the decline off March's high, the 50-day moving average crossing at 170-00 is the next downside target. First resistance is the reaction high crossing at 184-07. Second resistance is March's high crossing at 191-22. First support is the 20-day moving average crossing at 178-15. Second support is the 50-day moving average crossing at 170-00.
June T-notes closed up 40-pts. at 139.005.
June T-notes closed higher on Friday. 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 June extends the rally off March's low, March's high crossing at 140.240 is the next upside target. Closes below the 20-day moving average crossing at 137.175 would confirm that a short-term top has been posted. First resistance is Thursday's high crossing at 139.145. Second resistance is March's high crossing at 140.240. First support is the 20-day moving average crossing at 137.175. Second support is the 50-day moving average crossing at 134.094.
ENERGY MARKETS? http://quotes.ino.com/ex?changes/?c=energy ""
May crude oil closed higher on Friday and above the 20-day moving average crossing at $26.23 confirming that a short-term low has been posted. The high-range close sets the stage for a steady to higher opening when Monday's night session begins. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends today's rally, the 50-day moving average crossing at $40.84 is the next upside target. If May renews this year's decline, the October-1998 low on the monthly continuation chart crossing at $17.12 is the next downside target. First resistance is today's high crossing at $28.78. Second resistance is the 50-day moving average crossing at $40.84. First support is Monday's low crossing at $19.27. Second support is the October-1998 low on the monthly continuation chart crossing at $17.12.
May heating oil closed higher on Friday as it consolidated some of this year's decline. The high-range close sets the stage for a steady to higher opening when Monday's night trading session begins. Stochastics and the RSI are oversold, diverging but are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Multiple closes above the 20-day moving average crossing at $107.66 would signal that a short-term low has been posted. If May resumes this year's decline, the January 2016 low on the weekly continuation chart crossing at $84.87 is the next downside target. First resistance is the 20-day moving average crossing at $107.69. Second resistance is the March 9th gap crossing at $137.81. First support is Wednesday's low crossing at $93.03. Second support is weekly support crossing at $84.87.
May unleaded gas closed slightly higher on Friday. The mid-range close sets the stage for a steady to higher opening when Monday'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 73.48 are needed to confirm that a short-term low has been posted. If May resumes the decline off February's high, monthly support crossing at 32.40 is the next downside target. First resistance is the 20-day moving average crossing at 73.04. Second resistance is the reaction high crossing at 76.12. First support is March's low crossing at 46.05. Second support is monthly support crossing at 32.40.
May Henry natural gas closed higher on Friday as it consolidates some of this year's decline. The high-range close sets the stage for a steady to higher opening when Monday'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 May extends the decline below weekly support crossing at 1.611, it would open the door for additional weakness near-term. Closes above the 20-day moving average crossing at 1.739 would temper the near-term bearish outlook. First resistance is the 20-day moving average crossing at 1.739. Second resistance is the 50-day moving average crossing at 1.839. First support is Thursday's low crossing at 1.521. Second support is weekly support crossing at 1.500.
CURRENCIES? http://quotes.ino.com/ex?changes/?c=currencies ""
The June Dollar closed higher on Friday and above the 10-day moving average crossing at 100.26 signaling that a short-term low has been posted. The mid-range close sets the stage for a steady to higher 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 June extends the rally off last-Friday's low, March's high crossing at 103.96 is the next upside target. Closes below the 50-day moving average crossing at 98.61 would open the door for a larger-degree decline. First resistance is today's high crossing at 100.97. Second resistance is March's high crossing at 103.96. First support is the 50-day moving average crossing at 98.61. Second support is the 61% retracement level of March's rally crossing at 98.14.
The June Euro closed lower on Friday as it extends this week's decline. The mid-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends this week's decline, March's low crossing at 106.71 is the next downside target. Closes above the 50-day moving average crossing at 110.52 would confirms that a short-term low has been posted. First resistance is the March 27th high crossing at 111.88. Second resistance is the March 16th high crossing at 112.78. First support is today's low crossing at 107.96. Second support is March's low crossing at 106.71.
The June British Pound closed lower on Friday as it consolidates above the 20-day moving average crossing at 1.2243. The mid-range close sets the stage for a steady to lower 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. If June extends the rally off March's low, the 50-day moving average crossing at 1.2700 is the next upside target. Closes below the 10-day moving average crossing at 1.2190. First resistance is the 50% retracement level of the December-March-decline crossing at 1.2505. Second resistance is the 50-day moving average crossing at 1.2700. First support is the 10-day moving average crossing at 1.2190. Second support is March's low crossing at 1.1438.
The June Swiss Franc closed lower on Friday as it extended this week's decline. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends this week's decline, March's low crossing at 1.0138 is the next downside target. Closes above the 20-day moving average crossing at 1.0446 would confirm that a short-term low has been posted. First resistance is the March 30th high crossing at 1.0566. Second resistance is the March 16th high crossing at 1.0698. First support is today's low crossing at 1.0236. Second support is March's low crossing at 1.0138.
The June Canadian Dollar closed slightly higher on Friday.The mid-range close sets 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 last-Friday's high crossing at 71.89 would open the door for a larger-degree rally into early-April. If June renews the decline off January's high, the January-2016 low on the monthly continuation chart crossing at 68.09 is the next downside target. First resistance is last-Friday's high crossing at 71.89. Second resistance is the 50% retracement level of the January-March-decline crossing at 72.71. First support is March's low crossing at 68.20. Second support is the January-2016 low on the monthly continuation chart crossing at 68.09.
The June Japanese Yen closed lower on Friday as it extends this week's trading range. The mid-range close sets the stage for a steady to lower 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. If June extends the rally off March's low, long-term resistance crossing at 0.0942 is the next upside target. Closes below the 10-day moving average crossing at 0.0921 would confirm that a short-term top has been posted. First resistance is long-term resistance crossing at 0.0942. Second resistance is March's high crossing at 0.0992. First support is March's low crossing at 0.0900. Second support is February's low crossing 0.0897.
PRECIOUS METALS? http://quotes.ino.com/ex?changes/?c=metals ""
June gold closed higher on Friday as it consolidated some of the decline off March's high. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. If April renews the rally off March's low, March's high crossing at $1704.30. Closes below Wednesday's low crossing at $1576.00 are needed to confirm that a short-term top has been posted. First resistance is the March 25th high crossing at $1699.30. Second resistance is March's high crossing at $1704.30. First support is Wednesday's low crossing at $1576.00. Second support is March's low crossing at $1450.90.
May silver closed lower on Friday as it extends the trading range of the past two-weeks. The low-range close set the stage for a steady to lower 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. If May resumes the rally off March's low, the 50-day moving average crossing at 16.403 is the next upside target. If May resumes the decline off February's high, weekly support crossing at 8.400 is the next downside target. First resistance is the reaction high crossing at 14.980. Second resistance is the 50-day moving average crossing at 16.403. First support is Wednesday's low crossing at 13.895. Second support is March's low crossing at 11.640.
May copper closed lower on Friday as it extends the trading range of the past three-weeks. 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 neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 227.12 are needed to confirm that a short-term low has been posted. If May resumes this year's decline, the January-2016 low on the monthly continuation chart crossing at 193.55 is the next downside target. First resistance is Tuesday's high crossing at 224.80. Second resistance is the 20-day moving average crossing at 227.12. First support is March's low crossing at 197.25. Second support is theJanuary-2016 low on the monthly continuation chart crossing at 193.55.
GRAINS? http://quotes.ino.com/ex?changes/?c=grains "
July Corn closed down $0.02 1/4-cents at 3.36 1/4.
July corn closed lower on Friday as it extends this year's decline. The low-range close sets the stage for a steady to lower opening when Monday'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 July extends this year's decline, monthly support crossing at $3.29 3/4 is the next downside target. Closes above the 20-day moving average crossing at $3.54 1/4 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 3.47. Second resistance is the 20-day moving average crossing at $3.54 1/4. First support is today's low crossing at $3.34. Second support is monthly support crossing at $3.29 3/4.
July wheat closed up $0.08 1/4-cents at $5.47.
July wheat closed higher on Friday as it consolidated some of its losses of the previous two-days. The high-range close sets the stage for a steady to higher opening when Monday'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 $5.34 1/4 would confirm that a short-term top has been posted. If July resumes the rally off March's low, January's high crossing at $5.89 is the next upside target. First resistance is March's high crossing at $5.71 1/2. Second resistance is January's high crossing at $5.89. First support is the 20-day moving average crossing at $5.34 1/4. Second support is March's low crossing at $4.94 1/4.
July Kansas City Wheat closed up $0.07 1/4-cents at $4.78 1/2.
July Kansas City wheat posted an inside day with a higher close on Friday. The mid-range close sets the stage for a steady opening when Monday 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 $4.69 1/4 are needed to confirm that a short-term top has been posted. If July resumes the rally off March's low, January's high crossing at $5.19 is the next upside target. First resistance is March's high crossing at $5.09 1/4. Second resistance is January's high crossing at $5.19. First support is the 20-day moving average crossing at $4.69 1/4. Second support is the 62% retracement level of March's rally crossing at $4.58 1/2.
July Minneapolis wheat closed up $0.05 1/2-cents at $5.35 1/2.
July Minneapolis wheat closed higher on Friday as it consolidates some of this week's decline.The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Multiple closes below the 20-day moving average crossing at 5.32 would temper the near-term friendly outlook. If July renews the rally off March's low, February's high crossing at $5.58 3/4 is the next upside target. First resistance is February's high crossing at $5.58 3/4. Second resistance is January's high crossing at $5.82 1/2. First support is the 20-day moving average crossing at $5.32. Second support is March's low crossing at $5.13 1/2.
SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains "
July soybeans closed down $0.04 3/4-cents at $8.59 1/4.
July soybeans closed lower on Friday as it extends this week's decline.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 neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends this week's decline, March's low crossing at $8.29 is the next downside target. If July renews the rally off March's low, March's high crossing at $9.20 1/2 is the next upside target. First resistance is the 50-day moving average crossing at $8.93 1/4. Second resistance is March's high crossing at $9.20 1/2. First support is today's low crossing at $8.56 1/2. Second support is March's low crossing at $8.29.
July soybean meal closed down $4.30 at $303.50.
July soybean meal closed sharply lower on Friday as it extends the decline off March's high. 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends this week's decline, March's low crossing at $296.20 is the next downside target. Closes above the 10-day moving average crossing at $316.70 would confirm that a short-term top has been posted. First resistance is the 10-day moving average crossing at $316.70. Second is March's high crossing at $326.40. First support is today's low crossing at $301.20. Second support is March's low crossing at $296.20.
July soybean oil closed up 12-pts. At 26.71.
July soybean oil closed higher on Friday. The mid-range close sets the stage for a steady opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If May renews the decline off January's high, weekly support crossing at 20.70 is the next downside target. Closes above Monday's high crossing at 27.74 are needed to confirm that a short-term low has been posted. First resistance is Monday's high crossing at 27.74. Second resistance is the March 9th gap crossing at 28.89. First support is March's low crossing at 25.02. Second support is weekly support crossing at 20.70.
LIVESTOCKhttp://quotes.ino.com/exchanges/?c=livestock
June hogs closed down $4.50 at $48.32.
June hogs gapped lower and closed limit down on Friday as it extended the decline off March's high. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the aforementioned decline, weekly support crossing at $47.83 is the next downside target. Closes above the 20-day moving average crossing at $67.57 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at $62.73. Second resistance is the 20-day moving average crossing at $67.57. First support is today's low crossing at $48.32. Second support is weekly support crossing at $47.83.
June cattle closed down $2.23 at $80.85.
June cattle closed sharply lower on Friday as it extended the decline off last-Wednesday's high. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends this year's decline, monthly support crossing at $69.29 is the next downside target. Closes above the 20-day moving average crossing at $90.94 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at $90.94. Second resistance is the March 25th high crossing at $99.78. First support is today's low crossing at $78.83. Second support is monthly support crossing at $69.29.
May Feeder cattle closed down $3.55-cents at $108.10.
May Feeder cattle closed sharply lower on Friday as it extends this year's decline. The low-range close sets the stage for a steady to lower opening when Monday's session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends the aforementioned decline, monthly support crossing at $95.50 is the next downside target. Closes above the 10-day moving average crossing at $120.96 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $120.96. Second resistance is the 50-day moving average crossing at $131.20. First support is today's low crossing at $106.15. Second support is monthly support crossing at $95.50.
FOOD & FIBERhttp://quotes.ino.com/ex changes/?c=food
May coffee closed lower on Monday as it extends this week's trading range. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Multiple closes below the 20-day moving average crossing at 11.51 would renew the decline off March's high. Closes above the 10-day moving average crossing at 12.03 would temper the near-term bearish outlook.
May cocoa closed lower on Friday as it extended the trading range of the past three-weeks. The low-range close sets the stage for a steady to lower opening on Monday. 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 23.30 are needed to confirm that a short-term low has been posted. If May renews the decline off February's high, the October-2018 low crossing at 21.10 is the next downside target.
May sugar closed slightly higher on Friday. The low-range close set the stage for a steady to lower opening on Monday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends the decline off February's high, monthly support crossing at 9.91 is the next downside target. Closes above the 20-day moving average crossing at 11.14 are needed to temper the near-term bearish outlook.
May cotton closed higher on Friday as it extend this week's trading range. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends the decline off January's high, monthly support crossing at 36.70 is the next downside target. Closes above the 20-day moving average crossing at 56.01 are needed to confirm that a low has been posted.
Thanks tallpine!
Very chilly for April weather coming up. Bullish for ng but it really late in the year for the market to be driven by HDD's. It can be a huge factor to assist in any additional bullish interpretation(less bearish) of the fundamentals. If the stock market or crude is up alot.
Early corn planting needs a lot of dry and warm. Going to get the dry but soils will not be warming up. But theres still tons of time.