KEY EVENTS TO WATCH FOR:

Monday, April 27, 2020  

10:30 AM ET. April Texas Manufacturing Outlook Survey

                       Business Activity (previous -70.0)

                       Mfg Production Idx (previous -35.3)

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

The Dow closed higher on Friday as it extended the rally off Tuesday's low. The high-range close that sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. If the Dow extends the rally off March's low, the 62% retracement level of the February-March-decline crossing at 25,199.76 is the next upside target. Closes below the 20-day moving average crossing at 22,888.59 would confirm that a short-term top has been posted. First resistance is the 50-day moving average crossing at 23,974.04. Second resistance is the 62% retracement level of the February-March-decline crossing at 25,199.76. First support is the 20-day moving average crossing at 22,888.41. Second support is April's low crossing at 20,735.02.  

The June NASDAQ 100 closed higher on Friday. 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off March's low, the 75% retracement level of the February-March-decline crossing at 9003.03 is the next upside target. Closes below the 20-day moving average crossing at 8233.36 would signal that a short-term top has been posted. First resistance is the 75% retracement level of the February-March-decline crossing at 9003.03. Second resistance is the 87% retracement level of the January-March-decline crossing at 9384.61. First support is the 50-day moving average crossing at 8289.79. Second support is the 20-day moving average crossing at 8233.36.  

The June S&P 500 closed higher on Friday. 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off March's low, the 62% retracement level of the February-March-decline crossing at 2921.04 is the next upside target. Closes below the 20-day moving average crossing at 2697.45 would confirm that a short-term top has been posted. First resistance is the 62% retracement level of the February-March-decline crossing at 2921.04. Second resistance is the 75% retracement level of the February-March-decline crossing at 3085.85. First support is the 20-day moving average crossing at 2697.45. Second support is April's low crossing at 2448.00.

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June T-bonds closed up 21/32's at 182-02.  

June T-bonds closed higher on Friday.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 bullish signaling that sideways to higher prices are possible near-term. If June renews the rally off March's low, March's high crossing at 191-22. First resistance is Wednesday's high crossing at 183-02. Closes below the April 14^th low crossing at 177-14 would confirm that a short-term top has been posted while opening the door for a possible test of the 50-day moving average crossing at 175-11 is the next downside target. First resistance is Wednesday's high crossing at 183-02. Second resistance is March's high crossing at 191-22. First support is the April 14^th low crossing at 177-14. Second support is the 50-day moving average crossing at 175-11.  

June T-notes closed up 30-pts. at 139.035.

June T-notes closed slightly higher on Friday. 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 April 7^th low crossing at 137.160 would confirm that a short-term top has been posted. If June extends the rally off March's low, March's high crossing at 140.240 is the next upside target. First resistance is Tuesday's high crossing at 139.220. Second resistance is March's high crossing at 140.240. First support is the April 7^th low crossing at 137.160. Second support is the 50-day moving average crossing at 136.164.        

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

June crude oil 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. 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 $24.70 would confirm that a short-term low has been posted. If June 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 the 20-day moving average crossing at $24.70. Second resistance is the 50-day moving average crossing at $33.87. First support is Tuesday's low crossing at $6.50. Second support is zero.  

June heating oil closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday'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 June extends this year's decline, the October 2001 low on the monthly continuation chart crossing at $49.30 is the next downside target. Closes above the 20-day moving average crossing at $97.58 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at $97.58. Second resistance is the reaction high crossing at $116.02. First support is Wednesday's low crossing at $70.84. Second support is the October 2001 low on the monthly continuation chart crossing at $49.30.

June unleaded gas closed higher on Friday. 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 turning neutral to bullish signaling that a short-term top might be in or is near. Closes above the reaction high crossing at 82.72 would confirm that a short-term low has been posted. Closes below March's low crossing at 51.89 would renew this year's decline. First resistance is the 25% retracement level of the January-March-decline crossing at 88.30. Second resistance is the 38% retracement level of the January-March-decline decline crossing at 107.64. First support is March's low crossing at 51.89. Second support is monthly supportcrossing at 32.40.

June Henry natural gas 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 turning neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the decline off Wednesday's high, the April 14^th low crossing at 1.705 is the next downside target. If June renews the rally off April's low, the 50% retracement level of the 2019-2020 decline crossing at 2.154 is the next upside target. First resistance is Wednesday's high crossing at 2.100. Second resistance is the 50% retracement level of the 2019-2020 decline crossing at 2.154. First support is the April 14^th low crossing at 1.705. Second support is April's low crossing at 1.649.          

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The June Dollar 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 a low might be in or is near. If June extends this week's rally March's high crossing at 103.96. Closes below the 50-day moving average crossing at 99.26 would confirm that a short-term top has been posted. First resistance is the April 6th high crossing at 101.03. Second resistance is March's high crossing at 103.96. First support is the March  27^thlow crossing at 98.34. Second support is the 62% retracement level of March's rally crossing at 98.14. 

The June Euro closed higher on Friday. 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 the decline off the March 27^th high, March's low crossing at 106.71 is the next downside target. Closes above the 50-day moving average crossing at 109.95 would confirm that a short-term low has been posted. First resistance is the March 27^th high crossing at 111.88. Second resistance is the March 16^th high crossing at 112.78. First support is today's low crossing at 107.39. Second support is March's low crossing at 106.71. 

The June British Pound closed higher on Friday. 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 1.2522 would confirm that a short-term low has been posted. If June extends the decline off the April-14^th high crossing at 1.2653, the April 7^th low crossing at 1.2174 is the next downside target. First resistance is the 62% retracement level of the December-March-decline crossing at 1.2758. Second resistance is the 75% retracement level of the December-March-decline crossing at 1.3042. First support is the April 7^th low crossing at 1.2174. Second support is March's low crossing at 1.1438. 

The June Swiss Franc closed higher on Friday.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 the decline off the March 30^th high, March's low crossing at 1.0138 is the next downside target. Closes above the 50-day moving average crossing at 1.0397 would confirm that a short-term low has been posted. First resistance April's high crossing at 1.0443. Second resistance is the March 30^th high crossing at 1.0566.  First support is today's low crossing at 1.0216. Second support is March's low crossing at 1.0138.

The June Canadian Dollar 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 turning neutral to bullish signaling that sideways to lower prices are possible near-term. Closes below Tuesday's low crossing at 70.12 would confirm that a short-term top has been posted. If June renews the rally off March's low, the 50% retracement level of the January-March-decline crossing at 72.73 is the next upside target.First resistance is the 50-day moving average crossing at 72.31. Second resistance is the 50% retracement level of the January-March-decline crossing at 72.73. First support is the March 31^st low crossing at 69.73. Second support is March's low crossing at 68.20. 

The June Japanese Yen closed higher on Friday. 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 turning 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 April's low crossing at 0.0916 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 April's low crossing at 0.0916. Second support is March's low crossing at 0.0900.  

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June gold 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. If April renews the rally off March's low, the October-2012 high on the monthly continuation chart crossing at $1798.10 is the next upside target. Closes below Tuesday's low crossing at $1666.20 would confirm that a short-term top has been posted. First resistance is last-Tuesday's high crossing at $1788.80. Second resistance is the October-2012 high on the monthly continuation chart crossing at $1798.10. First support is Tuesday's low crossing at $1666.20. Second support is the 50-day moving average crossing at $1643.40.

July silver closed slightly lower on Friday. The mid-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 bearish signaling that sideways to lower prices are possible near-term. Closes below Tuesday's low crossing at 14.715 would confirm that a short-term top has been posted. If July resumes the rally off March's low, the 75% retracement level of the February-March-decline crossing at 17.237 is the next upside target.First resistance is the 62% retracement level of the February-March-decline crossing at 16.252. Second resistance is the 75% retracement level of the February-March-decline decline crossing at 17.237 is the next upside target. First support is Tuesday's low crossing at 14.715. Second support is the April 1^st low crossing at 13.935.  

July copper closed higher on Friday. 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 bullish signaling that sideways to higher prices are possible near-term. If July extends the rally off March's low, the 50-day moving average crossing at 238.42 is the next upside target. Closes below Tuesday's low crossing at 221.70 would confirm that a short-term top has been posted. First resistance is Monday's high crossing at 237.00. Second resistance is the 50-day moving average crossing at 238.42. First support is Tuesday's low crossing at 221.70. Second support is March's low crossing at 197.95. 

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July Corn closed down $0.02 1/2-cents at 3.23 1/2. 

July corn closed lower on Friday following a two-day rebound off Tuesday's low. The mid-range close sets the stage for a steady to lower opening when Monday's night sessions 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 $3.33 1/2 are needed to confirm that a short-term low has been posted. If July renews this year's decline, psychological support crossing at $3.00 is the next downside target. First resistance is the 10-day moving average crossing at 3.26 1/2. Second resistance is the 20-day moving average crossing at $3.33 1/2. First support is Tuesday's low crossing at $3.09. Second support is psychological support crossing at $3.00.    

July wheat closed down $0.12 1/4-cents at $5.32 1/2.  

July wheat 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 turning neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends this today's decline the 62% retracement level of March's rally crossing at $5.23 3/4 is the next downside target. Closes above the 20-day moving average crossing at $5.47 1/4 would confirm that a short-term low has been posted. First resistance is April's high crossing at $5.64 1/2. Second resistance is March's high crossing at $5.71 1/2. First support is last-Friday's low crossing at $5.25. Second support is the 62% retracement level of March's rally crossing at $5.23 3/4.      

July Kansas City Wheat closed down $0.10-cents at $4.83 1/4.

July Kansas City wheat closed lower on Friday. The low-range close sets the stage for a steady to lower 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 50-day moving average crossing at $4.75 3/4 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 50-day moving average crossing at $4.75 3/4. Second support is April's low crossing at $4.67 3/4.    

July Minneapolis wheat closed down $0.06 1/2-cents at $5.13 1/4. 

July Minneapolis wheat 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 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 July extends this year's decline, weekly support crossing at $4.88 is the next downside target. If July closes above the 50-day moving average crossing at $5.34 are needed to temper the near-term bearish outlook. First resistance is the 50-day moving average crossing at $5.34. Second resistance is April's high crossing at 5.48 1/4. First support is today's low crossing at $5.11 1/4. Second support is weekly support crossing at $4.88.       

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July soybeans closed down $0.09 1/4-cents at $8.37 1/2.

July soybeans closed lower on Friday ending a three-day bounce off Tuesday'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 neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at $8.76 1/4 are needed to confirm that a short-term low has been posted. If July extends this year's decline, weekly support crossing at $7.91 is the next downside target. First resistance is the 20-day moving average crossing at $8.58 1/2. Second resistance is the 50-day moving average crossing at $8.76 1/4. First support is Tuesday's low crossing at $8.18 1/2. Second support is weekly support crossing at $7.91.      

July soybean meal closed down $1.40 at $291.70. 

July soybean meal 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at $304.40 are needed to confirm that a short-term low has been posted. If July extends the aforementioned decline, monthly support crossing at $283.10 is the next downside target. First resistance is the 20-day moving average crossing at $300.60. Second is the 50-day moving average crossing at $304.40. First support is Tuesday's low crossing at $286.50. Second support is monthly support crossing at $283.10.      

July soybean oil closed down 49-pts. At 25.55. 

July soybean oil 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 bearish signaling that sideways to lower prices are possible near-term. If July extends this week's decline, March's low crossing at 25.02 is the next downside target. Closes above the 20-day moving average crossing at 26.83 would temper the near-term bearish outlook. First resistance is the 20-day moving average crossing at 26.83. Second resistance is the 50-day moving average crossing at 27.86. First support is Tuesday's low crossing at 25.18. Second support is March's low crossing at 25.02.        

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June hogs closed down $0.10 at $51.53. 

June hogs closed slightly 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 remain neutral to bullish signaling that sideways to higher prices are possible near-term. Today's close above the 20-day moving average crossing at $50.55 confirms that a short-term low has been posted. If June renews this year's decline, weekly support crossing at $40.70 is the next downside target. First resistance is today's high crossing at $53.48. Second resistance is the April 8^th high crossing at $57.15. First support is last-Tuesday's low crossing at $41.50. Second support is weekly support crossing at $40.70.   

June cattle closed down $0.30 at $82.62. 

June cattle closed lower on Friday. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are neutral signaling that sideways prices are possible near-term. Closes above last-Friday's high crossing at $88.13 are needed to confirm that a short-term low has been posted. If June resumes this year's decline, monthly support crossing at $69.29 is the next downside target. First resistance is last-Friday's high crossing at $88.13. Second resistance is the 50-day moving average crossing at $94.05. First support is April's low crossing at $76.60. Second support is monthly support crossing at $69.29.  

May Feeder cattle closed up $0.18-cents at $117.45. 

May Feeder cattle closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's 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 $120.85 would signal that a short-term low has been posted. If May resumes this year's decline, monthly support crossing at $95.50 is the next downside target. First resistance is last-Friday's high crossing at $120.85. Second resistance is the 50-day moving average crossing at $124.57. First support is April's low crossing at $103.62. Second support is monthly support crossing at $95.50.       

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

May coffee gapped down and 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 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 this week's decline, March's low crossing at 10.14 is the next downside target. Closes above the 20-day moving average crossing at 11.59 would signal that a low has been posted. 

July cocoa 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 on Monday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends the decline off March's high, March's low crossing at 10.13 is the next downside target. Closes above the 20-day moving average crossing at 11.72 would signal that a short-term low has been posted.      

July sugar closed lower on Friday as it extends this week's decline. The low-range close set 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. If July extends the decline off February's high, monthly support crossing at 8.36 is the next downside target. Closes above the 20-day moving average crossing at 10.33 are needed to temper the near-term bearish outlook.         

July cotton closed lower on Friday. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends the rally off March's low, the 50-day moving average crossing at 58.46 is the next upside target. Closes below the 20-day moving average crossing at 52.83 would temper the near-term friendly outlook.