KEY EVENTS TO WATCH FOR:
Tuesday, June 23, 2020
7:45 AM ET. The Retail Economist/Goldman Sachs Weekly Chain Store Sales Index
Chain Store Sales, W/W% (previous +3.9%)
Chain Store Sales, M/M% (previous -11.5%)
8:30 AM ET. 1st Quarter State Quarterly Personal Income
8:55 AM ET. Johnson Redbook Retail Sales Index
Ret Sales Mo-to-Date, M/M% (previous -2.4%)
Ret Sales Mo-to-Date, Y/Y% (previous -9.0%)
Latest Wk, Y/Y% (previous -8.3%)
9:45 AM ET. June US Flash Manufacturing PMI
PMI, Mfg (previous 39.8)
9:45 AM ET. June US Flash Services PMI
PMI, Services (previous 36.9)
10:00 AM ET. June Richmond Fed Business Activity Survey
Mfg Idx (previous -27)
Shipments Idx (previous -26)
10:00 AM ET. May New Residential Sales
New Home Sales (previous 623K)
New Home Sales, M/M% (previous +0.6%)
New Home Sales Months Supply (previous 6.3)
4:30 PM ET. API Weekly Statistical Bulletin
Crude Stocks, Net Chg (Bbls) (previous +3.9M)
Gasoline Stocks, Net Chg (Bbls) (previous +4.3M)
Distillate Stocks, Net Chg (Bbls) (previous +0.9M)
Wednesday, June 24, 2020
7:00 AM ET. MBA Weekly Mortgage Applications Survey
Composite Idx (previous 846.9)
Composite Idx, W/W% (previous +8.0%)
Purchase Idx-SA (previous 322.5)
Purchase Idx-SA, W/W% (previous +3.5%)
Refinance Idx (previous 3891.5)
Refinance Idx, W/W% (previous +10.3%)
9:00 AM ET. IMF World Economic Outlook Update
9:00 AM ET. April U.S. Monthly House Price Index
10:30 AM ET. EIA Weekly Petroleum Status Report
Crude Oil Stocks (Bbl) (previous 539.28M)
Crude Oil Stocks, Net Chg (Bbl) (previous +1.215M)
Gasoline Stocks (Bbl) (previous 256.995M)
Gasoline Stocks, Net Chg (Bbl) (previous -1.666M)
Distillate Stocks (Bbl) (previous 174.471M)
Distillate Stocks, Net Chg (Bbl) (previous -1.358M)
Refinery Usage (previous 73.8%)
Total Prod Supplied (Bbl/day) (previous 17.29M)
Total Prod Supplied, Net Chg (Bbl/day) (previous -0.283M)
Thursday, June 25, 2020
8:30 AM ET. U.S. Weekly Export Sales
Corn (Metric Tons) (previous 472.6K)
Soybeans (Metric Tons) (previous 1920.2K)
Wheat (Metric Tons) (previous 504.8K)
8:30 AM ET. May Advance Economic Indicators Report
8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims
Jobless Claims (previous 1508K)
Jobless Claims, Net Chg (previous -58K)
Continuing Claims (previous 20544000)
Continuing Claims, Net Chg (previous -62K)
8:30 AM ET. 1st Quarter Revised Corporate Profits
8:30 AM ET. 1st Quarter 3rd estimate GDP
Annual Rate, Q/Q% (previous -5%)
Chain-Weighted Price Idx, Q/Q% (previous +1.4%)
Corporate Profits, Q/Q% (previous -15.9%)
PCE Price Idx, Q/Q% (previous +1.3%)
Purchase Price Idx, Q/Q% (previous +1.7%)
Real Final Sales, Q/Q% (previous -3.7%)
Core PCE Price Idx, Ex Food/Energy, Q/Q% (previous +1.6%)
Personal Consumption, Q/Q% (previous -6.8%)
8:30 AM ET. May Advance Report on Durable Goods
Durable Goods-SA, M/M% (previous -17.2%)
Dur Goods, Ex-Defense, M/M% (previous -16.2%)
Dur Goods, Ex-Transport, M/M% (previous -7.4%)
Orders: Cap Gds, Non-Def, Ex-Air, M/M% (previous -5.8%)
Shipmnts: Cap Gds, Non-Def, Ex-Air, M/M% (previous -5.4%)
9:45 AM ET. Bloomberg Consumer Comfort Index
10:30 AM ET. EIA Weekly Natural Gas Storage Report
Working Gas In Storage (Cbf) (previous 2892B)
Working Gas In Storage, Net Chg (Cbf) (previous +85B)
11:00 AM ET. June Federal Reserve Bank of Kansas City Survey of Tenth District Manufacturing
Mfg Activity Idx (previous -25)
6-Mo Exp Prod Idx (previous -2)
Mfg Composite Idx (previous -19)
6-Mo Exp Composite Idx (previous -2)
4:30 PM ET. Federal Reserve Board releases latest Comprehensive Capital Analysis and Review results
4:30 PM ET. Foreign Central Bank Holdings
4:30 PM ET. Money Stock Measures
4:30 PM ET. Federal Discount Window Borrowings
4:30 PM ET. Federal Reserve Board releases latest supervisory stress test results
Friday, June 26, 2020
8:30 AM ET. May Personal Income & Outlays
Personal Income, M/M% (previous +10.5%)
Consumer Spending, M/M% (previous -13.6%)
PCE Price Idx, M/M% (previous -0.5%)
PCE Price Idx, Y/Y% (previous +0.5%)
PCE Core Price Idx, M/M% (previous -0.4%)
PCE Core Price Idx, Y/Y% (previous +1%)
10:00 AM ET. June University of Michigan Survey of Consumers – final
End-Mo Sentiment Idx (previous 72.3)
End-Mo Expectations Idx (previous 65.9)
12-Month Inflation Forecast (previous 3.2%)
5-Year Inflation Forecast (previous 2.7%)
End-Mo Current Idx (previous 82.3)
The STOCK INDEXES http://quotes.ino.com/exchanges/?c=indexes"
The STOCK INDEXES:The September NASDAQ 100 was higher in overnight trading as it extends the rally off last-Monday's low. The high-range trade sets the stage for a steady to higher opening when the day 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 September extends the rally off March's low into uncharted territory, upside targets will be hard to project. Closes below last-Monday's low crossing at 9381.75 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at 10204.50. Second resistance is unknown. First support is last-Monday's low crossing at 9381.75. Second support is the 50-day moving average crossing at 9290.64.
The September S&P 500 was higher overnight.The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading later this morning.Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above last-Tuesday's high crossing at 3148.50 would confirm that a short-term low has been posted. If September resumes the decline off June's high the 50-day moving average crossing at 2951.43 is the next downside target. First resistance is last-Tuesday's high crossing at 3148.50. Second resistance is the 87% retracement level of the February-March-decline crossing at 3237.65. First support is the 50-day moving average crossing at 2951.43. Second support is the June 15th low crossing at 2925.70.
INTEREST RATES http://quotes.ino.com/ex changes/?c=interest"
INTEREST RATES: September T-bonds were lower overnight. Stochastics and the RSI are neutral to bullish signaling that sideways to higher is possible near-term. Closes above the 50-day moving average crossing at 177-26 are needed to confirm that a short-term low has been posted while opening the door for additional short-term gains. Closes below last-Tuesday's low crossing at 174-29 would temper the near-term friendly outlook. First resistance is the 50-day moving average crossing at 177-26. Second resistance is the May 15th high crossing at 180-28. First support is the 50% retracement level of the December-March rally crossing at 171-27. Second support is the 62% retracement level of the December-March rally crossing at 167-18.
September T-notes were steady to slightly lower overnight. The low-range overnight trade sets the stage for a steady to lower opening with the day 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 September resumes the rally off June's low, the May 15th high crossing at 139.135 is the next upside target. Closes below last-Tuesday's low crossing at 138.070 would signal that a short-term top has been posted. First resistance is the June 1st high crossing at 139.075. Second resistance is the May 15th high crossing at 139.135. First support is June's low crossing at 136.220. Second support is the March 18th low crossing at 133.225.
ENERGY MARKETS? http://quotes.ino.com/ex?changes/?c=energy ""
August crude oil was higher in overnight trading as it extends the rally off April's low.The high-range overnight trade sets the stage for a steady to higher opening when the day 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 August extends the rally off April's low, the 62% retracement level of the February-April-decline crossing at $46.20 is the next upside target. Closes below last-Monday's low crossing at $34.66 would confirm that a short-term top has been posted. First resistance is the 50% retracement level of the February-April-decline crossing at $41.25. Second resistance is the 62% retracement level of the February-April-decline crossing at $46.20. First support is last-Monday's low crossing at $34.66. Second support is the 50-day moving average crossing at $31.95.
August heating oil was higher overnight as it extends the rally off April's low. The high-range overnight trade sets the stage for a steady to higher opening when the day 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 August extends the rally off April's low, the 38% retracement level of the January-April-decline crossing at $128.27 is the next upside target. Closes below the 20-day moving average crossing at $114.26 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at $125.25. Second resistance is the 38% retracement level of the February-April-decline crossing at $128.27. First support is the 20-day moving average crossing at $114.26. Second support is the 50-day moving average crossing at $103.89.
August unleaded gas was higher overnight as it extends the rally off April's low. The high-range overnight trade sets the stage for a steady to higher opening when the day 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 August extends the rally off April's low, the 62% retracement level of the January-March-decline crossing at $141.79 is the next upside target. Closes below the June 12th low crossing at $109.16 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at $131.75.. Second resistance is the 62%retracement level of the January-March-decline crossing at $141.79. First support is the June 12th low crossing at $109.16. Second support is the 50-day moving average crossing at $100.86.
August Henry natural gas was lower overnight. The mid-range overnight trade sets the stage for a steady to lower opening when the day 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 August extends the decline off May's high, weekly support crossing at 1.515 is the next downside target. Closes above the 20-day moving average crossing at 1.838 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 1.774. Second resistance is the 20-day moving average crossing at 1.838. First support is last-Wednesday's low crossing at 1.688. Second support is weekly support crossing at 1.515.
CURRENCIEShttp://quotes.ino.com/ex changes/?c=currencies"
CURRENCIES:The September Dollar was lower overnight. The low-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If September resumes the decline off May's high, March's low crossing at $94.71 is the next downside target. If September extends the rally off June's low, the 50-day moving average crossing at $98.81 is the next upside target. First resistance is Monday's high crossing at $97.70. Second resistance is the 50-day moving average crossing at $98.81. First support is the 87% retracement level of March's rally crossing at $95.88. Second support is March's low crossing at $94.71.
The September Euro was higher in late-overnight trading as it consolidates some of the decline off June's high. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If June resumes the rally off May's low, the 87% retracement level of March's decline crossing at $114.58 is the next upside target. If September extends the decline off June's high, the 50-day moving average crossing at $110.45 is the next downside target. First resistance is the June 10th high crossing at $114.47. Second resistance is the 87% retracement level of March's decline crossing at $114.58. First support is last-Friday's low crossing at $111.90. Second support is the 50-day moving average crossing at $110.45.
The September British Pound was lower overnight. The low-range overnight trade sets the stage for a steady to lower opening when the day session beings trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends the decline off June's high, the May 22nd low crossing at 1.2170 is the next downside target. Closes above the 10-day moving average crossing at 1.2537 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 1.2537. Second resistance is the 75% retracement level of the December-March decline crossing at 1.2745. First support is the May 22nd low crossing at 1.2170. Second support is May's low crossing at 1.2083.
The September Swiss Franc was higher in overnight trading. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If September renews the rally off April's low, the 75% retracement level of March's decline crossing at 1.0759 is the next upside target. Closes below the 20-day moving average crossing at 1.0506 would signal that a short-term top has been posted. First resistance is the 62% retracement level of March's decline crossing at 1.0659. Second resistance is the 75% retracement level of March's decline crossing at 1.0759. First support is the 20-day moving average crossing at 1.0506. Second support is the 50-day moving average crossing at 1.0411.
The September Canadian Dollar was steady to slightly lower overnight. The mid-range trade sets the stage for a steady to slightly lower opening when the day session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If September resumes the rally off March's low, the 87% retracement level of the January-March-decline crossing at 76.04 is the next upside target. Closes below last-Monday's low crossing at 73.08 are needed to confirm that a short-term top has been posted. First resistance is the 75% retracement level of the January-March-decline crossing at 74.99. Second resistance is the 87% retracement level of the January-March-decline crossing at 76.04. First support is last-Monday's low crossing at 73.08. Second support is the 50-day moving average crossing at 72.31.
The September Japanese Yen was lower overnight. The low-range overnight trade sets the stage for a steady to lower opening when the day 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 September resumes the rally off June's low, May's high crossing at 0.0945 is the next upside target. Closes below the 20-day moving average crossing at 0.0930 would signal that a short-term top has been posted. First resistance is the reaction high crossing at 0.0940. Second resistance is May's high crossing at 0.0945. First support is the 20-day moving average crossing at 0.0930. Second support is June's low crossing at 0.0912.
PRECIOUS METALS http://quotes.ino.com/ex changes/?c=metals"
PRECIOUS METALS: August gold was slightly higher in late-overnight trading as it extends the rally off June's low. The high-range overnight trade sets the stage for a steady to higher opening when the day 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 August extends the rally off May's low, is May's high crossing at $1787.50 is the next upside target. Closes below the 20-day moving average crossing at $1733.00 would signal that a short-term top has likely been posted. First resistance is Monday's high crossing at $1779.00. Second resistance is May's high crossing at $1787.50. First support is the June 5th low crossing at $1671.70. Second support is the 38% retracement level of the March-April-rally crossing at $1661.00.
July silver was steady to slightly higher overnight. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading later this morning. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If July renews the rally off March's low, February's high crossing at $19.075 is the next upside target. Closes below last-Monday's low crossing at $17.015 would confirm a downside breakout of the May-June head-and-shoulders top. First resistance is June's high crossing at $18.950. Second resistance is February's high crossing at $19.075. First support is last-Monday's low crossing at $17.015. Second support is the 50-day moving average crossing at $16.759.
July copper was higher overnight. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If July resumes the rally off March's low, the 87% retracement level of the January-March-decline crossing at 2.7793 is the next upside target. Closes below the 20-day moving average crossing at 2.5510 would confirm that a short-term top has been posted. First resistance is the June 10th high crossing at 2.7000. Second resistance is the 87% retracement level of the January-March-decline crossing at 2.7793. First support is the 20-day moving average crossing at 2.5510. Second support is the 50-day moving average crossing at 2.4345.
GRAINS http://quotes.ino.com/ex changes/?c=grains
July corn was lower overnight. The mid-range trade sets the stage for a steady to lower opening when the day sessions begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at $3.23 1/4 would signal that a short-term top has been posted. If July resumes the rally off April's low, April's high crossing at $3.47 1/2 is the next potential upside target. First resistance is the reaction high crossing at $3.34 3/4. Second resistance is April's high crossing at $3.47 1/2. First support is the 50-day moving average crossing at $3.23 1/4. Second support is April's low crossing at $3.09.
July wheat was lower overnight. The mid-range trade sets the stage for a steady to lower opening when the day 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 the decline off March's high, last-September's low crossing at $4.68 1/4 is the next downside target. Closes above the 20-day moving average crossing at $5.03 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at $4.93. Second resistance is the 20-day moving average crossing at $5.03. First support is last-Friday's low crossing at $4.76. Second support is last-September's low crossing at $4.68 1/4.
July Kansas City wheat was lower overnight. The mid-range close sets the stage for a steady to lower opening when the day 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 month's decline, March's low crossing at $4.27 1/4 is the next downside target. Closes above the 20-day moving average crossing at $4.50 would temper the near-term bearish outlook. First resistance is the 10-day moving average crossing at $4.39. Second resistance is the 20-day moving average crossing at $4.50. First support is the overnight low crossing at $4.26. Second support is last-September's low crossing at $4.19.
July Minneapolis wheat was lower in overnight trading. The mid-range overnight trade sets the stage for a steady to lower opening when the day 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 $5.17 would temper the near-term friendly outlook. Closes above the June 6th high crossing at $5.29 3/4 are needed to renew the rally off May's low. First resistance is the June 6th high crossing at $5.29 3/4. Second resistance is April's high crossing at $5.48 1/4. First support is the May 18th low crossing at $5.04 1/4. Second support is May's low crossing at $5.02.
SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains "
July soybeans were lower overnight as it consolidates some of the rally off April's low. The mid-range trade sets the stage for a steady to lower opening when the day 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 July extends the rally off April's low, the 38% retracement level of the October-April decline crossing at $8.82. Closes below the 50-day moving average crossing at $8.50 3/4 would confirm that a short-term top has been posted. First resistance is last-Friday's high crossing at $8.80 1/2. Second resistance is the 38% retracement level of the October-April decline crossing at $8.82. First support is the 20-day moving average crossing at $8.63 1/4. Second support is the 50-day moving average crossing at $8.50 3/4.
July soybean meal was slightly higher overnight as it extends the trading range of the past three-weeks. The high-range trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $287.00 would signal that a short-term top has been posted. If July renews the rally off May's low, May's high crossing at $295.80 is the next upside target. First resistance is the June 12th high crossing at $292.80. Second resistance is May's high crossing at $295.80. First support is the 20-day moving average crossing at $287.00 Second support is May's low crossing at $281.50.
July soybean oil was steady to slightly lower overnight as it consolidates some of the rally off April's low. The high-range trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are becoming overbought, diverging but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends the rally off April's low, the 38% retracement level of the January-March-decline crossing at 29.32 is the next upside target. Closes below the 20-day moving average crossing at 27.91 would signal that a short-term top has been posted. First resistance is last-Friday's high crossing at 28.68. Second resistance is the 38% retracement level of the January-March-decline crossing at 29.32. First support is the 20-day moving average crossing at 27.91. Second support is the 50-day moving average crossing at 27.02.
LIVESTOCKhttp://quotes.ino.com/exchanges/?c=livestock
July hogs closed down $1.78 at $46.68.
July hogs gapped down and 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends the decline off May's high, weekly support crossing at $44.76 is the next downside target. Closes above the 20-day moving average crossing at $53.15 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at $50.57. Second resistance is the 20-day moving average crossing at $53.15. First support is today's low crossing at $$45.75. Second support is weekly support crossing at $44.76.
August cattle closed down $0.35 at $95.05.
August cattle closed lower 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 bearish signaling that sideways to lower prices are possible near-term. If August extends today's decline, the May 5th low crossing at $91.20 is the next downside target. Closes above the 20-day moving average crossing at 97.42 would signal that a short-term low has been posted. First resistance is the May 8th high crossing at $101.90. Second resistance is the 62% retracement level of the January-April-decline crossing at $103.35. First support is last-Monday's low crossing at $93.58. Second support is the May 5th low crossing at $91.20.
August Feeder cattle closed down $1.05-cents at $131.50.
August Feeder cattle closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below last-Monday's low crossing at $128.68 would confirm that a short-term top has been posted. If August resumes the rally off last-Monday's low, June's high crossing at $136.73 is the next upside target. First resistance is June's high crossing at $136.73. Second resistance is May's high crossing at $138.80. First support is last-Monday's low crossing at $128.68. Second support is May's low crossing at $125.30.
FOOD & FIBERhttp://quotes.ino.com/ex changes/?c=food
July coffee 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 a low might be in or is near. Closes above the 20-day moving average crossing at 9.74 would confirm that a low has been posted. If July resumes the decline off March's high, weekly support crossing at 9.22 is the next downside target.
July cocoa closed higher on Monday as it the March-June trading range. 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 July extends the rally off last-Friday's low, June's high crossing at 25.08 is the next upside target. If July extends the decline off June's high, April's low crossing at 22.15 is the next downside target.
July sugar closed lower on Friday as it extends the trading range of the past three-weeks. The low-range close set the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are overbought and are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 11.67 would confirm that a short-term top has been posted. If July renews the rally off April's low, the 62% retracement level of the January-April-decline crossing at 12.84 is the next upside target.
July cotton closed higher on Monday as it extends the rally off April's low. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends the rally off April's low, the 62% retracement level of the January-April-decline crossing at 64.11 is the next upside target. Closes below last-Monday's low crossing at 58.69 would signal that a short-term top has been posted.
Thanks tallpine!
Temps are even cooler today(from the hot to very warm week 2 maps late last week that keep getting cooler).
This is even more bearish natural gas.
Also bearish corn and beans with decent chances of rain too.
KC wheat could put in a reversal higher today if we close up on the day and potentially mark the June preharvest lows.
Corn rating yesterday surprised and went up 1%, beans were down 2% and affecting trade.
Spring wheat was -6% but expected.