KEY EVENTS TO WATCH FOR:
Monday, June 29, 2020
10:00 AM ET. May Pending Home Sales Index
Pending Home Sales (previous 69.0)
Pending Home Sales Idx, M/M% (previous -21.8%)
Pending Home Sales Idx , Y/Y% (previous -33.8%)
10:30 AM ET. June Texas Manufacturing Outlook Survey
Business Activity (previous -49.2)
Mfg Production Idx (previous -28.0)
Tuesday, June 30, 2020
7:45 AM ET. The Retail Economist/Goldman Sachs Weekly Chain Store Sales Index
Chain Store Sales, W/W% (previous +4.0%)
Chain Store Sales, M/M% (previous -10.4%)
8:55 AM ET. Johnson Redbook Retail Sales Index
Ret Sales Mo-to-Date, M/M% (previous -1.4%)
Ret Sales Mo-to-Date, Y/Y% (previous -8.0%)
Latest Wk, Y/Y% (previous -6.1%)
9:00 AM ET. April S&P CoreLogic Case-Shiller Indices
10-City Idx, M/M% (previous +1%)
10-City Idx, Y/Y% (previous +3.4%)
20-City Idx, M/M% (previous +1.1%)
20-City Idx, Y/Y% (previous +3.9%)
National Idx, M/M% (previous +0.8%)
National Idx, Y/Y% (previous +4.4%)
9:45 AM ET. June ISM-Chicago Business Survey - Chicago PMI
PMI-Adj (previous 32.3)
10:00 AM ET. June Consumer Confidence Index
Cons Conf Idx (previous 86.6)
Expectation Idx (previous 96.9)
Present Situation Idx (previous 71.1)
3:00 PM ET. May Agricultural Prices
Farm Prices, M/M% (previous +3.1%)
4:30 PM ET. API Weekly Statistical Bulletin
Crude Stocks, Net Chg (Bbls) (previous +1.7M)
Gasoline Stocks, Net Chg (Bbls) (previous -0.3M)
Distillate Stocks, Net Chg (Bbls) (previous -3.9M)
Wednesday, July 1, 2020
7:00 AM ET. MBA Weekly Mortgage Applications Survey
Composite Idx (previous 773.1)
Composite Idx, W/W% (previous -8.7%)
Purchase Idx-SA (previous 312.7)
Purchase Idx-SA, W/W% (previous -3.0%)
Refinance Idx (previous 3434.6)
Refinance Idx, W/W% (previous -11.7%)
7:30 AM ET. June Challenger Job-Cut Report
Job Cuts, M/M% (previous +577.8%)
8:15 AM ET. June ADP National Employment Report
Private Sector Jobs, Net Chg (previous -2760K)
9:45 AM ET. June US Manufacturing PMI
PMI, Mfg (previous 39.8)
10:00 AM ET. May Metropolitan Area Employment & Unemployment
10:00 AM ET. May Construction Spending - Construction Put in Place
New Construction (previous -2.9%)
Residential Construction
10:00 AM ET. June ISM Manufacturing Report on Business
Manufacturing PMI (previous 43.1)
Prices Idx (previous 40.8)
Employment Idx (previous 32.1)
Inventories (previous 50.4)
New Orders Idx (previous 31.8)
Production Idx (previous 33.2)
10:30 AM ET. EIA Weekly Petroleum Status Report
Crude Oil Stocks (Bbl) (previous 540.722M)
Crude Oil Stocks, Net Chg (Bbl) (previous +1.442M)
Gasoline Stocks (Bbl) (previous 255.322M)
Gasoline Stocks, Net Chg (Bbl) (previous -1.673M)
Distillate Stocks (Bbl) (previous 174.72M)
Distillate Stocks, Net Chg (Bbl) (previous +0.249M)
Refinery Usage (previous 74.6%)
Total Prod Supplied (Bbl/day) (previous 18.348M)
Total Prod Supplied, Net Chg (Bbl/day) (previous +1.058M)
11:00 AM ET. June Global Manufacturing PMI
PMI, Mfg (previous 42.4)
2:00 PM ET. Federal Open Market Committee meeting minutes and economic forecast
4:00 PM ET. June Domestic Auto Industry Sales
N/A United States-Mexico-Canada Agreement enters into force
Thursday, July 2, 2020
8:30 AM ET. U.S. Weekly Export Sales
Corn (Metric Tons) (previous 538.7K)
Soybeans (Metric Tons) (previous 1162.6K)
Wheat (Metric Tons) (previous 518.7K)
8:30 AM ET. June U.S. Employment Report
Non-Farm Payrolls (previous +2509K)
Unemployment Rate (previous 13.3%)
Avg Hourly Earnings (USD) (previous 29.75)
Avg Hourly Earnings-Net Chg (USD) (previous -0.29)
Avg Hourly Earnings, M/M% (previous -0.97%)
Avg Hourly Earnings, Y/Y% (previous +6.75%)
Overall Workweek (previous 34.7)
Overall Workweek Net Chg (previous +0.5)
Government Payrolls (previous -585K)
Private Payroll (previous +3094K)
Participation Rate (previous 60.8%)
Non-Farm Payrolls Bench Net Chg
8:30 AM ET. May U.S. International Trade in Goods & Services
Trade Balance (USD) (previous -49.41B)
Exports (USD) (previous 151.28B)
Exports, M/M% (previous -20.5%)
Imports (USD) (previous 200.69B)
Imports, M/M% (previous -13.7%)
8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims
Jobless Claims (previous 1480K)
Jobless Claims, Net Chg (previous -60K)
Continuing Claims (previous 19522000)
Continuing Claims, Net Chg (previous -767K)
9:45 AM ET. Bloomberg Consumer Comfort Index
9:45 AM ET. June ISM-NY Report on Business
Business Index (previous 19.5)
10:00 AM ET. May Manufacturers' Shipments, Inventories & Orders (M3)
Total Orders, M/M% (previous -13.0%)
Orders, Ex-Defense, M/M% (previous -12.3%)
Orders, Ex-Transport, M/M% (previous -8.5%)
Durable Goods, M/M%
Durable Goods, M/M%
10:30 AM ET. EIA Weekly Natural Gas Storage Report
Working Gas In Storage (Cbf) (previous 3012B)
Working Gas In Storage, Net Chg (Cbf) (previous +120B)
4:30 PM ET. Money Stock Measures
4:30 PM ET. Federal Discount Window Borrowings
4:30 PM ET. Foreign Central Bank Holdings
Friday, July 3, 2020
N/A U.S. Independence Day observed. Financial markets closed
The STOCK INDEXES http://quotes.ino.com/exchanges/?c=indexes"
The STOCK INDEXES:The September NASDAQ 100 was lower overnight as it extends last week's decline. The mid-range 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. Multiple closes below the 20-day moving average crossing at 9880.14 would confirm that a short-term top has been posted. If September renews the rally off March's low into uncharted territory, upside targets will be hard to project. First resistance is last-Tuesday's high crossing at 10204.50. Second resistance is unknown. First support is the 20-day moving average crossing at 9880.14. Second support is the June 15th low crossing at 9368.25.
The September S&P 500 was lower overnight as it extends last-week's decline. The low-range overnight trade sets the stage for a steady to lower opening when the day session begins trading later this morning.Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends last-week's decline the 50-day moving average crossing at 2966.00 is the next downside target. Closes above the reaction high crossing at 3148.50 would confirm that a short-term low has been posted. First resistance is the reaction 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 2966.00. 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 steady to slightly lower overnight. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher is possible near-term. If September extends the rally off June's low, the May 15th high crossing at 180-25 is the next upside target. Closes below the reaction low crossing at 174-29 would temper the near-term friendly outlook. First resistance is the overnight high crossing at 179-13. 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 mid-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 the reaction 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 steady to slightly 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 neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the reaction low crossing at $34.66 would confirm that a short-term top has been posted. 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. 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 the reaction low crossing at $34.66. Second support is the 50-day moving average crossing at $32.42.
August heating oil 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. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If August extends last-week's decline, the 50-day moving average crossing at $104.52 is the next downside target. If August resumes the rally off April's low, the 38% retracement level of the January-April-decline crossing at $128.27 is the next upside target. First resistance is last-Tuesday's high crossing at $125.34. Second resistance is the 38% retracement level of the February-April-decline crossing at $128.27. First support is the reaction low crossing at $107.80. Second support is the 50-day moving average crossing at $104.52.
August unleaded gas was steady to slightly lower 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 bearish signaling that sideways to lower prices are possible near-term. Closes below the June 12th low crossing at $109.16 would confirm that a short-term top has been posted. If August renews the rally off April's low, the 62% retracement level of the January-March-decline crossing at $141.79 is the next upside target. First resistance is last-Tuesday's high crossing at $132.53. 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 $103.28.
August Henry natural gas was higher due to short covering overnight as it consolidates some of the decline off May'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 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, psychological support crossing at 1.500 is the next downside target. Closes above the 20-day moving average crossing at 1.769 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 1.666. Second resistance is the 20-day moving average crossing at 1.769. First support is last-Thursday's low crossing at 1.517. 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 neutral to bullish signaling that sideways to higher prices are possible near-term. If September renews the rally off June's low, the 50-day moving average crossing at $98.60 is the next upside target. If September resumes the decline off May's high, March's low crossing at $94.71 is the next downside target. First resistance is last-Monday's high crossing at $97.70. Second resistance is the 50-day moving average crossing at $98.59. 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. 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 bearish signaling that sideways to lower prices are possible near-term. If September renews the decline off June's high, the 50-day moving average crossing at $110.71 is the next downside target. 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. 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 June's low crossing at $111.90. Second support is the 50-day moving average crossing at $110.71.
The September British Pound was steady to slightly 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 renews the decline off June's high, the May 22nd low crossing at 1.2170 is the next downside target. Closes above the 20-day moving average crossing at 1.2542 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1.2542. 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 1.0541 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 1.0541. Second support is the 50-day moving average crossing at 1.0424.
The September Canadian Dollar was steady to slightly higher overnight. The high-range trade sets the stage for a steady to higher 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 September extends the decline off June's high, the 50-day moving average crossing at 72.46 is the next downside target.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.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-Friday's low crossing at 72.92. Second support is the 50-day moving average crossing at 72.46.
The September Japanese Yen was steady to slightly higher overnight. The mid-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 bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 0.0931 would signal that a short-term top has been posted. If September extends the rally off June's low, May's high crossing at 0.0945 is the next upside target. First resistance is last-Tuesday's high crossing at 0.0944. Second resistance is May's high crossing at 0.0945. First support is the 20-day moving average crossing at 0.0931. 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 steady to slightly lower in late-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 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, monthly resistance crossing at $1809.50 is the next upside target. Closes below the 50-day moving average crossing at $1736.50 would signal that a short-term top has likely been posted. First resistance is last-Wednesday's high crossing at $1796.10. Second resistance is monthly resistance crossing at $1809.50. First support is the 50-day moving average crossing at $1736.50. Second support is the June 15th low crossing at $1706.20.
July silver was steady to slightly higher overnight. The mid-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 June's low crossing at $17.015 would confirm a downside breakout of the May-June trading range. First resistance is June's high crossing at $18.950. Second resistance is February's high crossing at $19.075. First support is June's low crossing at $17.015. Second support is the 50-day moving average crossing at $16.923.
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 turning 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 2.5967 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 2.5967. Second support is the 50-day moving average crossing at 2.4602.
GRAINS http://quotes.ino.com/ex changes/?c=grains
July corn was higher due to short covering overnight as it consolidates some of last-week's sharp sell off. The high-range trade sets the stage for a steady to higher opening when the day 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 the decline off June's high, April's low crossing at $3.09 is the next downside target. Closes above the 20-day moving average crossing at $3.26 3/4 would signal that a short-term low has been posted. First resistance is June's high crossing at $3.34 3/4. Second resistance is April's high crossing at $3.47 1/2. First support is last-Friday's low crossing at $3.13 1/2. Second support is April's low crossing at $3.09.
July wheat was steady to higher overnight as it consolidates some of last-Friday's decline. The high-range trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are oversold but are poised to turn neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at $4.96 1/4 are needed to confirm that a short-term low has been posted. If July extends the decline off March's high, psychological support crossing at $4.50 is the next downside target. First resistance is the 10-day moving average crossing at $4.83 1/2. Second resistance is the 20-day moving average crossing at $4.96 1/4. First support is last-Friday's low crossing at $4.68 1/4. Second support is psychological support crossing at $4.50.
July Kansas City wheat was steady to lower overnight. The high-range close sets the stage for a steady to higher 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, psychological support crossing at $4.00 is the next downside target. Closes above the 20-day moving average crossing at $4.42 3/4 would temper the near-term bearish outlook. First resistance is the 10-day moving average crossing at $4.29 1/2. Second resistance is the 20-day moving average crossing at $4.42 3/4. First support is last-Friday's low crossing at $4.16 3/4. Second support is psychological support crossing at $4.00.
July Minneapolis wheat was steady to lower overnight as it extends June's decline. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends the decline off last-Thursday's high, weekly support crossing at $4.89 3/4 is the next downside target. Closes above the 20-day moving average crossing at $5.16 1/2 are needed to renew the rally off May's low. First resistance is the 20-day moving average crossing at $5.16 1/2. Second resistance is the June 16th high crossing at $5.27 1/2. First support is the overnight low crossing at $4.97. Second support is weekly support crossing at $4.89 3/4.
SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains "
July soybeans were lower overnight. The low-range 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 20-day moving average crossing at $8.67 3/4 would confirm that a short-term top has been posted. If July renews the rally off April's low, the 38% retracement level of the October-April decline crossing at $8.82. First resistance is June'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 $8.67 3/4. Second support is the 50-day moving average crossing at $8.52 1/4.
July soybean meal was steady to slightly higher overnight. The mid-range trade sets the stage for a steady to higher 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, May's low crossing at $281.50 is the next downside target. 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 overnight low crossing at $281.70 Second support is May's low crossing at $281.50.
July soybean oil was lower overnight as it extends last-week's decline. The low-range 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. If July extends last-week's decline, the May 22nd low crossing at 26.58 is the next downside target. If July renews the rally off April's low, the 38% retracement level of the January-March-decline crossing at 29.32 is the next upside target. First resistance is June'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 50-day moving average crossing at 27.06. Second support is the May 22nd low crossing at 26.58.
LIVESTOCKhttp://quotes.ino.com/exchanges/?c=livestock
July hogs closed down $1.68 at $45.25.
July hogs 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 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 $50.82 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at $48.10. Second resistance is the 20-day moving average crossing at $50.82. First support is today's low crossing at $44.98. Second support is weekly support crossing at $44.76.
August cattle closed down $0.05 at $96.13.
August 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 turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the June 15th low crossing at $93.58 would renew the decline off May's high. If August renews Tuesday's rally, the May 28th high crossing at $101.30. 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 the June 15th low crossing at $93.58. Second support is the May 5th low crossing at $91.20.
August Feeder cattle closed down $0.45-cents at $132.80.
August Feeder cattle closed lower on Friday. The mid-range close sets the stage for a steady to lower 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. If August extends the rally off June's low, June's high crossing at $136.73 is the next upside target. Closes below June's low crossing at $128.68 would confirm that a short-term top has been posted. First resistance is June's high crossing at $136.73. Second resistance is May's high crossing at $138.80. First support is June'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
September coffee closed slightly higher on Friday. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. If July resumes the decline off March's high, weekly support crossing at 9.22 is the next downside target. Closes above Wednesday's high crossing at 9.98 would confirm that a low has been posted.
September cocoa closed sharply lower on Friday. 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. If September extends the rally off last-Friday's low, June's high crossing at 25.08 is the next upside target. If September renews the decline off June's high, March's low crossing at 22.08 is the next downside target.
October sugar closed sharply lower on Friday marking a downside breakout of the trading range of the past three-weeks. 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 near-term. Today's close below the 20-day moving average crossing at 11.95 confirms that a short-term top has been posted while opening the door for additional weakness near-term. If October renews the rally off April's low, the 62% retracement level of the January-April-decline crossing at 12.90 is the next upside target.
October cotton closed slightly lower on Friday. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are turning neutral signaling that sideways prices are possible near-term. Closes below the 50-day moving average crossing at 58.37 would signal that a short-term top has been posted. If October extends the rally off April's low, the 62% retracement level of the January-April-decline crossing at 64.57 is the next upside target.
Thanks tallpine!
Widespread heat coming up and massive demand for residential AC use burning natural gas is giving that market one of its biggest days in a very long time.
Especially bullish for corn too with pollination coming up, followed by filling.......heat fill would greatly lower yields.
Heat fill coming up for corn June 25, 2020
12 responses |
Started by metmike - June 25, 2020, 7:52 p.m.
Hot as a firecracker forecast continues: