KEY EVENTS TO WATCH FOR:
Wednesday, December 23, 2020
7:00 AM ET. MBA Weekly Mortgage Applications Survey
Composite Idx (previous 857.3)
Composite Idx, W/W% (previous +1.1%)
Purchase Idx-SA (previous 331.6)
Purchase Idx-SA, W/W% (previous +1.8%)
Refinance Idx (previous 4014.5)
Refinance Idx, W/W% (previous +1.4%)
8:30 AM ET. November Personal Income & Outlays
Personal Income, M/M% (expected -0.3%; previous -0.7%)
Consumer Spending, M/M% (expected -0.3%; previous +0.5%)
PCE Price Idx, M/M% (previous +0%)
PCE Price Idx, Y/Y% (previous +1.2%)
PCE Core Price Idx, M/M% (expected +0.1%; previous +0%)
PCE Core Price Idx, Y/Y% (expected +1.5%; previous +1.4%)
8:30 AM ET. November Advance Report on Durable Goods
Durable Goods-SA, M/M% (expected +0.6%; previous +1.3%)
Dur Goods, Ex-Defense, M/M% (previous +0.2%)
Dur Goods, Ex-Transport, M/M% (previous +1.3%)
Orders: Cap Gds, Non-Def, Ex-Air, M/M% (previous +0.7%)
Shipments: Cap Gds, Non-Def, Ex-Air, M/M% (previous +2.3%)
8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims
Jobless Claims (expected 900K; previous 885K)
Jobless Claims, Net Chg (previous +23K)
Continuing Claims (previous 5508000)
Continuing Claims, Net Chg (previous -273K)
8:30 AM ET. U.S. Weekly Export Sales
Corn (Metric Tons) (previous 1934.5K)
Soybeans (Metric Tons) (previous 1016.3K)
Wheat (Metric Tons) (previous 561.4K)
9:00 AM ET. October U.S. Monthly House Price Index
10:00 AM ET. December University of Michigan Survey of Consumers – final
End-Mo Sentiment Idx (expected 80.7; previous 76.9)
End-Mo Expectations Idx (previous 70.5)
12-Month Inflation Forecast (previous 2.8%)
5-Year Inflation Forecast (previous 2.5%)
End-Mo Current Idx (previous 87.0)
10:00 AM ET. 3rd Quarter GDP by State
10:00 AM ET. November New Residential Sales
New Home Sales (expected 990K; previous 999K)
New Home Sales, M/M% (expected -0.9%; previous -0.3%)
New Home Sales Months Supply (previous 3.3)
10:30 AM ET. EIA Weekly Petroleum Status Report
Crude Oil Stocks (Bbl) (previous 500.096M)
Crude Oil Stocks, Net Chg (Bbl) (previous -3.135M)
Gasoline Stocks (Bbl) (previous 238.879M)
Gasoline Stocks, Net Chg (Bbl) (previous +1.02M)
Distillate Stocks (Bbl) (previous 151.259M)
Distillate Stocks, Net Chg (Bbl) (previous +0.167M)
Refinery Usage (previous 79.1%)
Total Prod Supplied (Bbl/day) (previous 19.335M)
Total Prod Supplied, Net Chg (Bbl/day) (previous +0.801M)
12:00 PM ET. EIA Weekly Natural Gas Storage Report
Working Gas In Storage (Cbf) (previous 3726B)
Working Gas In Storage, Net Chg (Cbf) (previous -122B)
Thursday, December 24, 2020
9:45 PM ET. Bloomberg Consumer Comfort Index
N/A U.S. federal offices closed on Christmas Eve as financial
markets close early
Friday, December 25, 2020
N/A Marianas: Christmas Day
N/A U.S.: Christmas Day. Financial markets closed
Monday, December 28, 2020
10:30 AM ET. December Texas Manufacturing Outlook Survey
Business Activity (previous 12.0)
Mfg Production Idx (previous 7.2)
4:30 PM ET. Foreign Central Bank Holdings
4:30 PM ET. Money Stock Measures
4:30 PM ET. Federal Discount Window Borrowings
The STOCK INDEXES? http://quotes.ino.com/ex?changes/?c=indexes
The Dow posted an inside day with a lower close on Tuesday while extending this month's trading range. Worries by investors about a new strain of COVID-19 and the impact of lockdowns in the U.K. and other countries weighed on the Dow today. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are overbought, diverging and are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below Monday's low crossing at 29,755.53 would signal that a short-term top has been posted. If the Dow extends this year's rally into uncharted territory, upside targets will be hard to project. First resistance is last-Friday's high crossing at 30,343.59. Second resistance is unknown. First support is Monday's low crossing at 29,755.53. Second support is the November 12th low crossing at 28,902.13.
The March NASDAQ 100 posted an inside day with a higher close on Tuesday. The high-range close sets the stage for a steady to slightly higher opening when Wednesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off September's low into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 12,484.28 are needed to confirm that a short-term top has been posted. First resistance is last-Friday's high crossing at 12,789.75. Second resistance is unknown. First support is the 20-day moving average crossing at 12,484.28. Second support is the 50-day moving average crossing at 12,026.68.
The March S&P 500 closed lower on Monday. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. Multiple closes below the reaction low crossing at 3636.00 would confirm that a short-term top has been posted. If March extends the rally off November's low into uncharted territory, upside targets will be hard to project. First resistance is last-Friday's high crossing at 3720.00. Second resistance is unknown. First support is the reaction low crossing at 3636.00. Second support is the 50-day moving average crossing at 3542.58.
INTEREST RATES? http://quotes.ino.com/ex?changes/?c=interest ""
March T-bonds closed up 21/32's at 173-01.
March T-bonds closed higher on Tuesday. The high-range close sets the stage for a steady to higher opening when Wednesday'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 173-31 would confirm that a low has been posted while opening the door for a possible test of November's high crossing at 177-06. If March resumes the decline off the November 20th high, November's low crossing at 170-22 is the next downside target.First resistance is the 50-day moving average crossing at 173-31. Second resistance is November's high crossing at 177-06. First support is the December 4th low crossing at 171-04. Second support is November's low crossing at 170-22.
March T-notes closed up 65-pts. at 137.310.
March T-notes closed higher on Tuesday. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the reaction high crossing at 138.070 would open the door for a possible test of November's high crossing at 138.300. Closes below last-Wednesday's low crossing at 137.195 would temper the near-term friendly outlook. First resistance is the reaction high crossing at 138.070. Second resistance is November's high crossing at 138.300. First support is the December 4th low crossing at 137.075. Second support is November's low crossing at 136.265.
ENERGY MARKETS? http://quotes.ino.com/ex?changes/?c=energy ""
February crude oil closed lower on Tuesday as demand fears over rising concerns over the Covid-19 virus weighed on prices. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $46.53 would signal that a short-term top has been posted. If February extends the rally off November's low, the 62% retracement level of the 2018-2020-decline crossing at $52.41 is the next upside target. First resistance is last-Friday's high crossing at $49.43. Second resistance is the 62% retracement level of the 2018-2020-decline crossing at $52.41. First support is the 20-day moving average crossing at $46.53. Second support is December's low crossing at $44.10.
February heating oil closed lower on Tuesday as it consolidated some of the rally off November's low. The mid-range close sets the stage for a steady to lower opening when Wednesday's night trading session begins. 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 $142.63 would signal that a short-term top has been posted. If February extends the rally off November's low, the 38% retracement level of the 2018-2020-decline crossing at $152.86 is the next upside target. First resistance is last-Friday's high crossing at $151.88. Second resistance is the 38% retracement level of the 2018-2020-decline crossing at $152.86. First support is the 20-day moving average crossing at $142.63. Second support is December's low crossing at $134.29.
February unleaded gas closed lower on Tuesday as it consolidated some of the rally off November's low. The mid-range close sets the stage for a steady to lower opening when Wednesday'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 the 20-day moving average crossing at $129.98 would signal that a short-term top has been posted. If February extends the rally off November's low, the 62% retracement level of the 2018-2020-decline crossing at $152.11 is the next upside target. First resistance is last-Friday's high crossing at $139.69. Second resistance is the 62% retracement level of the 2018-2020-decline crossing at $152.11. First support is the 20-day moving average crossing at 129.98. Second support is the 50-day moving average crossing at $120.20.
February Henry natural gas closed higher on Tuesday as it renewed the rally off December's low. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If February extends the aforementioned rally, the 38% retracement level of the November-December decline crossing at 2.797 is the next upside target. Closes below the December 15th low crossing at 2.596 would signal that a short-term top has been posted. First resistance is the 38% retracement level of the November-December-decline crossing at 2.797. Second resistance is the 50% retracement level of the November-December-decline crossing at 2.922. First support is December's low crossing at 2.393. Second support is weekly support crossing at 2.179.
CURRENCIES? http://quotes.ino.com/ex?changes/?c=currencies ""
The March Dollar closed higher on Tuesday as it consolidates some of the decline off September's high. The high-range close sets the stage for a steady to higher opening when Wednesday'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 90.81 would signal that a short-term low has been posted. If March resumes this year's decline, monthly support crossing at 88.15 is the next downside target. First resistance is the 20-day moving average crossing at 90.81. Second resistance is the 50-day moving average crossing at 92.10. First support is last-Thursday's low crossing at 89.64. Second support is monthly support crossing at 88.15.
The March Euro closed lower on Tuesday as it consolidated some of the rally off March's low. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are overbought but are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 121.37 would signal that a short-term top has been posted. If March extends the rally off November's low, the 62% retracement level of the 2018-2020-decline crossing at 125.39 is the next upside target. First resistance is last-Thursday's high crossing at 123.04. Second resistance is the 62% retracement level of the 2018-2020-decline crossing at 125.39. First support is the 20-day moving average crossing at 121.37. Second support is the December 9th low crossing at 120.90.
The March British Pound closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 50-day moving average crossing at 1.3224 would open the door for additional weakness and a possible test of November's low crossing at 1.2876. First resistance is last-Thursday's high crossing at 1.3643. Second resistance is the February-2019 high crossing at 1.3728. First support is the 50-day moving average crossing at 1.3224. Second support is November's low crossing at 1.2876.
The March Swiss Franc closed lower on Tuesday as it consolidates some of this month's rally. The low-range close sets the stage for a steady to lower opening when Wednesday'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 the 20-day moving average crossing at 1.1238 would signal that a short-term top has been posted. If March extends this month's rally, the September-2019 high crossing at 1.1408 is the next upside target. First resistance is last-Thursday's high crossing at 1.1371. Second resistance is the September-2019 high crossing at 1.1408. First support is the 20-day moving average crossing at 1.1238. Second support is the 50-day moving average crossing at 1.1105.
The March Canadian Dollar closed lower on Tuesday. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off last-Thursday's high, the 50-day moving average crossing at 76.84 is the next downside target. Closes above the 10-day moving average crossing at 78.30 would signal that a short-term low has been posted. First resistance is last-Thursday's high crossing at 78.87. Second resistance is the October-2018 high crossing at 79.09. First support is the 50-day moving average crossing at 76.84. Second support is the November 13th low crossing at 75.96.
The March Japanese Yen closed lower on Tuesday as it consolidates below the 75% retracement level of March's decline crossing at 0.0971. The low-range close sets the stage for a steady to lower opening when Wednesday’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 the 20-day moving average crossing at 0.0963 would signal that a short-term top has been posted. If March extends the rally off November's low, the 87% retracement level of March's decline crossing at 0.0981 is the next upside target. First resistance is last-Thursday's high crossing at 0.0974. Second resistance is the 87% retracement level of March's decline crossing at 0.0981. First support is the 20-day moving average crossing at 0.0963. Second support is the 50-day moving average crossing at 0.0960.
PRECIOUS METALS? http://quotes.ino.com/ex?changes/?c=metals ""
February gold closed lower on Tuesday confirming yesterday's key reversal down.The low-range close sets the stage for a steady to lower opening when Wednesday'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 the 20-day moving average crossing at $1844.30 would signal that a short-term top has been posted. If February renews the rally off November's low, November's high crossing at $1973.30 is the next upside target. First resistance is the November 16th high crossing at $1904.30. Second resistance is November's high crossing at $1973.30. First support is last-Monday's low crossing at $1820.00. Second support is November's low crossing at $1767.20.
March silver closed sharply lower on Tuesday as it consolidated some of the rally off November's low. The low-range close sets the stage for a steady to lower opening when Wednesday'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 the 20-day moving average crossing at 24.447 would signal that a short-term top has been posted. If March extends the rally off November's low, the September 15th high crossing at 28.015 is the next upside target. First resistance is Monday's high crossing at 27.635. Second resistance is the September 15th high crossing at 28.015. First support is the reaction low crossing at 23.630. Second support is November's low crossing at 21.960.
March copper closed lower on Tuesday as it consolidated some of the rally off March's low. The low-range close sets the stage for a steady to lower opening when Wednesday'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 the 20-day moving average crossing at 350.78 would signal that a short-term top has been posted. If March extends the rally off March's low, monthly resistance crossing at 379.25 is the next upside target. First resistance is last-Friday's high crossing at 364.46. Second resistance is monthly resistance crossing at 379.25. First support is the 20-day moving average crossing at 350.78. Second support is the 50-day moving average crossing at 328.67.
GRAINS? http://quotes.ino.com/ex?changes/?c=grains "
March Corn closed up $0.03 1/2-cents at $4.43 1/2.
March corn closed higher on Tuesday as it tested weekly resistance marked by the June-2016 high crossing at $4.43 1/2. The high-range close sets the stage for a steady to higher opening when Wednesday's night sessions begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off April's low, the June-2019 high on the weekly continuation chart crossing at $4.64 1/4 is the next upside target. Closes below the 50-day moving average crossing at $4.20 would signal that a short-term top has been posted. First resistance is the June-2016 high crossing at $4.43 1/2. Second resistance is the June-2019 high on the weekly chart crossing at $4.64 1/4. First support is the 50-day moving average crossing at $4.20. Second support is the December 2nd low crossing at $4.14 1/2.
March wheat closed up $0.04 3/4-cents at $6.16.
March wheat closed higher on Tuesday. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off last-Monday's low, November's high crossing at $6.28 3/4 is the next upside target. Closes below the 20-day moving average crossing at $5.95 3/4 would signal that a short-term top has been posted. First resistance is the November 25th high crossing at $6.22 3/4. Second resistance is November's high crossing at $6.28 3/4. First support is the 50% retracement level of the June-November-rally crossing at $5.71. Second support is the 62% retracement level of the June-October-rally crossing at $5.55.
March Kansas City Wheat closed up $0.03 3/4-cents at $5.78 1/4.
March Kansas City wheat closed higher on Tuesday. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March resumes this month's rally, the 87% retracement level of the 2018-2020 decline crossing at $6.12 is the next upside target. Closes below the 20-day moving average crossing at $5.58 3/4 would signal that a short-term top has been posted. First resistance is the 75% retracement level of the 2018-2020 decline crossing at crossing at $5.87 1/4. Second resistance is the 87% retracement level of the 2018-2020 decline crossing at $6.12. First support is the 20-day moving average crossing at $5.58 3/4. Second support is December's low crossing at $5.30 3/4.
March Minneapolis wheat closed up $0.01 1/4-cents at $5.71 1/2.
March Minneapolis wheat closed higher on Tuesday. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible. If March extends the rally off December's low, November's high crossing at $5.86 is the next upside target. Closes below the 20-day moving average crossing at crossing at $5.59 3/4 would confirm that a short-term top has been posted. First resistance is the reaction high crossing at crossing at $5.74. Second resistance is November's high crossing at $5.86. First support is the 20-day moving average crossing at crossing at $5.59 3/4. Second support is December's low crossing at $5.42 1/2.
SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains "
March soybeans closed up $0.04-cents at $12.51 1/2.
March soybeans closed higher on Tuesday as it extends the rally off last-March's low. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends this year's rally, the 50% retracement level of the 2012-2019-decline on the monthly chart crossing at $12.89 1/2 is the next upside target. Closes below the 20-day moving average crossing at $11.83 3/4 would signal that a short-term top has been posted while opening the door for a possible test of the 50-day moving average crossing at $11.30 1/4. First resistance is today's high crossing at $12.56 1/4. Second resistance is the 50% retracement level of the 2012-2019-decline on the monthly chart crossing at $12.89 1/2. First support is the 20-day moving average crossing at $11.83 3/4. Second support is the 50-day moving average crossing at $11.30 1/4.
March soybean meal closed up $2.30 to $414.40.
March soybean meal closed higher on Tuesday as it extends the rally off August's low. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off August's low, monthly resistance crossing at $432.50 is the next upside target. Closes below the 50-day moving average crossing at $379.00 would confirm that a short-term top has been posted. First resistance is today's high crossing at $416.30. Second resistance is monthly resistance crossing at $432.50. First support is the 20-day moving average crossing at $390.90. Second support is the 50-day moving average crossing at $379.00.
March soybean oil closed up 50-pts. at 40.05.
March soybean oil closed higher on Tuesday. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off October's low, monthly resistance crossing at 41.25 is the next upside target. Closes below the 20-day moving average crossing at 38.20 would confirm that a short-term top has been posted. First resistance is today's high crossing at 40.10. Second resistance is monthly resistance crossing at 41.25. First support is the 20-day moving average crossing at 38.20. Second support is the 50-day moving average crossing at 36.16.
LIVESTOCKhttp://quotes.ino.com/exchanges/?c=livestock
February hogs closed up $0.18 at $66.10.
February hogs closed higher on Tuesday. The mid-range close sets the stage for a steady to higher opening when Wednesday'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 $66.82 would confirm that a short-term low has been posted. If February resumes this month's decline, November's low crossing at $62.75 is the next downside target. First resistance is the 50-day moving average crossing at $66.82. Second resistance is December's high crossing at $69.60. First support is November's low crossing at $62.75. Second support is September's crossing at $61.55.
February cattle closed down $1.33 at $113.33
February cattle closed lower on Tuesday as it consolidates some of the rally off December's low. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are overbought and are turning neutral to bearish signaling that a double top with November's high might have been posted with Monday's high. Closes below the 50-day moving average crossing at $111.88 would signal that a short-term top has been posted. If February extends this week's rally, September's high crossing at $116.63 is the next upside target. If First resistance is November's high crossing at $115.45. Second resistance is September's high crossing at $116.63. First support is the 50-day moving average crossing at $111.88. Second support is the December 8th low crossing at $110.55.
March Feeder cattle closed down $1.23 at $141.90.
March Feeder cattle closed lower on Tuesday as it consolidates some of the rally off October's low. The low-range close sets the stage for a steady to lower opening when Wednesday's session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off October's low, August's high crossing at $145.30 is the next upside target. Closes below the 20-day moving average crossing at $140.25 would signal that a short-term top has been posted. First resistance is today's high crossing at $143.43. Second resistance is August's high crossing at $145.30. First support is the 20-day moving average crossing at $140.25. Second support is the December 7th low crossing at $137.25.
FOOD & FIBERhttp://quotes.ino.com/ex changes/?c=food
March coffee closed higher on Tuesday. The mid-range close sets the stage for a steady to higher opening on Wednesday. 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 12.15 are needed to confirm that a short-term top has been posted. If March extends the rally off November's low, the 87% retracement level of the September-November decline crossing at 13.17 is the next upside target.
March cocoa closed lower on Tuesday leaving yesterday's key reversal up unconfirmed. The low-range close sets the stage for a steady to lower opening on Wednesday. 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 26.19 would signal that a short-term low has been posted. Closes below the 50-day moving average crossing at 25.01 would open the door for a larger-degree decline.
March sugar closed slightly higher on Tuesday. The mid-range close set the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the reaction high crossing at 15.07 would confirm that a short-term low has been posted. If March extends the decline off November's high, the October 30th low crossing at 13.94 is the next downside target.
March cotton closed slightly higher on Tuesday as it consolidates some of Monday's decline. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 73.64 would confirm that a short-term top has been posted. If March extends the rally off April's low, the July-2018 high crossing at 79.56 is the next upside target.
Thank you tallpine!
Beans still on fire!
NG ups and downs with changing European model.