KEY EVENTS TO WATCH FOR:
Tuesday, January 26, 2021
7:45 AM ET. Weekly Chain Store Sales Index
8:55 AM ET. Johnson Redbook Retail Sales Index
Ret Sales Mo-to-Date, M/M% (previous -2.5%)
Ret Sales Mo-to-Date, Y/Y% (previous +2.2%)
Latest Wk, Y/Y% (previous +2.2%)
9:00 AM ET. November U.S. Monthly House Price Index
9:00 AM ET. November S&P CoreLogic Case-Shiller Indices
10-City Idx, M/M% (previous +1.4%)
10-City Idx, Y/Y% (previous +7.5%)
20-City Idx, M/M% (previous +1.3%)
20-City Idx, Y/Y% (expected +8.7%; previous +7.9%)
National Idx, M/M% (previous +1.4%)
National Idx, Y/Y% (previous +8.4%)
10:00 AM ET. January Richmond Fed Business Activity Survey
Mfg Idx (previous 19)
Shipments Idx (previous 12)
10:00 AM ET. January Consumer Confidence Index
Cons Conf Idx (expected 87.5; previous 88.6)
Expectation Idx (previous 87.5)
Present Situation Idx (previous 90.3)
10:00 AM ET. December State Employment and Unemployment
12:00 PM ET. World Economic Situation and Prospects report launch
4:30 PM ET. API Weekly Statistical Bulletin
Crude Stocks, Net Chg (Bbls) (previous +2.5M)
Gasoline Stocks, Net Chg (Bbls) (previous +1.1M)
Distillate Stocks, Net Chg (Bbls) (previous +0.8M)
N/A U.S. Federal Open Market Committee meeting
Wednesday, January 27, 2021
7:00 AM ET. MBA Weekly Mortgage Applications Survey
Composite Idx (previous 946.8)
Composite Idx, W/W% (previous -1.9%)
Purchase Idx-SA (previous 348.2)
Purchase Idx-SA, W/W% (previous +2.7%)
Refinance Idx (previous 4484.2)
Refinance Idx, W/W% (previous -4.7%)
8:30 AM ET. IMF Global Financial Stability Report update published
8:30 AM ET. December Advance Report on Durable Goods
Durable Goods-SA, M/M% (expected +0.9%; previous +0.9%)
Dur Goods, Ex-Defense, M/M% (previous +0.7%)
Dur Goods, Ex-Transport, M/M% (previous +0.4%)
Orders: Cap Gds, Non-Def, Ex-Air, M/M% (previous +0.4%)
Shipmnts: Cap Gds, Non-Def, Ex-Air, M/M% (previous +0.4%)
10:30 AM ET. EIA Weekly Petroleum Status Report
Crude Oil Stocks (Bbl) (previous 486.563M)
Crude Oil Stocks, Net Chg (Bbl) (previous +4.352M)
Gasoline Stocks (Bbl) (previous 245.217M)
Gasoline Stocks, Net Chg (Bbl) (previous -0.259M)
Distillate Stocks (Bbl) (previous 163.662M)
Distillate Stocks, Net Chg (Bbl) (previous +0.457M)
Refinery Usage (previous 82.5%)
Total Prod Supplied (Bbl/day) (previous 19.642M)
Total Prod Supplied, Net Chg (Bbl/day) (previous +0.035M)
2:00 PM ET. U.S. interest rate decision
Federal Funds Rate
Federal Funds Rate Change (Pts)
Fed Funds Rate-Range High (previous 0.25)
Fed Funds Rate-Range Low (previous 0.00)
FOMC Vote For Action (previous 10)
FOMC Vote Against Action (previous 0)
Discount Rate (previous 0.25)
Discount Rate Change (Pts) (previous 0.25)
Discount Rate-Range High
Discount Rate-Range Low
2:00 PM ET. SEC Closed Meeting
Thursday, January 28, 2021
8:00 AM ET. IMF Fiscal Monitor update published
8:30 AM ET. 4th Quarter Advance estimate GDP
Annual Rate, Q/Q% (expected +4.6%; previous +33.4%)
Chain-Weighted Price Idx, Q/Q% (expected +2.1%; previous +3.5%)
PCE Price Idx, Q/Q% (previous +3.7%)
Purchase Price Idx, Q/Q% (previous +3.3%)
Real Final Sales 1st Est, Q/Q% (previous +25.9%)
Core PCE Price Idx, Q/Q% (previous +3.4%)
Personal Consumption, Q/Q% (previous +41.0%)
8:30 AM ET. December Advance Economic Indicators Report
8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims
Jobless Claims (expected 875K; previous 900K)
Jobless Claims, Net Chg (previous -26K)
Continuing Claims (previous 5054000)
Continuing Claims, Net Chg (previous -127K)
8:30 AM ET. U.S. Weekly Export Sales
Corn (Metric Tons) (previous 1484K)
Soybeans (Metric Tons) (previous 2648.8K)
Wheat (Metric Tons) (previous 329.7K)
9:45 AM ET. Bloomberg Consumer Comfort Index
10:00 AM ET. December Leading Indicators
Leading Index, M/M% (expected +0.3%; previous +0.6%)
Leading Index (previous 109.1)
Coincident Index, M/M% (previous +0.2%)
Lagging Index, M/M% (previous -0.4%)
10:00 AM ET. December New Residential Sales
New Home Sales (expected 874K; previous 841K)
New Home Sales, M/M% (expected +3.9%; previous -11.0%)
New Home Sales Months Supply (previous 4.1)
10:30 AM ET. EIA Weekly Natural Gas Storage Report
Working Gas In Storage (Cbf) (previous 3009B)
Working Gas In Storage, Net Chg (Cbf) (previous -187B)
11:00 AM ET. January Federal Reserve Bank of Kansas City Survey of Tenth District Manufacturing
Mfg Activity Idx (previous 12)
6-Mo Exp Prod Idx (previous 20)
Mfg Composite Idx (previous 14)
6-Mo Exp Composite Idx (previous 17)
4:30 PM ET. Foreign Central Bank Holdings
4:30 PM ET. Money Stock Measures
4:30 PM ET. Federal Discount Window Borrowings
Friday, January 29, 2021
8:30 AM ET. December Personal Income & Outlays
Personal Income, M/M% (expected +0.1%; previous -1.1%)
Consumer Spending, M/M% (expected -0.3%; previous -0.4%)
PCE Price Idx, M/M% (previous +0%)
PCE Price Idx, Y/Y% (previous +1.1%)
PCE Core Price Idx, M/M% (expected +0.1%; previous +0%)
PCE Core Price Idx, Y/Y% (expected +1.3%; previous +1.4%)
8:30 AM ET. 4th Quarter Employment Cost Index
ECI, Q/Q% (expected +0.6%; previous +0.5%)
ECI, Y/Y% (previous +2.4%)
9:45 AM ET. January Chicago Business Barometer - ISM-Chicago Business Survey - Chicago PMI
PMI-Adj (expected 58.7; previous 59.5)
10:00 AM ET. January University of Michigan Survey of Consumers – final
End-Mo Sentiment Idx (expected 79.2; previous 80.7)
End-Mo Expectations Idx Chicago PMI (previous 74.6)
12-Month Inflation Forecast (previous 2.5%)
5-Year Inflation Forecast (previous 2.5%)
End-Mo Current Idx (previous 90.0)
10:00 AM ET. SEC Small Business Capital Formation Advisory Committee
Meeting (virtual)
10:00 AM ET. December Pending Home Sales Index
Pending Home Sales (previous 125.7)
Pending Home Sales Idx, M/M% (previous -2.6%)
Pending Home Sales Idx , Y/Y% (previous +16.4%)
The STOCK INDEXES http://quotes.ino.com/exchanges/?c=indexes"
The STOCK INDEXES: The March NASDAQ 100 was steady to lower overnight as it consolidates some of this month's rally The high-range trade sets the stage for a steady to slightly 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 the NASDAQ 100 extends the rally off November's low into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 13,002.21 would signal that a short-term top has been posted. First resistance is Monday's high crossing at 13,554.50. Second resistance is unknown. First support is the 20-day moving average crossing at 13,002.21. Second support is the 50-day moving average crossing at 12,610.70.
The March S&P 500 was steady to slightly higher overnight as it extends this month's rally. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends this year's rally into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 3774.38 would signal that a short-term top has been posted. First resistance is last-Thursday's high crossing at 3859.75. Second resistance is unknown. First support is the 20-day moving average crossing at 3774.38. Second support is the 50-day moving average crossing at 3691.53.
INTEREST RATES http://quotes.ino.com/ex changes/?c=interest"
INTEREST RATES: March T-bonds were lower overnight as it consolidates some of Monday's rally. 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. Closes above the 20-day moving average crossing at 170-03 are needed to confirm that a low has been posted. If March resumes the decline off the November high, the 50% retracement level of the 2018-2020-rally on the monthly continuation chart crossing at 164-04 is the next downside target. First resistance is the 20-day moving average crossing at 170-03. Second resistance is the 50-day moving average crossing at 172-03. First support is January's low crossing at 167-11. Second support is the 50% retracement level of the 2018-2020-rally on the monthly continuation chart crossing at 164-04.
March T-notes were lower overnight as they consolidate some of the rally off January's low. The low-range overnight trade sets the stage for a steady to lower opening with the day session begins trading. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off January's low, the 50-day moving average crossing at 137.190 is the next upside target. Closes below the 10-day moving average crossing at 136.299 would signal that a short-term top has been posted. First resistance is the 50-day moving average crossing at 137.190. Second resistance is January's high crossing at 138.055. First support is January's low crossing at 136.010. Second support is monthly support crossing at 134.298.
ENERGY MARKETS? http://quotes.ino.com/ex?changes/?c=energy ""
March crude oil was higher overnight as it extends the trading range of the past three-weeks. 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 bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $51.29 would confirm that a short-term top has been posted. If March resumes the rally off November's low, the 75% retracement level of the 2018-2020-decline crossing at $57.64 is the next upside target. First resistance is January's high crossing at $53.94. Second resistance is the 75% retracement level of the 2018-2020-decline crossing at $57.64. First support is the 20-day moving average crossing at $51.29. Second support is the 50-day moving average crossing at $47.87.
March heating oil 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 bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $155.60 would signal that a short-term top has been posted. If March renews the rally off November's low, the 50% retracement level of the 2018-2020-decline crossing at $168.80 is the next upside target. First resistance is January's high crossing at $162.46. Second resistance is the 50% retracement level of the 2018-2020-decline crossing at $168.43. First support is the 20-day moving average crossing at $155.60. Second support is the 50-day moving average crossing at $145.91.
March unleaded gas was higher overnight and is poised to breakout to the topside of the trading range of the past three-weeks. 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 March resumes the rally off November's low, the 75% retracement level of the 2018-2020-decline crossing at $170.66 is the next upside target. Closes below the 20-day moving average crossing at $149.44 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at $158.10. Second resistance is the 75% retracement level of the 2018-2020-decline crossing at $170.66. First support is the 20-day moving average crossing at $149.44. Second support is the 50-day moving average crossing at $136.86.
March Henry natural gas was higher due to short covering overnight as it consolidates some of the decline off the January 12th high. 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 2.642 would signal that a short-term low has been posted. If March resumes the aforementioned decline, December's low crossing at 2.268 is the next downside target. First resistance resistance is the January 12th high crossing at 2.835. Second resistance is the November 30th high crossing at 2.910. First support is last-Friday's low crossing at 2.425. Second support is the December 28thlow crossing at 2.268.
CURRENCIEShttp://quotes.ino.com/ex changes/?c=currencies"
CURRENCIES:The March Dollar was steady to slightly higher in overnight trading. 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 bearish signaling that sideways to lower prices are possible near-term. Multiple closes below the 20-day moving average crossing at $90.12 would temper this month's rally. Closes above the January 18th highcrossing at $90.94 would open the door for a possible test of the November 30th reaction high crossing at $91.96. First resistance is the January 18th high crossing at $90.94. Second resistance is the November 30th high crossing at $91.96. First support is the 20-day moving average crossing at $90.12. Second support is the January 6th low crossing at $89.16.
The March Euro 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 bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at $122.15 would signal that a short-term low has been posted. Closes below the January 19th low crossing at $120.68 would open the door for additional weakness near-term. First resistance is January's high crossing at $123.68. Second resistance is the 62% retracement level of the 2018-2020-decline crossing at $125.38. First support is the January 19th low crossing at $120.68. Second support is the November 23rd low crossing at $118.33.
The March British Pound was steady to slightly higher overnight. The high-range overnight trade sets the stage for a steady to higher opening when the day session beings 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, the February-2019 high crossing at 1.3728 is the next upside target. Closes below the 50-day moving average crossing at 1.3474 would confirm that a short-term top has been posted while opening the door for additional weakness near-term. First resistance is last-Thursday's high crossing at 1.3750. Second resistance is the February-2019 high crossing at 1.3728. First support is the 50-day moving average crossing at 1.3474. Second support is the December 21st low crossing at 1.3200.
The March Swiss Franc was steady to slightly lower overnight as it extends the trading range of the past three-weeks. The high-range overnight 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 bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 1.1230 would confirm that a short-term top has been posted while opening the door for additional weakness near-term. If March renews the rally off November's low, the 75% retracement level of the 2018-2020-decline crossing at 1.1540 is the next upside target. First resistance is January's high crossing at 1.1441. Second resistance is the 75% retracement level of the 2018-2020-decline crossing at 1.1540. First support is the 50-day moving average crossing at 1.1230. Second support is the November 30th low crossing at 1.1036.
The March Canadian Dollar was steady to 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 neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at $77.95 would confirm that a short-term top has been posted. If March renews this winter's rally, the 87% retracement level of the 2018-2020-decline crossing at $80.50 is the next upside target. First resistance is last-Wednesday's high crossing at $79.35. Second resistance is the 87% retracement level of the 2018-2020-decline crossing at $80.50. First support is the 50-day moving average crossing at $77.95. Second support is the December 21st low crossing at $77.21.
The March Japanese Yen was steady to 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 March renews the decline off January's high, December's low crossing at 1.0956 is the next downside target. Multiple closes above the 20-day moving average crossing at 0.0966 would signal that a short-term low has been posted while opening the door for additional short covering gains off this month's low. First resistance is January's high crossing at 0.0975. Second resistance is the 87% retracement level of the February-March rally crossing at 0.0981. First support is December's low crossing at 0.0956. Second support is the November's low crossing at 0.0948.
PRECIOUS METALS http://quotes.ino.com/ex changes/?c=metals"
PRECIOUS METALS: April gold was steady to slightly 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 turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes above the 20-day moving average crossing at $1879.20 would confirm that a short-term low has been posted. If April renews the decline off January's high, November's low crossing at $1771.30 is the next downside target. First resistance is the 20-day moving average crossing at$1879.20. Second resistance is January's high crossing at $1966.80. First support is last-Tuesday's low crossing at $1804.70. Second support is November's low crossing at $1771.30.
March silver was was 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 bearish signaling that sideways to lower prices are possible near-term. Closes below last-Tuesday's low crossing at $24.040 would open the door for additional weakness near-term. Closes above the 20-day moving average crossing at $26.062 are needed to signal that a short-term low has been posted. First resistance is January's high crossing at $28.105. Second resistance is September's high crossing at $29.380. First support is last-Tuesday's low crossing at $24.040. Second support is November's low crossing at $21.960.
March copper was steady to slightly lower overnight while extending the December-January trading range. The mid-range overnight 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 bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 3.5083 would confirm that a short-term top has been posted. If March renews the rally off October's low, the February-2013 high on the monthly continuation chart crossing at 3.7925 is the next upside target. First resistance is the January 8th high crossing at 3.7340. Second resistance is the February-2013 high on the monthly chart crossing at 3.7925. First support is the 50-day moving average crossing at 3.5083. Second support is the December 23rd low crossing at 3.4780.
GRAINS http://quotes.ino.com/ex changes/?c=grains
March corn was higher overnight as it extends Monday's upside reversal that signals the decline off January's high appears to have come to an end. The high-range close sets the stage for a steady to higher opening when the day sessions begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $5.02 1/4 would signal that a short-term top has been posted. If March renews the rally off April's low, the 50% retracement level of the 2012-2019-decline on the monthly continuation chart crossing at $5.72 1/4 is the next upside target. First resistance is January's high crossing at $5.41 1/2. Second resistance is the 50% retracement level of the 2012-2019-decline on the monthly continuation chart crossing at $5.72 1/4. First support is the 20-day moving average crossing at $5.02 1/4. Second support is the 50-day moving average crossing at $4.58.
March wheat was steady to fractionally lower in late-overnight trading. The high-range close sets the stage for a steady to fractionally lower opening when the day session begins trading. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends this month's decline, the 50-day moving average crossing at $6.19 1/4 is the next downside target. Closes above the 10-day moving average crossing at $6.60 would confirm that a short-term low has been posted. First resistance is January's high crossing at $6.93. Second resistance is the 62% retracement level of the 2012-2016-decline on the monthly continuation chart crossing at $7.34 1/4. First support is the 50-day moving average crossing at $6.19 1/4. Second support is the December 28th low crossing at $6.07.
March Kansas City wheat was higher due to short covering overnight as it consolidates some of the decline off January's high. The high-range close 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 March renews the rally off August's low, the December-2014 high on the monthly continuation chart crossing at $7.05 3/4 is the next upside target. Closes below the 20-day moving average crossing at $6.14 would confirm that a short-term top has been posted. First resistance is January's high crossing at $6.60. Second resistance is the December-2014 high crossing at $7.05 3/4. First support is the 20-day moving average crossing at $6.14. Second support is the 50-day moving average crossing at $5.82 1/4.
March Minneapolis wheat was steady to fractionally lower in late-overnight trading. The mid-range close sets the stage for a steady to slightly lower opening when the day session begins trading. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at crossing at $6.14 3/4 would signal that a short-term top has been posted. If March renews the rally off December's low, the November-2017 high on the monthly continuation chart crossing at $6.58 is the next upside target. First resistance is January's high crossing at $6.53 1/2. Second resistance is the November-2017 high on the monthly continuation chart crossing at $6.58. First support is the 20-day moving average crossing at crossing at $6.14 3/4. Second support is January's low crossing at $5.93 1/4.
SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains "
March soybeans were higher overnight as they extends the rally off Monday's low. The high-range close 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 March extends the decline off January's high, the 25% retracement level of the April-January rally crossing at $12.83 1/2 is the next downside target. Closes above the 10-day moving average crossing at $13.80 1/2 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at $13.54 3/4. Second resistance is the 10-day moving average crossing at $13.80 1/2. First support is Monday's low crossing at $12.98. Second support is the 25% retracement level of the March-January rally crossing at $12.83 1/2.
March soybean meal was higher overnight as it consolidates some of the decline off the January 13th high. 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 March extends this month's decline the 50-day moving average crossing at $410.60 is the next downside target. Closes above the 10-day moving average crossing at $446.40 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $446.40. Second resistance is January's high crossing at $471.40. First support is the 50-day moving average crossing at $410.60. Second support is the 38% retracement level of the August-January rally crossing at $401.40.
March soybean oil was steady to higher 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. If March resumes the rally off October's low, the March 2014 high on the monthly continuation chart crossing at 45.05 is the next upside target. If March resumes the decline off January's high, the 50-day moving average crossing at 39.96 is the next downside target. First resistance is January's high crossing at 44.69. Second resistance is the March 2014 high on the monthly continuation chart crossing at 45.05. First support is last-Tuesday's low crossing at 41.01. Second support is the 50-day moving average crossing at 39.96.
LIVESTOCKhttp://quotes.ino.com/exchanges/?c=livestock
April hogs closed up $0.48 at $76.63.
April hogs closed higher on Monday as it extends the rally off November's low. The high-range close sets the stage for a steady to higher opening when Tuesday'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 April extends the aforementioned rally, the November 4th 2019 high crossing at $77.10 is the next upside target. Closes below the 20-day moving average crossing at 72.94 would signal that a short-term top has been posted. First resistance is today's high crossing at 76.85. Second resistance is the November 4th 2019 high crossing at $77.10. First support is the 20-day moving average crossing at $72.94. Second support is the 50-day moving average crossing at $70.92.
April cattle closed up $0.43 at $122.95
April cattle closed higher on Monday as it extends the rally off October's low. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible. If April extends this month's rally, the January-2020 high crossing at $124.50 is the next upside target. Closes below the 50-day moving average crossing at $117.71 would signal that a short-term top has been posted. First resistance is today's high crossing at $123.40. Second resistance is the January-2020 high crossing at $124.50. First support is the 20-day moving average crossing at $119.02. Second support is the 50-day moving average crossing at $117.71.
March Feeder cattle closed down $0.30 at $143.85.
March Feeder cattle closed lower on Monday as it consolidated some of the rally off October's low. The high-range close sets the stage for a steady to lower opening when Tuesday'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 this month's rally, the August-2020 high crossing at $145.30 is the next upside target. Closes below the 10-day moving average crossing at $137.57 would confirm that a short-term top has been posted. First resistance is today's high crossing at $144.85. Second resistance is the August-2020 high crossing at $145.30. First support is the 20-day moving average crossing at $138.32. Second support is the 10-day moving average crossing at $137.57.
FOOD & FIBERhttp://quotes.ino.com/ex changes/?c=food
March coffee closed lower on Monday. The low-range close sets the stage for a steady to lower opening on Tuesday. 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 12.20 would confirm that a short-term top has been posted. If March renews the rally off November's low, September's high crossing at 13.57 is the next upside target.
March cocoa closed lower on Monday. The high-range close sets the stage for a steady to slightly lower opening on Tuesday. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. If March renews the decline off November's high, the November 16th gap crossing at 23.95. Closes above the January 4th high crossing at 26.61 would signal that a short-term low has been posted.
March sugar closed lower on Monday as it extends the decline off January's high. The low-range close set the stage for a steady to lower opening on Tuesday. 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 15.76 would confirm that a short-term top has been posted. If March renews the rally off December's low, weekly resistance crossing at 17.23 is the next upside target.
March cotton 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 bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 79.93 would confirm that a short-term top has been posted. If March extends the rally off April's low, monthly resistance crossing at 84.47 is the next upside target.
Thanks much tallpine!
Natural gas:
https://www.marketforum.com/forum/topic/63970/
South America:
https://www.marketforum.com/forum/topic/62048/
Exports: