INO Morning Market Commentary
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Started by tallpine - March 11, 2021, 7:32 a.m.

KEY EVENTS TO WATCH FOR:

 



 

 

Thursday, March 11, 2021  

 



 

 

8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims

 



 

 

                       Jobless Claims (previous 745K)

 



 

 

                       Jobless Claims, Net Chg (previous +9K)

 



 

 

                       Continuing Claims (previous 4295000)

 



 

 

                       Continuing Claims, Net Chg (previous -124K)

 



 

 

8:30 PM ET. U.S. Weekly Export Sales

 



 

 

                       Corn (Metric Tons) (previous 154.5K)

 



 

 

                       Soybeans (Metric Tons) (previous 533.4K)

 



 

 

                       Wheat (Metric Tons) (previous 242.7K)

 



 

 

9:45 AM ET. Bloomberg Consumer Comfort Index

 



 

 

10:00 AM ET. January Job Openings & Labor Turnover Survey

 



 

 

10:30 AM ET. EIA Weekly Natural Gas Storage Report

 



 

 

                       Working Gas In Storage (Cbf) (previous 1845B)

 



 

 

                       Working Gas In Storage, Net Chg (Cbf) (previous -98B)

 

                        

 

4:30 PM ET. Federal Discount Window Borrowings

 



 

 

4:30 PM ET. Foreign Central Bank Holdings

 



 

 

  N/A               SEC Investor Advisory Committee Quarterly Meeting

 



 

 

Friday, March 12, 2021  

 



 

 

8:30 AM ET. February PPI

 



 

 

                       PPI, M/M% (previous +1.3%)

 



 

 

                       Ex-Food & Energy PPI, M/M% (previous +1.2%)

 



 

 

                       Personal Consumption (previous +1.3%)

 



 

 

10:00 AM ET. 4th Quarter Quarterly Services

 



 

 

10:00 AM ET. March University of Michigan Survey of Consumers – preliminary

 



 

 

                       Mid-Mo Sentiment (previous 76.2)

 



 

 

                       Mid-Mo Expectations (previous 69.8)

 



 

 

                       Mid-Mo Current Idx (previous 86.2)

 



 

 

Monday, March 15, 2021  

 



 

 

8:30 AM ET. March Empire State Manufacturing Survey

 



 

 

                       Mfg Idx (previous 12.1)

 



 

 

                       Employment Idx (previous 12.1)

 



 

 

                       New Orders Idx (previous 10.8)

 



 

 

                       Prices Received (previous 23.4)

 



 

 

10:00 AM ET. January State Employment and Unemployment

 



 

 

4:00 PM ET. January Treasury International Capital Data

 



 

 

Tuesday, March 16, 2021  

 



 

 

7:45 AM ET. Weekly Chain Store Sales Index

 



 

 

8:30 AM ET. February Advance Monthly Sales for Retail & Food Services

 



 

 

                       Overall Sales-SA, M/M% (previous +5.3%)

 



 

 

                       Sales, Ex-Auto, M/M% (previous +5.9%)

 



 

 

                       Sales, Ex-Auto & Gas, M/M% (previous +6.1%)

 



 

 

8:30 AM ET. February Import & Export Price Indexes

 



 

 

                       Import Prices (previous +1.4%)

 



 

 

                       Non-Petroleum Prices (previous +0.9%)

 



 

 

                       Petroleum Prices (previous +8.3%)

 



 

 

8:55 AM ET. Johnson Redbook Retail Sales Index

 



 

 

                       Ret Sales Mo-to-Date, M/M%

 



 

 

                       Ret Sales Mo-to-Date, Y/Y%

 



 

 

                       Latest Wk, Y/Y%

 



 

 

9:15 AM ET. February Industrial Production & Capacity Utilization

 



 

 

                       Industrial Production, M/M% (previous +0.9%)

 



 

 

                       Capacity Utilization % (previous 75.6%)

 



 

 

                       Capacity Utilization, Net Chg (Pts) (previous +0.7)

 



 

 

10:00 AM ET. March NAHB Housing Market Index

 



 

 

                       Housing Mkt Idx (previous 84)

 



 

 

10:00 AM ET. January Manufacturing & Trade: Inventories & Sales

 



 

 

                       Total Inventories (previous +0.6%)

 



 

 

4:30 PM ET. API Weekly Statistical Bulletin

 



 

 

                       Crude Stocks, Net Chg (Bbls)

 



 

 

                       Gasoline Stocks, Net Chg (Bbls)

 



 

 

                       Distillate Stocks, Net Chg (Bbls)

 



 

 

  N/A               U.S. Federal Open Market Committee meeting

 


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



The STOCK INDEXES: The June NASDAQ 100 was higher overnight as it extends the rally off last-Friday'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 neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 13,131.63 would signal that a short-term low has been posted. If June renews the decline off February's high, the 25% retracement level of the March-February-rally crossing at 12,146.81 is the next downside target. First resistance is the 50-day moving average crossing at 13,131.63. Second resistance is the February 25th high crossing at 13,337.50. First support is last-Friday's low crossing at 12,200.00. Second support is the 25% retracement level of the March-February-rally crossing at 12,146.81.



The June S&P 500 was higher overnight as it extends the rally off last-Thursday's low. 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 June extends the rally off last-Thursday's low, February's high crossing at 3947.75 is the next upside target. Closes below the 50-day moving average crossing at 3820.40 are needed to confirm that a short-term top has been posted. First resistance is the February 25th high crossing at 3924.50. Second resistance is February's high crossing at 3947.75. First support is last-Thursday's low crossing at 3710.50. Second support is February's low crossing at 3648.00. 



INTEREST RATES http://quotes.ino.com/ex changes/?c=interest"



INTEREST RATES: June T-bonds were higher overnight as it extends the short covering rebound off last-Friday's low. The mid-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 160-03 would signal that a short-term low has been posted. If June extends the decline off September's high, monthly support crossing at 155-05 is the next downside target. First resistance is the 20-day moving average crossing at 160-03. Second resistance is the 50-day moving average crossing at 164-22. First support is last-Friday's low crossing at 155-27. Second support is long-term support on the monthly continuation chart crossing at 155-05.



June T-notes were higher overnight as it extends the rebound off last-Friday's low. The high-range overnight trade sets the stage for a steady to higher opening with 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 20-day moving average crossing at 133.188 are needed to confirm that a short-term low has been posted. If June extends this year's decline the February-2020 low on the weekly continuation chart crossing at 130.070 is the next downside target. First resistance is the 20-day moving average crossing at 133.189. Second resistance is the February 24th high crossing at 134.200. First support is last-Friday's low crossing at 131.236. Second support is the February-2020 low on the weekly continuation chart crossing at 130.070. 



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



April crude oil was higher in late-overnight trading. The mid-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. If April extends the rally off November's low, the October-2018 high on the monthly continuation chart crossing at $76.90 is the next upside target. Closes below last-Wednesday's low crossing at $59.24 are needed to confirm that a short-term top has been posted. First resistance is Monday's high crossing at $67.98. Second resistance is the October-2018 high on the monthly continuation chart crossing at $76.90. First support is last-Wednesday's low crossing at $59.24. Second support is the February 12th low crossing at $57.31.    



April heating oil 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 have turned neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at $185.36 would confirm that a short-term top has been posted while opening the door for additional weakness near-term. If April resumes the rally off November's low, the 75% retracement level of the 2018-2020-decline crossing at $200.04 is the next upside target. First resistance is Monday's high crossing at $198.68. Second resistance is the 75% retracement level of the 2018-2020-decline crossing at $200.04. First support is the 20-day moving average crossing at $185.36. Second support is the February 12th low crossing at $171.81.



April unleaded gas was higher overnight and is poised to resume the rally off November'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 April extends the rally off November's low, the October 8th 2018 high crossing at $221.41 is the next upside target. Closes below the 20-day moving average crossing at $195.35 would confirm that a short-term top has been posted. First resistance is Monday's high crossing at $211.19. Second resistance is the October 8th 2018 high crossing at $221.41. First support is the 20-day moving average crossing at $195.35. Second support is the February 12th low crossing at $175.76.



April Henry natural gas was higher overnight as it consolidates some of the decline off February'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 April extends the decline off February's high, the 62% retracement level of the December-February-rally crossing at 2.596 is the next downside target. Closes above the 20-day moving average crossing at 2.821 would signal that a short-term low has been posted. First resistance resistance is the 10-day moving average crossing at 2.737. Second resistance is the 20-day moving average crossing at 2.821. First support is the 62% retracement level of the December-February-rally crossing at 2.596. Second support is the 75% retracement level of the December-February rally crossing at 2.496.  



CURRENCIEShttp://quotes.ino.com/ex changes/?c=currencies"



CURRENCIES:The June Dollar was lower overnight as it extends the decline off Tuesday's high. 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 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 $90.88 would signal that a short-term top has been posted. If June extends the rally off February's low, the 50% retracement level of the September-January-decline crossing at $93.43 is the next upside target. First resistance is the 38% retracement level of the 2020-2021-decline crossing at $92.42. Second resistance is the 50% retracement level of the 2020-2021-decline crossing at $93.43. First support is the 10-day moving average crossing at $91.49. Second support is the 20-day moving average crossing at $90.92.



The June Euro was higher due to short covering overnight as it consolidated some of the decline off February'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 and are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at $120.80 would signal that a short-term low has been posted. If June extends the decline off February's high, the 38% retracement level of the 2020-2021-rally crossing at $117.85 is the next downside target. First resistance is the 10-day moving average crossing at $120.06. Second resistance is the 20-day moving average crossing at $120.80. First support is Tuesday's low crossing at $118.61. Second support is the 38% retracement level of the November-January-rally crossing at $117.85.

 

The June British Pound was higher overnight as it extends the rebound off last-Friday's low. 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 1.3951 would confirm that a short-term low has been posted. If June resumes the decline off February's high, the 50-day moving average crossing at 1.3781 is the next downside target. First resistance is the 20-day moving average crossing at 1.3951. Second resistance is last-Thursday's high crossing at 1.4020. First support is the 50-day moving average crossing at 1.3781. Second support is February's low crossing at 1.3568.  



The June Swiss Franc was higher overnight as it extends the short covering rebound off Tuesday'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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 10-day moving average crossing at 1.0857 are needed to confirm that a short-term low has been posted. If June extends the decline off January's high, the 75% retracement level of the 2020-2021-rally crossing at 1.0586 is the next downside target. First resistance is the 10-day moving average crossing at 1.0857. Second resistance is the 20-day moving average crossing at 1.1014. First support is Tuesday's low crossing at 1.0695. Second support is the 75% retracement level of the 2020-2021-rally crossing at 1.0586.

 

The June Canadian Dollar was higher overnight as it extends the rebound off the February 26th low crossing at $78.42. 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 bullish signaling that sideways to higher prices are possible near-term. If June resumes the rally off February's low, the 87% retracement level of the 2018-2020-decline crossing at $80.52 is the next upside target. Closes below the February 26th low crossing at $78.42 would confirm a downside breakout of the March's trading range while opening the door for additional weakness near-term. First resistance is February's high crossing at $80.21. Second resistance is the 87% retracement level of the 2018-2020-decline crossing at $80.52. First support is the February 26th low crossing at $78.42. Second support is January's low crossing at  $77.65.  



The June Japanese Yen was lower overnight as it consolidates above the 87% retracement level of the 2020-2021-decline crossing at 0.0920. 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 June extends the decline off January's high, the March-2020 low crossing at 0.0911 is the next downside target. Closes above the 20-day moving average crossing at 0.0939 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 0.0929. Second resistance is the 20-day moving average crossing at 0.0939. First support is Tuesday's low crossing at 0.0916. Second support is the March-2020 low crossing at 0.0911.

 

PRECIOUS METALS http://quotes.ino.com/ex changes/?c=metals"



PRECIOUS METALS: April gold was higher overnight as it extends the rally off Monday's low. The mid-range overnight trade sets the stage for a steady to higher opening when the day 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 $1755.50 would signal that a short-term low has been posted. If April extends the decline off January's high, the 62% retracement level of the 2019-2020-rally crossing at $1634.70. is the next downside target. First resistance is the 20-day moving average crossing at $1755.50. Second resistance is 50-day moving average crossing at $1819.50. First support is the 62% retracement level of the 2019-2020-rally crossing at $1634.70. Second support is the 75% retracement level of the 2019-2020-rally crossing at $1533.30.



May silver was higher overnight as it extends the rebound off last-Friday's low. 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 have turned neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at $26.806 would signal that a short-term low has been posted. If May resumes the decline off January's high, the 75% retracement level of the November-February-rally crossing at $24.059 is the next downside target. First resistance is the 20-day moving average crossing at $26.806. Second resistance is the February 23rd high crossing at $28.470. First support is the 62% retracement level of the November-February-rally crossing at $25.111. Second support is the 75% retracement level of the November-February-rally crossing at $24.059.  



May copper 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 neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below last-Thursday's low  crossing at 3.8490 would confirm that a short-term top has been posted. If May renews the rally off October's low, the August-2011 high on the monthly continuation chart crossing at 4.5400 is the next upside target. First resistance is February's high crossing at 4.3755. Second resistance is the August-2011 high on the monthly continuation chart crossing at 4.5400. First support is last-Thursday's low crossing at 3.8490. Second support is the 50-day moving average crossing at 3.7891.   



GRAINS http://quotes.ino.com/ex changes/?c=grains



May corn was higher overnight as it consolidates some of Wednesday's decline while at the same time extending the trading range of the past six-weeks. The mid-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. If May extends the decline off February's high, the February 11th low crossing at $5.23 1/4 is the next downside target. If May renews the rally off last-August's low, February's high crossing at $5.72 is the next upside target. First resistance is February's high crossing at $5.72. Second resistance is the 62% retracement level of the 2012-2019-decline on the monthly continuation chart crossing at $6.36. First support is the February 11th low crossing at $5.23 1/4. Second support is the the 25% retracement level of the August-February-rally crossing at $5.14.      



May wheat was lower overnight. The low-range close 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 May extends the decline off February's high, February's low crossing at $6.28 1/2 is the next downside target. Closes above the 20-day moving average crossing at $6.57 1/2 would signal that a short-term low has been posted. First resistance is February's high crossing at $6.88 1/2. Second resistance is January's high crossing at $6.93. First support is February's low crossing at $6.28 1/2. Second support is January's low crossing at $6.26.

 

May Kansas City wheat was lower overnight as it extends the decline off February's high. The low-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. Closes below February's low crossing at $6.08 1/4 would confirm a downside breakout of the January-March-trading range. Closes above the 20-day moving average crossing at $6.32 1/4 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at $6.32 1/4. Second resistance is February's high crossing at $6.64. First support is February's low crossing at $6.08 1/4. Second support is the 38% retracement level of the August-March-rally crossing at $5.79.



May Minneapolis wheat was lower overnight. The low-range close 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 $6.34 1/4 would open the door for a larger-degree decline near-term. If May resumes the rally off February's low, January's high crossing at $6.62 is the next upside target. First resistance is February's high crossing at $6.58 3/4. Second resistance is January's high crossing at $6.62. First support is the 50-day moving average crossing at $6.34 1/4. Second support is the 38% retracement level of the December-January-rally crossing at $6.19 3/4.       

     

SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains



May soybeans was steady to slightly higher overnight as it tries to consolidate some of Wednesday's sharp decline.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. Closes below the 20-day moving average crossing at $14.02 1/4 would signal that a short-term top has been posted while opening the door for additional weakness near-term. If May extends the rally off last-August's low, psychological resistance crossing at $15.00 is the next upside target. First resistance is Monday's high crossing at $14.60. Second resistance is psychological resistance crossing at $15.00. First support is the 20-day moving average crossing at $14.02 1/4. Second support is the 50-day moving average crossing at $13.78.

 

May soybean meal was steady to lower overnight as it extends Wednesday's decline, which marked a downside breakout of the lower boundary of the trading range of the past seven-weeks crossing at $413.40. 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 sideways to lower prices are possible near-term. If May extends the aforementioned decline, the 38% retracement level of August-January rally crossing at $396.90 is the next downside target. Closes above the 50-day moving average crossing at $428.90 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at $428.90. Second resistance is the February 9th high crossing at $442.10. First support is the overnight low crossing at $405.00. Second support is the 38% retracement level of the August-January rally crossing at $396.90.       


May soybean oil was higher overnight as it extends the rally off last-April'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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends the rally off October's low, the September-2012 high on the monthly continuation chart crossing at 58.14 is the next upside target. Closes below the 20-day moving average crossing at 49.30 would signal that a short-term top has been posted. First resistance is the overnight high crossing at 53.84. Second resistance is the September-2012 high on the monthly continuation chart crossing at 58.14. First support is the 10-day moving average crossing at 51.44. Second support is the 20-day moving average crossing at 49.30.      


LIVESTOCKhttp://quotes.ino.com/exchanges/?c=livestock 



April hogs closed up $0.43 at $88.78. 



April hogs closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. If April renews the rally off November's low, the 87% retracement level of the 2019-2020-decline on the weekly continuation chart crossing at $92.25 is the next upside target. Closes below the 20-day moving average crossing at $86.48 would signal that a short-term top has been posted. First resistance is February's high crossing at $90.68. Second resistance is the 87% retracement level of the 2019-2020-decline on the weekly continuation chart crossing at $92.25. First support is the 20-day moving average crossing at $86.48. Second support is the February 18th low crossing at $83.62. 



April cattle closed down $0.88 at $118.78 



April cattle closed lower on Wednesday as it extends the trading range of the past two-weeks. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible. If April extends the decline off February's high, the 50% retracement level of the October-February-rally crossing at $117.72 is the next downside target. Closes above the 20-day moving average crossing at $121.45 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at $121.45. Second resistance is February's high crossing at $126.70. First support is last-Thursday's low crossing at $118.50. Second support is the 50% retracement level of the October-February-rally crossing at $117.72. 



April Feeder cattle closed down $0.35 at $141.72. 


April Feeder cattle closed lower on Wednesday as it consolidated some of the rally off last-Friday's low. The mid-range close sets the stage for a steady to lower opening when Thursday's 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 142.31 would confirm that a short-term low has been posted. If April resumes the decline off January's high, January's low crossing at $135.03 is the next downside target. First resistance is the 20-day moving average crossing at 142.31. Second resistance is February's high crossing at $145.80. First support last-Friday's low crossing at $137.22. Second support is January's low crossing at $135.03.          



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



May coffee closed higher on Wednesday following yesterday's key reversal up as it consolidated some of the decline off February's high. The mid-range close sets the stage for a steady to higher opening on Thursday. 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 12.84 would open the door for a possible test of February's low crossing at 12.21. If Closes above the 10-day moving average crossing at 13.32 would signal that a short-term low has been posted.         



May cocoa closed higher on Wednesday as it consolidated some of the decline off last-Wednesday's high. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 10-day moving average crossing at 25.96 would temper the near-term bearish outlook. If May extends the decline off last-Wednesday's high, the 50-day moving average crossing at 24.96 is the next downside target.           



May sugar posted an inside day with a slightly higher close on Wednesday. The low-range close set the stage for a steady to lower opening on Thursday. Stochastics and the RSI are oversold but remain  neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends the decline off February's high, the 50-day moving average crossing at 15.60 is the next downside target. Closes above the 20-day moving average crossing at 16.36 would temper the near-term bearish outlook.     



May cotton closed higher on Wednesday as it consolidated some of the decline off February's high. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. Multiple closes above the 50-day moving average crossing at 84.77 would open the door for a possible test of February's low crossing at 81.06 is the next downside target. Closes above the 20-day moving average crossing at 89.20 would signal that a short-term low has been posted.      

Comments
By metmike - March 11, 2021, 11:37 a.m.
Like Reply

Thanks tallpine!!


South America weather(wetter in Central Brazil-too wet)

Beans close the huge gap higher from Sunday Night.............the bull may be getting worn out?

https://www.marketforum.com/forum/topic/62048/


Sunday Night pre open.............grains all close the big gaps higher from the open. Wheat puts in 

a reversal lower.  Gap and crap technical formation is a buying exhaustion signal.

https://www.marketforum.com/forum/topic/66335/


Natural Gas can't go lower on bearish weather! EIA was bearish on Thursday/this morning.

https://www.marketforum.com/forum/topic/66348/


Exports:

https://www.marketforum.com/forum/topic/66151/

This week:

https://www.marketforum.com/forum/topic/66407/    great for corn.


USDA....a bit bearish Tuesday..... Conab on Thursday a bit bearish

https://www.marketforum.com/forum/topic/66245/


Gold

https://www.marketforum.com/forum/topic/66330/


Corn and Soybean discussion: Are the highs in??? Big precip in drought/dry spots is bearish, especially wheat on Thursday

https://www.marketforum.com/forum/topic/66305/


Stock market top?

https://www.marketforum.com/forum/topic/66331/

                                    


   

                US Growing season forecast            

                            14 responses |                            

                Started by metmike - March 7, 2021, 9:07 p.m.          


  https://www.marketforum.com/forum/topic/66372/