INO Evening Market Comments
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Started by tallpine - March 30, 2021, 4:47 p.m.

KEY EVENTS TO WATCH FOR:



Wednesday, March 31, 2021



7:00 AM ET. MBA Weekly Mortgage Applications Survey



                       Composite Idx (previous 747)



                       Composite Idx, W/W% (previous -2.5%)



                       Purchase Idx-SA (previous 301.9)



                       Purchase Idx-SA, W/W% (previous +2.6%)



                       Refinance Idx (previous 3325.3)



                       Refinance Idx, W/W% (previous -5.1%)



8:15 AM ET. March ADP National Employment Report



                       Private Sector Jobs, Net Chg (expected +560K; previous +117000)



8:30 AM ET. 4th Quarter U.S. International Investment Position



9:00 AM ET. G24 Deputies Meeting (virtual)



9:45 AM ET. March Chicago Business Barometer - ISM-Chicago Business Survey - Chicago PMI



                       PMI-Adj (expected 60.0; previous 59.5)



10:00 AM ET. February Pending Home Sales Index



                       Pending Home Sales (previous 122.8)



                       Pending Home Sales Idx, M/M% (expected -3.0%; previous -2.8%)



                       Pending Home Sales Idx , Y/Y% (previous +13.0%)



10:30 AM ET. EIA Weekly Petroleum Status Report



                       Crude Oil Stocks (Bbl) (previous 502.711M)



                       Crude Oil Stocks, Net Chg (Bbl) (previous +1.912M)



                       Gasoline Stocks (Bbl) (previous 232.279M)



                       Gasoline Stocks, Net Chg (Bbl) (previous +0.204M)



                       Distillate Stocks (Bbl) (previous 141.553M)



                       Distillate Stocks, Net Chg (Bbl) (previous +3.806M)



                       Refinery Usage (previous 81.6%)



                       Total Prod Supplied (Bbl/day) (previous 18.702M)



                       Total Prod Supplied, Net Chg (Bbl/day) (previous -0.231M)

                       

3:00 PM ET. February Agricultural Prices



                       Farm Prices, M/M% (previous -1.4%)



Thursday, April 1, 2021 



7:30 AM ET. March Challenger Job-Cut Report



                       Job Cuts, M/M% (previous -57%)



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



                       Jobless Claims (expected 670K; previous 684K)



                       Jobless Claims, Net Chg (previous -97K)



                       Continuing Claims (previous 3870000)



                       Continuing Claims, Net Chg (previous -264K)



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



                       Corn (Metric Tons) (previous 4626.5K)



                       Soybeans (Metric Tons) (previous 166.8K)



                       Wheat (Metric Tons) (previous 414.1K)



9:00 AM ET. IMF Fiscal Monitor analytical chapter launch (virtual)



9:45 AM ET. Bloomberg Consumer Comfort Index



9:45 AM ET. March US Manufacturing PMI



                       PMI, Mfg (expected 59.2; previous 58.6)



10:00 AM ET. March ISM Report On Business Manufacturing PMI



                       Manufacturing PMI (expected 61.6; previous 60.8)



                       Prices Idx (previous 86.0)



                       Employment Idx (previous 54.4)



                       Inventories (previous 49.7)



                       New Orders Idx (previous 64.8)



                       Production Idx (previous 63.2)



10:00 AM ET. February Construction Spending - Construction Put in Place



                       New Construction (expected -1.1%; previous +1.7%)



                       Residential Construction



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



                       Working Gas In Storage (Cbf) (previous 1746B)



                       Working Gas In Storage, Net Chg (Cbf) (previous -36B)

                       

11:00 AM ET. March Global Manufacturing PMI



                       PMI, Mfg (previous 53.9)



4:00 PM ET. March Domestic Auto Industry Sales



4:30 PM ET. Foreign Central Bank Holdings



4:30 PM ET. Federal Discount Window Borrowings



Friday, April 2, 2021 



8:30 AM ET. March U.S. Employment Report



                       Non-Farm Payrolls (expected +630K; previous +379K)



                       Unemployment Rate (expected 6.0%; previous 6.2%)



                       Avg Hourly Earnings (USD) (previous 30.01)



                       Avg Hourly Earnings-Net Chg (USD) (previous +0.07)



                       Avg Hourly Earnings, M/M% (expected +0.2%; previous +0.23%)



                       Avg Hourly Earnings, Y/Y% (expected +4.6%; previous +5.26%)



                       Overall Workweek (previous 34.6)



                       Overall Workweek Net Chg (previous -0.3)



                       Government Payrolls (previous -86K)



                       Private Payroll (previous +465K)



                       Participation Rate (previous 61.4%)



                       Non-Farm Payrolls Bench Net Chg



  N/A              U.S. stock markets closed on Good Friday



  N/A              Marianas: Good Friday



Monday, April 5, 2021 



9:00 AM ET. G24 Ministers and Governors Meeting (virtual)



9:45 AM ET. March ISM-NY Report on Business



                       Business Index (previous 35.5)



9:45 AM ET. March US Services PMI



                       PMI, Services (previous 59.8)



10:00 AM ET. March ISM Report On Business Services PMI



                       Non-Mfg Composite Idx (previous 55.3)



                       Non-Mfg Business Idx (previous 55.5)



                       Prices Idx (previous 71.8)



                       Employment Idx (previous 52.7)



                       New Orders Idx (previous 51.9)



10:00 AM ET. March Employment Trends Index



                       ETI (previous 101.01)



                       ETI, Y/Y%



10:00 AM ET. February Manufacturers' Shipments, Inventories & Orders (M3)



                       Total Orders, M/M% (previous +2.6%)



                       Orders, Ex-Defense, M/M% (previous +2.1%)



                       Orders, Ex-Transport, M/M% (previous +1.7%)



                       Durable Goods, M/M%



                       Durable Goods, M/M%



Tuesday, April 6, 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%



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



                       Latest Wk, Y/Y%



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



10:00 AM ET. April IBD/TIPP Economic Optimism Index



                       Economic Optimism Idx (previous 55.4)



                       6-Mo Economic Outlook (previous 53.2)



4:30 AM ET. API Weekly Statistical Bulletin



                       Crude Stocks, Net Chg (Bbls)



                       Gasoline Stocks, Net Chg (Bbls)



                       Distillate Stocks, Net Chg (Bbls)



  N/A              IMF World Economic Outlook forecast chapters published



  N/A              IMF Global Financial Stability Report main chapters published


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



The Dow closed lower on Tuesday as it consolidated some of rally off last-Thursday'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 becoming overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If the Dow extends the rally off January's low into uncharted territory, upside targets hard to project. Closes below last-Thursday's low crossing at 32,071.41 would signal that a short-term top has been posted. First resistance is Monday's high crossing at 33,259.00. Second resistance is unknown. First support is last-Thursday's low crossing at 32,071.41. Second support is the 50-day moving average crossing at 31,661.56. 

 

The June NASDAQ 100 closed lower on Tuesday. 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 neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below last-Thursday's low crossing at 12,609.75 would open the door for a possible test of March's low crossing at 12,200.00. Closes above the 50-day moving average crossing at 13,161.05 are needed to confirm that a short-term low has been posted. First resistance is the March 16th high crossing at 13,287.25. Second resistance is the February 25th high crossing at 13,337.50.First support is last-Thursday's low crossing at 12,609.75. Second support is March's low crossing at 12,200.00. 



The June S&P 500 closed lower on Tuesday as it consolidates some of the rally off last-Thursday'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, diverging but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June renews the rally off March's low into uncharted territory, upside targets will be hard to project. Closes below the 50-day moving average crossing at 3867.25 would signal that a short-term top has been posted. First resistance is the March 18th high crossing at 3978.50. Second resistance is unknown. First support is the 50-day moving average crossing at 3867.25. Second support is March's low crossing at 3710.50.  



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



June T-bonds closed up 18/32's at 155-11. 

  

June 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 neutral to bearish signaling that sideways to lower prices are possible near-term.  If June renews the decline off November's high, the June-2019 low on the monthly continuation chart crossing at 152-27 is the next downside target. Closes above last-Thursday's high crossing at 157-08 would signal that a short-term low has been posted. First resistance is last-Thursday's high crossing at 157-08. Second resistance is the February 26th high crossing at 161-02. First support is the March 18th low crossing at 153-07. Second support is the June-2019 low on the monthly continuation chart crossing at 152-27.



June T-notes closed down 25-pts. At 131.090.



June T-notes closed lower on Tuesday as it renewed the decline off January's high. The mid-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are diverging but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June resumes the decline off the January 27th high, the February-2020 low on the weekly continuation chart crossing at 130.070 is the next downside target. Closes above the 20-day moving average crossing at 131.309 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 131.309. Second resistance is the March 2nd high crossing at 133.230. First support is today's low crossing at 130.260. 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 ""



May crude oil closed lower on Tuesday as it extends the trading range of the past seven-days. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins. 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 $62.70 are needed to confirm that a short-term low has been posted. If May extends the decline off March's high, the 38% retracement level of the November-February-rally crossing at $55.69 is the next downside target. First resistance is the 20-day moving average crossing at $62.70. Second resistance is March's high crossing at $67.98. First support is last-Tuesday's low crossing at $57.25. Second support is the 38% retracement level of the November-February-rallycrossing at $55.69.  



May heating oil closed lower on Tuesday as it extended the trading range of the past seven-days. The low-range close sets the stage for a steady to lower opening when Tuesday's night trading session begins. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends the decline off March's high, the 38% retracement level of the November-February-rally crossing at $164.17 is the next downside target. Closes above the 20-day moving average crossing at $186.43 would signal that a short-term low has been posted. First resistance is March's high crossing at $198.68. Second resistance is the the 75% retracement level of  the 2018-2020-decline crossing at $199.48. First support is last-Tuesday's low crossing at $174.26. Second support is the 38% retracement level of the November-February-rally crossing at $164.17.  



May unleaded gas closed lower on Tuesday. 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 bullish signaling sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at $201.43 would signal that a short-term low has been posted. If May extends the decline off March's high, the 50-day moving average crossing at $187.95 is the next downside target. First resistance is the 20-day moving average crossing at $201.43. Second resistance is March's high crossing at $215.48. First support is the 50-day moving average crossing at $187.95. Second support is the 38% retracement level of the November-March-rally crossing at $177.06.    



May Henry natural gas closed lower on Tuesday as it consolidates 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 neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 2.641 would signal that a short-term low has been posted. If April resumes the decline off February's high, the 87% retracement level of the December-February-rally crossing at 2.406 is the next upside target.First resistance is today's high crossing at 2.688. Second resistance is the 50-day moving average crossing at 2.746. First support is March's low crossing at 2.422. Second support is the 87% retracement level of the December-February rally crossing at 2.406. 



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



The June Dollar closed higher on Tuesday as it extended the rally off January'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 June extends the rally off February's low, the 62% retracement level of the September-January-decline crossing at 94.43 is the next downside target. Closes below the 20-day moving average crossing 92.06 would confirm that a short-term top has been posted. First resistance is  the 50% retracement level of the September-January-decline crossing at 93.43. Second resistance is the 62% retracement level of the September-January-decline crossing at 94.43. First support is the 10-day moving average crossing at 92.37. Second support is the 20-day moving average crossing 92.06.    



The June Euro closed lower on Tuesday and below the 38% retracement level of the 2020-2021-rally crossing at 117.85 as it extends this year's decline. 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 oversold, diverging but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extend the decline off January's high, the 50% retracement level of the 2020-2021 rally crossing at 115.98 is the next downside target. Closes above the 20-day moving average crossing at 119.15 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 119.15. Second resistance is the 50-day moving average crossing at 120.48. First support is today's low crossing at 117.29. Second support is the 50% retracement level of the 2020-2021 rally crossing at 115.98.  



The June British Pound 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 oversold but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends this month's decline, February's low crossing at 1.3586 is the next downside target. Closes above the 20-day moving average crossing at 1.3860 are needed to confirm that a short-term low has been posted. First resistance is the reaction high crossing at 1.4009. Second resistance is February's high crossing at 1.4245. First support is the 38% retracement level of the September-February-rally crossing at 1.3672. Second support is the 50% retracement level of the September-February-rally crossing at 1.3494.

 

The June Swiss Franc closed lower on Tuesday as it extended the decline off January's high. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are oversold, diverging and remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the decline off January's high, the 75% retracement level of the March-January-rally crossing at 1.0586 is the next downside target. Closes above the 20-day moving average crossing at 1.0772 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1.0772. Second resistance is the March 17th high crossing at 1.0880. First support is today's low crossing at 1.0616. Second support isthe 75% retracement level of the March-January-rally crossing at 1.0586.



The June Canadian Dollar closed lower on Tuesday as it extended the decline off March's high. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 79.08 would open the door for a possible test of the February 26th low crossing at 78.42. Closes above the 10-day moving average crossing at 79.69 would signal that a short-term low has been posted.First resistance is the 87% retracement level of the 2018-2020-decline crossing at 80.52. Second resistance is the February-2018 high crossing at 82.27. First support is the 50-day moving average crossing at 79.08. Second support is the February 26th low crossing at 78.42. 



The June Japanese Yen closed lower on Tuesday as it extended the decline off January's high. 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 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, last-March's low on the monthly continuation chart crossing at 0.0900 is the next downside target. Multiple closes above the 20-day moving average crossing at 0.0920 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 0.0920. Second resistance is March's high crossing at 0.0941. First support is today's low crossing at 0.0906. Second support is last-March's low on the monthly continuation chart crossing at 0.0900.



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



June gold closed sharply lower on Tuesday due to a rally in bond yields and a rising U.S. Dollar. 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 bearish signaling that a short-term top might be in or is near. If June extends this week's decline, March's low crossing at $1676.20. If June renews the rally off March's low, the 50-day moving average crossing at $1780.20 is the next upside target. First resistance is the March 18th high crossing at $1756.00. Second resistance is the 50-day moving average crossing at $1780.20. First support is March's low crossing at $1676.20. Second support is the 62% retracement level of the 2019-2020-rally crossing at $1634.70.  



May silver closed lower on Tuesday as it extends the decline off January's high. 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 May extends the decline off February's high, the 87% retracement level of the November-February-rally crossing at 23.102 is the next downside target. Closes above the 50-day moving average crossing at 26.369 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 25.390. Second resistance is the 50-day moving average crossing at 26.370. First support is the 75% retracement level of the November-February-rally crossing at 24.059. Second support is the 87% retracement level of the November-February-rally crossing at 23.102. 



May copper 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 May extends today's decline, the 50-day moving average crossing at 391.10 is the next downside target. If March resumes the rally off March's low, February's high crossing at 437.55 is the next upside target. First resistance is the reaction high crossing at 422.75. Second resistance is February's high crossing at 437.55. First support is the 50-day moving average crossing at 391.10. Second support is the 25% retracement level of the 2020-2021-rally crossing at 381.34.



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



May Corn closed down $0.07 1/2-cents at $5.39 1/4. 



May corn closed lower on Tuesday and below the 50-day moving average crossing at $5.43 signaling that a short-term top has been posted while opening the door for a possible test of March's low crossing at $5.29 1/4. The low-range close sets the stage for a steady to lower opening when Wednesday's night sessions begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If May resumes the rally off March'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 psychological resistance crossing at $6.00. First support is the March 4th low crossing at $5.29 1/4. Second support is the 25% retracement level of the August-January-rally crossing at $5.14. 



May wheat closed down $0.15-cents at $6.01 3/4.  



May wheat closed sharply lower on Tuesday as it extended the decline off February's high. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends the decline off February's high, the 50% retracement level of the June-January-rally crossing at $5.93 1/2 is the next downside target. Closes above the 50-day moving average crossing at $6.48 1/4 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at $6.35 3/4. Second resistance is the 50-day moving average crossing at $6.48 1/4. First support is today's low crossing at $6.00 1/2. Second support is the 50% retracement level of the June-January-rally crossing at $5.93 1/2.        



May Kansas City Wheat closed up $0.11-cents at $5.58 1/2.

 

May Kansas City wheat closed lower on Tuesday as it extends the decline off February's high. 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 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% retracement level of the August-March-rally crossing at $5.52 3/4 is the next downside target. Closes above the 20-day moving average crossing at $5.96 1/2 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $5.77. Second resistance is the 20-day moving average crossing at $5.96 1/2. First support is today's low crossing at $5.56 1/4. Second support is the 50% retracement level of the August-March-rally crossing at $5.52 3/4.       



May Minneapolis wheat closed down $0.09-cents at $6.01 3/4. 



May Minneapolis wheat closed lower on Tuesday as it extends the decline off February's high. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible. If May extends the decline off February's high, the 62% retracement level of the December-January-rally crossing at $5.93 1/2 is the next downside target. Closes above the 20-day moving average crossing at $6.30 3/4 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at $6.30 3/4. Second resistance is the 50-day moving average crossing at $6.35 3/4. First support is today's low crossing at $6.00. Second support is the 62% retracement level of the December-January-rally crossing at $5.93 1/2.     

     

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



May soybeans closed down $0.26 1/4-cents at $13.66 3/4.



May soybeans closed sharply lower on Tuesday as it extended this month's decline. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. Today's close below the 50-day moving average crossing at $13.91 1/4 signals that a short-term top has been posted. If May extends today's decline, the February 11th low crossing at $13.36 3/4 is the next downside target. Closes above the 20-day moving average crossing at $13.69 3/4 would signal that a short-term low has been posted. First resistance is last-Tuesday's high crossing at $14.35. Second resistance is March's high crossing at $14.60. First support is the February 11th low crossing at $13.36 3/4. Second support is the January 25th low crossing at $12.97.



May soybean meal closed up $0.10 to $398.20. 



May soybean meal closed slightly higher on Tuesday as it extends the trading range of the past three-weeks. 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 trading is  possible near-term. Closes above the 20-day moving average crossing at $406.20 would signal that a short-term low has been posted. If May extends the decline off January's high, the 50% retracement level of the August-January rally crossing at $376.30 is the next downside target. First resistance is the 20-day moving average crossing at $406.20. Second resistance is the 50-day moving average crossing at $419.60. First support is the 38% retracement level of the August-January rally crossing at $396.90. Second support is the 50% retracement level of the August-January rally crossing at $376.30.       



May soybean oil closed down 250-pts. at 50.46. 



May soybean oil closed limit down on Tuesday and is poised to test the 25% retracement level of the 2020-2021-rally crossing at 50.35. The limit-down close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are oversold but remain bearish signaling that sideways to lower prices are possible near-term. If May extends this week's decline, the 25% retracement level of the 2020-2021-rally crossing at 50.35 is the next downside target. If May renews the rally off October's low, the 75% retracement level of the 2008-2020-decline on the monthly continuation chart crossing at 59.60 is the next upside target. First resistance is last-Tuesday's high crossing at 58.25. Second resistance is the 75% retracement level of the 2008-2020-decline on the monthly continuation chart crossing at 59.60. First support is the 25% retracement level of the 2020-2021-rally crossing at 50.35. Second support is the 50-day moving average crossing at 48.72.     

 

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



April hogs closed up $0.55 at $100.93. 



April hogs closed higher on Tuesday as it extends the rally off November'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 April extends the rally off November's low, the 75% retracement level of the 2014-2016 decline on the monthly continuation chart crossing at $110.53 is the next upside target. Closes below the 10-day moving average crossing at $97.33 would signal that a short-term top has been posted. First resistance is last-Friday's high crossing at $101.98. Second resistance is the 75% retracement level of the 2014-2016 decline on the monthly continuation chart crossing at $110.53. First support is the 10-day moving average crossing at $97.33. Second support is the 20-day moving average crossing at $93.33. 



April cattle closed unchanged at $120.98. 



April cattle posted an inside day with a lower close on Tuesday. The low-range close sets the stage for a steady to lower opening on Wednesday.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 $120.09 would signal that a short-term low has been posted. If April renews the decline off February's high, the 50% retracement level of the October-February-rally crossing at $117.72 is the next downside target. First resistance is the 50-day moving average crossing at $120.09. Second resistance is February's high crossing at $126.70. First support is the March 19th low crossing at $118.00. Second support is the 50% retracement level of the October-February-rally crossing at $117.72. 



April Feeder cattle closed down $0.25 at $146.83. 


April Feeder cattle posted an inside day with a lower close 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 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 March's low, monthly resistance crossing at $152.23 is the next upside target. Closes below below the 20-day moving average crossing at $142.23 would signal that a short-term top has been posted. First resistance is Monday's high crossing at $148.18. Second resistance is monthly resistance crossing at $152.23. First support is the 20-day moving average crossing at $142.23. Second support is the March 19th low crossing at $138.43.            



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



May coffee closed sharply lower on Tuesday as it extended the decline off February's high. The low-range close sets the stage for a lower opening on Wednesday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends this week's decline, the 62% retracement level of the November-February-rally crossing at 11.95 is the next downside target. Closes above the 20-day moving average crossing at 129.88 would signal that a short-term low has been posted.         



May cocoa closed sharply lower on Tuesday and below February's low. The low-range close sets the stage for a steady to lower opening on Wednesday. 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 March's high, the 87% retracement level of last-November's rally crossing at 23.11 is the next downside target. Closes above the 20-day moving average crossing at 25.17 would signal that a short-term low has been posted.           



May sugar closed unchanged on Tuesday. The low-range close sets the stage for a steady to lower opening on Wednesday. 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 38% retracement level of the 2020-2021-rally crossing at 14.80. Closes above the 50-day moving average crossing at 15.82 would signal that a short-term low has been posted.      



May cotton closed slightly higher on Tuesday 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 Wednesday. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends the decline off February's high, the 50% retracement level of the 2020-2021-rally crossing at 74.20 is the next downside target. Closes above the 20-day moving average crossing at 84.90 would signal that a short-term low has been posted.       

Comments
By metmike - March 30, 2021, 9:42 p.m.
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Thanks tallpine!

Good weather for early planting and NOT making the drought worse:

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


NG weather is bearish but fundamentals lean bullish

https://www.marketforum.com/forum/topic/66971/


HUGE USDA report out on Wednesday with HUGE acres

https://www.marketforum.com/forum/topic/67276/


Exports

https://www.marketforum.com/forum/topic/67272/