INO Evening Market Comments
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Started by tallpine - April 5, 2021, 4:48 p.m.

KEY EVENTS TO WATCH FOR:



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



Wednesday, April 7, 2021   



7:00 AM ET. MBA Weekly Mortgage Applications Survey



                       Composite Idx (previous 730.8)



                       Composite Idx, W/W% (previous -2.2%)



                       Purchase Idx-SA (previous 297.3)



                       Purchase Idx-SA, W/W% (previous -1.5%)



                       Refinance Idx (previous 3242.1)



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



8:30 AM ET. February U.S. International Trade in Goods & Services



                       Trade Balance (USD) (expected -70.5B; previous -68.2B)



                       Exports (USD) (previous 191.9B)



                       Exports, M/M% (previous +1.0%)



                       Imports (USD) (previous 260.2B)



                       Imports, M/M% (previous +1.2%)



10:00 AM ET. March Online Help Wanted Index



10:00 AM ET. February Metropolitan Area Employment & Unemployment



10:30 AM ET. EIA Weekly Petroleum Status Report



                       Crude Oil Stocks (Bbl) (previous 501.835M)



                       Crude Oil Stocks, Net Chg (Bbl) (previous -0.876M)



                       Gasoline Stocks (Bbl) (previous 230.544M)



                       Gasoline Stocks, Net Chg (Bbl) (previous -1.735M)



                       Distillate Stocks (Bbl) (previous 144.095M)



                       Distillate Stocks, Net Chg (Bbl) (previous +2.542M)



                       Refinery Usage (previous 83.9%)



                       Total Prod Supplied (Bbl/day) (previous 20.313M)



                       Total Prod Supplied, Net Chg (Bbl/day) (previous +1.611M)

                       

11:00 AM ET. March Global Services PMI



                       PMI, Services (previous 52.8)



2:00 PM ET. Federal Open Market Committee meeting minutes and economic forecast



3:00 PM ET. February Consumer Credit



                       Consumer Credit Net Chg (USD) (expected +6.3B; previous -1.3B)



Thursday, April 8, 2021 



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



                       Jobless Claims (expected 690K; previous 719K)



                       Jobless Claims, Net Chg (previous +61K)



                       Continuing Claims (previous 3794000)



                       Continuing Claims, Net Chg (previous -46K)



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



                       Corn (Metric Tons) (previous 857.3K)



                       Soybeans (Metric Tons) (previous 236.8K)



                       Wheat (Metric Tons) (previous 331.1K)



9:45 AM ET. Bloomberg Consumer Comfort Index



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



                       Working Gas In Storage (Cbf) (previous 1764B)



                       Working Gas In Storage, Net Chg (Cbf) (previous +14B)



12:00 PM ET. March Monthly U.S. Retail Chain Store Sales Index



4:30 PM ET. Foreign Central Bank Holdings



4:30 PM ET. Federal Discount Window Borrowings



Friday, April 9, 2021 



8:30 AM ET. March PPI



                       PPI, M/M% (expected +0.5%; previous +0.5%)



                       Ex-Food & Energy PPI, M/M% (expected +0.2%; previous +0.2%)



                       Personal Consumption (previous +0.5%)



10:00 AM ET. February Monthly Wholesale Trade



                       Inventories, M/M% (expected +0.5%; previous +1.3%)



12:00 PM ET. World Agricultural Supply & Demand Estimates (WASDE)



                       Corn, End Stocks (Bushels)



                       Soybeans, End Stocks (Bushels)



                       Wheat, End Stocks (Bushels)



                       Cotton, End Stocks (Bales)\



Monday, April 12, 2021 



2:00 PM ET. March Monthly Treasury Statement of Receipts & Outlays of the U.S.


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



The Dow closed sharply higher on Monday following additional good economic news from the services sector showing improving activity, including a bullish March jobs report from last Friday. 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 the Dow extends the rally off January's low into uncharted territory, upside targets hard to project. Closes below the March 25th low crossing at 32,071.41 would signal that a short-term top has been posted. First resistance is today's high crossing at 33,617.95. Second resistance is unknown. First support is the March 25th low crossing at 32,071.41. Second support is the 50-day moving average crossing at 31,788.46. 

 

The June NASDAQ 100 closed sharply higher on Monday as it extends the rally off March'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 becoming overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the aforementioned rally, February's high crossing at 13,888.00 is the next upside target. Closes below the 20-day moving average crossing at 12,960.90 would signal that a short-term top has been posted. First resistance is today's high crossing at 13,615.00. Second resistance is February's high crossing at 13,888.00.First support is the 20-day moving average crossing at 12,960.90. Second support is the March 25th low crossing at 12,609.75. 



The June S&P 500 gapped up and closed higher on Monday as it extended the rally off last-March'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 June extends 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 3879.00 would signal that a short-term top has been posted. First resistance is today's high crossing at 4073.75. Second resistance is unknown. First support is the 50-day moving average crossing at 3879.00. Second support is March's low crossing at 3710.50.  



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



June T-bonds closed down 15/32's at 155-20. 

  

June T-bonds closed lower on Monday. 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 neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the March 25th high crossing at 157-08 would signal that a short-term low has been posted. 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. First resistance is the March 25th high crossing at 157-08. Second resistance is the 50-day moving average crossing at 160-16. 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 75-pts. At 131.060.



June T-notes closed lower on Monday. 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 diverging but are turning neutral to bullish signaling that a low might be in or is near. Closes above the March 25th high crossing at 132.095 are needed to confirm that a short-term low has been posted. 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. First resistance is the March 25th high crossing at 132.095. Second resistance is the March 2nd high crossing at 133.230. First support is today's low crossing at 130.255. 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 Monday as it extends the trading range of the past two-weeks. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If May renews the decline off March's high, the 38% retracement level of the November-February-rally crossing at $55.69 is the next downside target. Closes above the 20-day moving average crossing at $62.15 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at $62.15. Second resistance is March's high crossing at $67.98.First support is the March 23rd 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 Monday as it extended the trading range of the past two-weeks. 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 $184.98 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 the March 23rd low crossing at $173.15. Second support is the 38% retracement level of the November-February-rally crossing at $164.17.  



May unleaded gas closed lower on Monday. 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 neutral to bullish signaling sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at $201.18 would signal that a short-term low has been posted. If May renews the decline off March's high, the 50-day moving average crossing at $189.93 is the next downside target. First resistance is the 20-day moving average crossing at $201.18. Second resistance is March's high crossing at $215.48. First support is the 50-day moving average crossing at $189.93. Second support is the 38% retracement level of the November-March-rally crossing at $177.06.    



May Henry natural gas closed sharply lower on Monday 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 Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes above last-Tuesday's high crossing at 2.688 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 2.445 is the next downside target. First resistance is last-Tuesday's high crossing at 2.688. Second resistance is the 50-day moving average crossing at 2.745. First support is March's low crossing at 2.422. Second support is the 87% retracement level of the December-February rally crossing at 2.445. 



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



The June Dollar closed lower for the third day in a row on Monday as it consolidated some of the rally off January's low. 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 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 92.27 would confirm that a short-term top has been posted. 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. 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 20-day moving average crossing at 92.27. Second support is the 50-day moving average crossing 91.32.   



The June Euro closed higher for the third-day in a row on Monday. 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 turning neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 118.82 would signal that a short-term low has been posted. 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. First resistance is the 20-day moving average crossing at 118.82. Second resistance is the 50-day moving average crossing at 120.25. First support is last-Wednesday's low crossing at 117.21. Second support is the 50% retracement level of the 2020-2021 rally crossing at 115.98. 



The June British Pound closed higher on Monday and above the 20-day moving average crossing at 1.3851 confirming that a short-term low has been posted. The high-range close sets the stage for a steady to higher opening when Tuesday'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 June extends today's rally, the reaction high crossing at 1.4009 is the next upside target. If June renews the decline off February's high, the 50% retracement level of the September-February-rally crossing at 1.3494 is the next downside target. 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 higher due to short covering on Monday as it consolidated some of the decline off January's high. 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 oversold but are turning neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 1.0745 would signal that a short-term low has been posted. If June extends the decline off January's high, the 87% retracement level of the March-January-rally crossing at 1.0447 is the next downside target. First resistance is the 20-day moving average crossing at 1.0745. Second resistance is the March 17th high crossing at 1.0880. First support is the 75% retracement level of the March-January-rally crossing at 1.0586. Second support is  the 87% retracement level of the March-January-rally crossing at 1.0447.



The June Canadian Dollar closed higher on Monday. 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. Today's close above the 20-day moving average crossing at 79.70 signals that a short-term low has been posted and opens the door for a possible test of March's high crossing at 80.88. Closes below the 50-day moving average crossing at 79.13 would open the door for a possible test of the February 26th low crossing at 78.42. 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 79.13. Second support is the February 26th low crossing at 78.42. 



The June Japanese Yen closed higher due to short covering on Monday as it consolidated some of the decline off January's high. 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 oversold but are turning neutral to bullish signaling that a low might be in or is near. Multiple closes above the 20-day moving average crossing at 0.0916 would signal that a short-term low has been posted. 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. First resistance is the 20-day moving average crossing at 0.0916. Second resistance is the March 23rd high crossing at 0.0923. First support is last-Wednesday's low crossing at 0.0902. 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 slightly higher on Monday as it extends the rebound off last-Wednesday'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 neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the March 18th high crossing at $1756.00 would confirm that a short-term low has been posted. Closes below March's low crossing at $1676.20 are needed to renew the decline January's high. First resistance is the March 18th high crossing at $1756.00. Second resistance is the 50-day moving average crossing at $1771.90. 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 Monday as it consolidated some of the rebound off last-Wednesday's low. 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 neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 25.516 would signal that a short-term low has been posted. 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. First resistance is the 20-day moving average crossing at 25.516. Second resistance is the 50-day moving average crossing at 26.317. 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 gapped up and closed sharply higher on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday'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 March resumes the rally off March's low, February's high crossing at 437.55 is the next upside target. Closes below the 50-day moving average crossing at 393.47 would confirm that a short-term top has been posted. 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 393.47. 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 $0.06 1/2-cents at $5.53 1/4. 



May corn closed lower on Monday following following last-Thursday's downside reversal. The low-range close sets the stage for a steady to lower opening when Tuesday's night sessions begins trading. Stochastics and the RSI are neutral signaling that sideways trading is possible near-term. If May extends the rally off last-April's low, psychological resistance crossing at $6.00 is the next upside target. Closes below last-Tuesday's low crossing at $5.33 3/4 would confirm that a short-term top has been posted. First resistance is last-Thursday's high crossing at $5.85. Second resistance is psychological resistance crossing at $6.00. First support is last-Tuesday's low crossing at $5.33 3/4. Second support is the March 4th low crossing at $5.29 1/4. 



May wheat closed up $0.07-cents at $6.18.  



May wheat closed higher on Monday. The mid-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at $6.45 would signal that a short-term low has been posted. If May extends the decline off February's high, the 62% retracement level of the June-January-rally crossing at $5.70 is the next downside target. First resistance is the 20-day moving average crossing at $6.30. Second resistance is the 50-day moving average crossing at $6.44. First support is the 50% retracement level of the June-January-rally crossing at $5.93 1/2. Second support is the 62% retracement level of the June-January-rally crossing at $5.70.       



May Kansas City Wheat closed down $0.02-cents at $5.63 1/2.

 

May Kansas City wheat closed lower on Monday. 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at $5.88 would confirm that a short-term low has been posted. If May extends the decline off February's high, the 62% retracement level of the August-March-rally crossing at $5.26 1/2 is the next downside target.First resistance is the 20-day moving average crossing at $5.88. Second resistance is the March 17th high crossing at $5.09 1/4. First support is the 50% retracement level of the August-March-rally crossing at $5.52 3/4. Second support is the 62% retracement level of the August-March-rally crossing at $5.26 1/2.      



May Minneapolis wheat closed up $0.08-cents at $6.07 1/2. 



May Minneapolis wheat closed higher on Monday. 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 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 $6.25 1/4 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at $6.25 1/4. Second resistance is the 50-day moving average crossing at $6.33 1/4. First support is last-Thursday's low crossing at $5.97 1/2. 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 up $0.10 3/4-cents at $14.12 3/4.



May soybeans closed higher on Monday. The mid-range close sets the stage for a steady to higher opening when Tuesday'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 March's high crossing at $14.60 are needed to confirm an upside breakout of this year's trading range and renew the long-term uptrend. Closes below last-Tuesday's low crossing at $13.64 1/4 would signal that a short-term top has been posted. First resistance is March's high crossing at $14.60. Second resistance is psychological resistance crossing at $15.00. 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 down $3.90 to $406.30. 



May soybean meal closed lower on Monday. 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 neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends the rally off March's low, February's high crossing at $442.10 is the next upside target. Closes below the 38% retracement level of the August-January rally crossing at $396.90 would confirm that a short-term top has been posted. First resistance is February's high crossing at $442.10. Second resistance is January's high crossing at $463.60. 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 up 68-pts. at 52.81. 



May soybean oil closed higher on Monday as it rebounded off the 25% retracement level of the 2020-2021-rally crossing at 50.35. 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. 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. If May extends the decline off March's high, the 50-day moving average crossing at 49.36 is the next downside target. First resistance is March'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 49.36.      

 

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



June hogs closed down $0.73 at $105.60. 



June hogs posted an outside day down and closed lower on Monday as it consolidated some of the rally off November's low. The low-range close sets the stage for a steady to lower opening when 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 June 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 20-day moving average crossing at $101.57 would signal that a short-term top has been posted. First resistance is today's high crossing at $107.40. 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 $104.03. Second support is the 20-day moving average crossing at $101.57. 



June cattle closed up $188.00 at $124.43. 



June cattle closed higher on Monday as it extends the rally off last-October's low. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are becoming overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the aforementioned rally, weekly resistance crossing at $127.90 is the next upside target. Closes below the 50-day moving average crossing at $119.90 would signal that a short-term top has been posted. First resistance is today's high crossing at $124.78. Second resistance is weekly resistance crossing at $127.90. First support is the 20-day moving average crossing at $120.91. Second support is the 50-day moving average crossing at $119.90. 



May Feeder cattle closed up $2.55 at $151.78. 


May Feeder cattle closed sharply higher on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday's session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below below the 20-day moving average crossing at $148.32 would signal that a short-term top has been posted. If May extends the rally off March's low, monthly resistance crossing at $159.90 is the next upside target. First resistance is last-Tuesday's high crossing at $153.48. Second resistance is monthly resistance crossing at $159.90. First support is the 20-day moving average crossing at $148.32. Second support is the March 19th low crossing at $143.65.            



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



May coffee closed higher on Monday 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 Tuesday. 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 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 128.55 would signal that a short-term low has been posted.         



May cocoa posted a key reversal down on Monday. The low-range close sets the stage for a steady to lower opening on Tuesday. 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 24.79 would signal that a short-term low has been posted.            



May sugar closed slightly higher on Monday. The mid-range close sets the stage for a steady to lower opening on Tuesday. 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 2020-2021-rally crossing at 13.96. Closes above the 20-day moving average crossing at 15.58 would signal that a short-term low has been posted.      



May cotton closed slightly 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. 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 83.56 would signal that a short-term low has been posted.       

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By metmike - April 5, 2021, 8:46 p.m.
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Thanks tallpine!