INO Evening Market Comments
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Started by tallpine - April 23, 2021, 4:28 p.m.

KEY EVENTS TO WATCH FOR:



Monday, April 26, 2021 



8:30 AM ET. March Advance Report on Durable Goods



                       Durable Goods-SA, M/M% (previous -1.1%)



                       Dur Goods, Ex-Defense, M/M% (previous -0.7%)



                       Dur Goods, Ex-Transport, M/M% (previous -0.9%)



                       Orders: Cap Gds, Non-Def, Ex-Air, M/M% (previous -0.8%)

                       

                       Shipmnts: Cap Gds, Non-Def, Ex-Air, M/M% (previous -1.0%)

                       

10:30 AM ET. April Texas Manufacturing Outlook Survey



                       Business Activity (previous 28.9)



                       Mfg Production Idx (previous 48.0)



Tuesday, April 27, 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% (previous +13.4%)



                       Latest Wk, Y/Y% (previous +13.5%)



9:00 AM ET. February U.S. Monthly House Price Index



9:00 AM ET. February S&P CoreLogic Case-Shiller Indices



                       10-City Idx, M/M% (previous +0.8%)



                       10-City Idx, Y/Y% (previous +10.9%)



                       20-City Idx, M/M% (previous +0.9%)



                       20-City Idx, Y/Y% (previous +11.1%)



                       National Idx, M/M% (previous +0.8%)



                       National Idx, Y/Y% (previous +11.2%)



10:00 AM ET. April Richmond Fed Business Activity Survey



                       Mfg Idx (previous 17)



                       Shipments Idx (previous 22)



10:00 AM ET. April Consumer Confidence Index



                       Cons Conf Idx (previous 109.7)



                       Expectation Idx (previous 109.6)



                       Present Situation Idx (previous 110)



10:00 AM ET. 1st Quarter U.S. Housing Vacancies



1:00 AM ET. March Money Stock Measures



4:30 PM ET. API Weekly Statistical Bulletin



                       Crude Stocks, Net Chg (Bbls) (previous +0.4M)



                       Gasoline Stocks, Net Chg (Bbls) (previous -1.6M)



                       Distillate Stocks, Net Chg (Bbls) (previous +0.7M)



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



Wednesday, April 28, 2021 



7:00 AM ET. MBA Weekly Mortgage Applications Survey



                       Composite Idx (previous 724.8)



                       Composite Idx, W/W% (previous +8.6%)



                       Purchase Idx-SA (previous 295.5)



                       Purchase Idx-SA, W/W% (previous +5.7%)



                       Refinance Idx (previous 3219.9)



                       Refinance Idx, W/W% (previous +3.4%)



8:30 AM ET. March Advance Economic Indicators Report



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



10:30 AM ET. EIA Weekly Petroleum Status Report



                       Crude Oil Stocks (Bbl) (previous 493.017M)



                       Crude Oil Stocks, Net Chg (Bbl) (previous +0.594M)



                       Gasoline Stocks (Bbl) (previous 234.982M)



                       Gasoline Stocks, Net Chg (Bbl) (previous +0.085M)



                       Distillate Stocks (Bbl) (previous 142.391M)



                       Distillate Stocks, Net Chg (Bbl) (previous -1.073M)



                       Refinery Usage (previous 85.0%)



                       Total Prod Supplied (Bbl/day) (previous 18.762M)



                       Total Prod Supplied, Net Chg (Bbl/day) (previous -1.566M)

                       

2:00 PM ET. U.S. interest rate decision



                       Federal Funds Rate



                       Federal Funds Rate Change (Pts)



                       Fed Funds Rate-Range High (previous 0.25)



                       Fed Funds Rate-Range Low (previous 0.00)



                       FOMC Vote For Action (previous 11)



                       FOMC Vote Against Action (previous 0)



                       Discount Rate (previous 0.25)



                       Discount Rate Change (Pts) (previous +0)



                       Discount Rate-Range High



                       Discount Rate-Range Low



  N/A              U.S. President Joe Biden address to Joint Session of Congress



Thursday, April 29, 2021 



8:30 AM ET. 1st Quarter Advance estimate GDP



                       Annual Rate, Q/Q% (previous +4.3%)



                       Chain-Weighted Price Idx, Q/Q% (previous +2.0%)



                       PCE Price Idx, Q/Q% (previous +1.5%)



                       Purchase Price Idx, Q/Q% (previous +1.7%)



                       Real Final Sales 1st Est, Q/Q% (previous +2.9%)



                       Core PCE Price Idx, Q/Q% (previous +1.3%)



                       Personal Consumption, Q/Q% (previous +2.3%)



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



                       Jobless Claims (previous 547K)



                       Jobless Claims, Net Chg (previous -39K)



                       Continuing Claims (previous 3674000)



                       Continuing Claims, Net Chg (previous -34K)



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



                       Corn (Metric Tons) (previous 417K)



                       Soybeans (Metric Tons) (previous 379.7K)



                       Wheat (Metric Tons) (previous 614K)



9:45 AM ET. Bloomberg Consumer Comfort Index



10:00 AM ET. March Pending Home Sales Index



                       Pending Home Sales (previous 110.3)



                       Pending Home Sales Idx, M/M% (previous -10.6%)



                       Pending Home Sales Idx , Y/Y% (previous -0.5%)



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



                       Working Gas In Storage (Cbf) (previous 1883B)



                       Working Gas In Storage, Net Chg (Cbf) (previous +38B)



4:30 PM ET. Foreign Central Bank Holdings



4:30 PM ET. Federal Discount Window Borrowings



Friday, April 30, 2021 



8:30 AM ET. March Personal Income & Outlays



                       Personal Income, M/M% (previous -7.1%)



                       Consumer Spending, M/M% (previous -1.0%)



                       PCE Price Idx, M/M% (previous +0.2%)



                       PCE Price Idx, Y/Y% (previous +1.6%)



                       PCE Core Price Idx, M/M% (previous +0.1%)



                       PCE Core Price Idx, Y/Y% (previous +1.4%)



8:30 AM ET. 1st Quarter Employment Cost Index



                       ECI, Q/Q% (previous +0.7%)



                       ECI, Y/Y% (previous +2.5%)



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



                       PMI-Adj (previous 66.3)



10:00 AM ET. April University of Michigan Survey of Consumers – final



                       End-Mo Sentiment Idx (previous 84.9)



                       End-Mo Expectations Idx (previous 79.7)



                       12-Month Inflation Forecast (previous 3.1%)



                       5-Year Inflation Forecast (previous 2.8%)



                       End-Mo Current Idx (previous 93.0)



3:00 PM ET. March Agricultural Prices



                       Farm Prices, M/M% (previous +6.3%)



  N/A              Foreign portfolio holdings of U.S. securities final results



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



The Dow closed higher on Friday as it extends the trading range of the past six-days. The high-range close sets the stage for a steady to lower opening when Monday'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. Closes below the 20-day moving average crossing at 33,622.98 would signal that a short-term top has been posted. If the Dow extends the rally off January's low into uncharted territory, upside targets hard to project. First resistance is last-Friday's high crossing at 34,256.75. Second resistance is unknown. First support is the 20-day moving average crossing at 33,622.98. Second support is the 50-day moving average crossing at 32,622.43. 

 

The June NASDAQ 100 closed sharply higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday'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 the 20-day moving average crossing at 13,623.64 would signal that a short-term top has been posted.If June extends the rally off March's low into uncharted territory, upside targets will be hard to project. First resistance is last-Friday's high crossing at 14,059.50. Second resistance is unknown. First support is the 20-day moving average crossing at 13,623.64. Second support is the 50-day moving average crossing at 13,290.75. 



The June S&P 500 closed higher on Friday as it extends the trading range of the past six-days. The high-range close sets the stage for a steady to higher opening when Monday'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 renews the rally off March's low into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 4086.12 would signal that a short-term top has been posted. First resistance is last-Friday's high crossing at 4179.25. Second resistance is unknown. First support is the 20-day moving average crossing at 4086.12. Second support is the 50-day moving average crossing at 3965.61.  



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



June T-bonds closed up 3/32's at 158-17. 

  

June T-bonds closed slightly lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday'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 June extends the rally off March's low, the 25% retracement level of the 2020-2021-decline crossing at 159-19 is the next upside target. Closes below the 20-day moving average crossing at 156-25 would signal that a short-term top has been posted. First resistance is last-Thursday's high crossing at 159-01. Second resistance is the 25% retracement level of the 2020-2021-decline crossing at 159-19. First support is the 20-day moving average crossing at 156-25. Second support is the March 18th low crossing at 153-07. 



June T-notes closed down 20-points at 132.155.



June T-notes closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday'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 April's low, the 25% retracement level of the 2020-2021-decline crossing at 133.001 is the next upside target. Closes below the 20-day moving average crossing at 131.275 would signal that a short-term top has been posted. First resistance is the 25% retracement level of the 2020-2021-decline crossing at 133.001. Second resistance is March's high crossing at 133.230. First support is the 20-day moving average crossing at 131.275. Second support is April's low crossing at 130.255. 



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



June crude oil closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's night session begins. 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 $61.39 would signal that a short-term top has been posted. If May resumes the rally off March's low, March's high crossing at $67.99. First resistance is Tuesday's high crossing at $64.38. Second resistance is March's high crossing at $67.98. First support is the 50-day moving average crossing at $61.39. Second support is the March 23rd low crossing at $57.25. Third support is the 38% retracement level of the November-February-rallycrossing at $55.69.  



June heating oil closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's night trading session begins. 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 $183.60 would signal that a short-term top has been posted. If June resumes this month's rally, March's high crossing at $197.78 is the next upside target. First resistance is Tuesday's high crossing at $191.74. Second resistance is March's high crossing at $197.78. First support is the 20-day moving average crossing at $183.60. Second support is the March 23rd low crossing at $173.44. 



June unleaded gas closed higher on Friday as it consolidated some of the decline off Tuesday's high. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at $196.90 would signal that a short-term top has likely been posted. If June resumes the rally off March's low, March's high crossing at $212.80 is the next upside target. First resistance is Tuesday's high crossing at $207.42. Second resistance is March's high crossing at $212.80. First support is the 50-day moving average crossing at $196.60. Second support is the March 23rd low crossing at $186.18.  



June Henry natural gas closed lower on Friday as it consolidated some of Thursday rally. The low-range close sets the stage for a steady to lower opening when Monday'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 this month's rally, the 62% retracement level of the February-March-decline crossing at 2.869. Closes below the 20-day moving average crossing at 2.696 would signal that a short-term top has been posted. First resistance is the 62% retracement level of the February-March-decline crossing at 2.869. Second resistance is the 75% retracement level of the February-March-decline crossing at 2.943. First support is the 10-day moving average crossing at 2.756. Second support is the 20-day moving average crossing at 2.696. 



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



The June Dollar closed lower on Friday as it extends the decline off March's high. The low-range close sets the stage for a steady to lower opening when Monday'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 March's high, March's low crossing 90.62 is the next downside target. Closes above the 20-day moving average crossing at 92.09 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 91.44. Second resistance is the 20-day moving average crossing at 92.09. First support is today's low crossing at 90.83. Second support is March's low crossing 90.62.    



The June Euro closed higher on Friday as it extended the rally off March's low. The high-range close sets the stage for a steady to higher opening when Monday'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, the March high crossing at 121.40 is the next upside target. Closes below the 20-day moving average crossing at 119.21 would signal that a short-term top has been posted. First resistance is today's high crossing at 121.07. Second resistance is March's high crossing at 121.40. First support is the 10-day moving average crossing at 120.12. Second support is the 20-day moving average crossing at 119.21. 



The June British Pound closed slightly higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday'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 the 20-day moving average crossing at 1.3815 would signal that a short-term top has been posted. If June resumes the rally off April's low, February's high crossing at 1.4245 is the next upside target. First resistance is Tuesday's high crossing at 1.4012. Second resistance is February's high crossing at 1.4245. First support is the 20-day moving average crossing at 1.3815. Second support is the 38% retracement level of the September-February-rally crossing at 1.3672. 

 

The June Swiss Franc closed higher on Friday as it extends this month's rally.The high-range close sets the stage for a steady to higher opening when Monday'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 April's low, the 50% retracement level of the January-April-decline crossing at 1.1014 is the next upside target. Closes below the 20-day moving average crossing at 1.0806 would signal that a short-term top has been posted. First resistance is the 50% retracement level of the January-April-decline crossing at 1.1014. Second resistance is the 62% retracement level of the January-April-decline crossing at 1.1117. First support is the 10-day moving average crossing at 1.0901. Second support is the 20-day moving average crossing at 1.0806.



The June Canadian Dollar closed higher on Friday. If June extends Wednesday's rally, March's high crossing at 80.88 is the next upside target. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends Wednesday's rally, March's high crossing at 80.88 is the next upside target. If June renews the decline off March's high the February 26th low crossing at 78.42 is the next downside target. First resistance is the 87% retracement level of the 2018-2020-decline crossing at 80.52. Second resistance is March's high crossing at 80.88. First support is Wednesday's low crossing at 79.02. Second support is the February 26th low crossing at 78.42. 



The June Japanese Yen closed slightly higher on Friday as it extends the rally off March's low. The low-range close sets the stage for a steady to lower opening when Monday’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, the 50% retracement level of the January-March-decline crossing at 0.0939 is the next upside target. Closes below the 20-day moving average crossing at 0.0916 would signal that a short-term top has been posted. First resistance is the 38% retracement level of the January-March-decline crossing at 0.0930. Second resistance is the 50% retracement level of the January-March-decline crossing at 0.0939. First support is the 10-day moving average crossing at 0.922. Second support is the 20-day moving average crossing at 0.0916.  



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



June gold closed lower on Friday as it consolidated some of the rally off the late-March low. The low-range close sets the stage for a steady to lower opening when Monday'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 at $1748.00 would signal that a short-term top has been posted. If June extends the rally off the March 31st low, the February 23rd high crossing at $1817.60 is the next upside target. First resistance is Wednesday's high crossing at $1798.40. Second resistance is the February 23rd high crossing at $1817.60. First support is last-Tuesday's low crossing at $1723.20. Second support is March's low crossing at $1676.20.



May silver closed lower on Friday 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 Monday'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 at 25.401 would signal that a short-term top has been posted. If May extends the rally off March's low, the 50% retracement level of the February-March-decline crossing at 26.902 is the next upside target. First resistance is the 50% retracement level of the February-March-decline crossing at 26.902. Second resistance is the 62% retracement level of the February-March-decline crossing at 27.649. First support is the 20-day moving average crossing at 25.401. Second support is March's low crossing at 23.740. 



May copper closed higher on Friday as it extends this month's rally. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off March's low, February's high crossing at 437.55 is the next upside target. Closes below the 50-day moving average crossing at 408.76 would confirm that a short-term top has been posted. First resistance is today's high crossing at 434.4. Second resistance is February's high crossing at 437.55. First support is the 50-day moving average crossing at 408.76. Second support is April's low crossing at 394.35.



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



July Corn closed up $0.01-cents at $6.32 1/2. 



July corn closed higher on Friday as it extended the rally off March's low and tested the 62% retracement level of the 2012-2020-decline crossing at $6.36. The high-range close sets the stage for a steady to higher opening when Monday's night sessions begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends the aforementioned rally, the 75% retracement level of the 2012-2020-decline crossing at $7.07 3/4 is the next upside target. Closes below the 20-day moving average crossing at $5.66 1/2 would signal that a short-term top has been posted. First resistance is the 62% retracement level of the 2012-2020-decline crossing at $6.36. Second resistance is the 75% retracement level of the 2012-2020-decline crossing at $7.07 3/4. First support is the 10-day moving average crossing at $5.89 3/4. Second support is the 20-day moving average crossing at $5.66 1/2. 



July wheat closed up $0.01 3/4-cents at $7.12 1/4.  



July wheat closed higher on Friday as it extends the rally off March's low. The high-range close sets the stage for a steady to higher opening when Monday'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 July extends this year's rally, the 38% retracement level of the 2008-2016-decline on the monthly continuation chart crossing at $7.47 is the next upside target. Closes below the 20-day moving average crossing at $6.40 would signal that a short-term top has been posted. First resistance is today's high crossing at $7.15 1/4. Second resistance is the 38% retracement level of the 2008-2016-decline on the monthly continuation chart crossing at $7.47. First support is the 10-day moving average crossing at $6.64. Second support is the 20-day moving average crossing at $6.40.



July Kansas City Wheat closed up $0.05 3/4-cents at $6.80 1/2.

 

July Kansas City wheat closed higher on Friday as it extends the rally off March's low. The high-range close sets the stage for a steady to higher opening when Monday'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 July extends the rally off March's low, psychological resistance crossing at $7.00 is the next upside target. Closes below the 20-day moving average crossing at $6.00 1/2 would signal that a short-term top has been posted. First resistance is psychological resistance crossing at $7.00. Second resistancethe 38% retracement level of the 2008-2019-decline crossing at $7.64 1/4.First support is the 10-day moving average crossing at $6.26 1/4. Second support is the 20-day moving average crossing at $6.00 1/2.



July Minneapolis wheat closed up $0.10 3/4-cents at $7.25 1/2. 



July Minneapolis wheat closed higher on Friday as it extended the rally off April's low. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible. If July extends the rally off April's low, weekly resistance crossing at $7.41 1/4 is the next upside target. Closes below the 20-day moving average crossing at $6.52 1/2 would confirm that a short-term top has been posted. First resistance is today's high crossing at $7.28. Second resistance is weekly resistance crossing at $7.41 1/4. First support is the 10-day moving average crossing at $6.79. Second support is the 20-day moving average crossing at $6.52 1/2.   

       

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



July soybeans closed up $0.01 3/4-cents at $15.16.



July soybeans closed higher on Friday as it extends the rally off last-April's low.The high-range close sets the stage for a steady to higher opening when Monday'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 July extends the aforementioned rally, the 75% retracement level of the 2012-2019-decline on the monthly continuation chart crossing at $15.39 1/2 is the next upside target. Closes below the 50-day moving average crossing at $14.04 1/2 would signal that a short-term top has been posted. First resistance is today's high crossing at $15.25 1/2. Second resistance is the 75% retracement level of the 2012-2019-decline on the monthly continuation chart crossing at $15.39 1/2. First support is the 10-day moving average crossing at $14.40 1/4. Second support is the 20-day moving average crossing at $14.19 1/2.



July soybean meal closed up $0.50 to $425.80. 



July soybean meal closed higher on Friday as it extends the rally off April's low. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends this week's rally, April's high crossing at $433.60 is the next upside target. Closes below the 20-day moving average crossing at $410.00 would signal that a short-term top has been posted. First resistance is April's high crossing at $433.60. Second resistance is February's high crossing at $437.00. First support is the 38% retracement level of the August-January rally crossing at $393.40. Second support is the 50% retracement level of the August-January rally crossing at $373.40.      



July soybean oil closed down 17-pts. at 58.78. 



July soybean oil closed lower on Friday due to light profit taking as it consolidated some of this month's rally. The mid-range close sets the stage for a steady to lower opening when Monday'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 July extends this year's rally, the 87% retracement level of the 2008-2020-decline on the monthly continuation chart crossing at 65.20 is the next upside target. Closes below the 20-day moving average crossing at 52.53 would signal that a short-term top has been posted. First resistance is today's high crossing at 59.74. Second resistance is the 87% retracement level of the 2008-2020-decline on the monthly continuation chart crossing at 65.20. First support is the 10-day moving average crossing at 54.35. Second support is the 20-day moving average crossing at 52.53.      

 

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



June hogs closed up $2.18 at $105.73. 



June hogs closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday'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 June renews 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. If June renews the decline off April's high, the 50-day moving average crossing at $100.25 is the next downside target. First resistance is April's high crossing at $110.08. 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 50-day moving average crossing at $100.25. Second support is the March 22nd low crossing at $97.62. 



June cattle closed down $0.13 at $115.73. 



June cattle closed lower on Friday as it extends the decline off April's high. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that a short-term top might be in or is near. If June extends the aforementioned decline, the 50% retracement level of the October-April-rally crossing at $114.37 is the next downside target. Closes above the 20-day moving average crossing at $121.13 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at $120.26. Second resistance is the 20-day moving average crossing at $121.13. First support is Thursday's low crossing at $115.30. Second support is the 50% retracement level of the October-April-rally crossing at $114.37. 



August Feeder cattle closed up $1.53 at $149.90. 


August Feeder cattle closed higher on Friday as it consolidated some of the decline off April's high. The high-range close sets the stage for a steady to higher opening when Monday's session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that additional weakness is possible near-term. If August extends the aforementioned decline, January's low crossing at $144.62 is the next downside target. Closes above the 20-day moving average crossing at $157.09 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $154.33. Second resistance is the 20-day moving average crossing at $157.09. First support is Thursday's low crossing at $147.10. Second support is January's low crossing at $144.62.            



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



July coffee closed higher on Friday as it extended the rally off March's low. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends the rally off March's low, February's high crossing at 14.22 is the next upside target. Closes below the 20-day moving average crossing at 13.05 would signal that a short-term top has been posted.           



July cocoa closed higher on Friday. The mid-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above Tuesday's crossing at 25.03 would open the door for additional gains near-term. Closes below Tuesday's low crossing at 24.14 would open the door for a possible test of April's low crossing at 23.60.              



July sugar closed unchanged on Friday as it consolidated some of the rally off March's low. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends the aforementioned rally, weekly resistance crossing at 18.42 is the next upside target. Closes below the 20-day moving average crossing at 15.64 would signal that a short-term top has been posted.       



July cotton closed sharply higher on Friday as it renewed the rally off March's low. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends the aforementioned rally, March's high crossing at 93.70 is the next upside target. Closes below the 20-day moving average crossing at 83.28 would signal that a short-term top has been posted.         

Comments
By metmike - April 23, 2021, 8:30 p.m.
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Thanks tallpine!


Weather........ a wet spell the next week in parts of the country that normally starts planting the earlier and is behind.

Thursdays huge  move higher in the grains has more to do with old crops stocks not being high enough to satiate the demand before the new crop is harvested later this year.....so there must be price rationing (higher) to reduce demand down to the level of stocks that are available.

https://www.marketforum.com/forum/topic/68198/


crop conditions....updated Monday for USDA now!

https://www.marketforum.com/forum/topic/68191/


exports and more:

https://www.marketforum.com/forum/topic/68186/


Funds:

https://www.marketforum.com/forum/topic/68194/


Natural gas: EIA on Thursday was BULLISH!

https://www.marketforum.com/forum/topic/67640/