INO Evening Market Comments
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Started by tallpine - April 30, 2021, 4:53 p.m.

KEY EVENTS TO WATCH FOR:



Monday, May 3, 2021 



9:45 AM ET. April US Manufacturing PMI



                       PMI, Mfg (previous 59.1)



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



                       New Construction (previous -0.8%)



                       Residential Construction



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



                       Manufacturing PMI (previous 64.7)



                       Prices Idx (previous 85.6)



                       Employment Idx (previous 59.6)



                       Inventories (previous 50.8)



                       New Orders Idx (previous 68.0)



                       Production Idx (previous 68.1)



11:00 AM ET. April Global Manufacturing PMI



                       PMI, Mfg (previous 55.0)



4:00 AM ET. April Domestic Auto Industry Sales





Tuesday, May 4, 2021 



7:45 AM ET. Weekly Chain Store Sales Index



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



                       Trade Balance (USD) (previous -71.08B)



                       Exports (USD) (previous 187.3B)



                       Exports, M/M% (previous -2.6%)



                       Imports (USD) (previous 258.3B)



                       Imports, M/M% (previous -0.7%)



8:55 AM ET. Johnson Redbook Retail Sales Index



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



                       Ret Sales Mo-to-Date, Y/Y% (previous +13.5%)



                       Latest Wk, Y/Y% (previous +13.9%)



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



                       Business Index (previous 37.2)



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



                       Economic Optimism Idx (previous 56.4)



                       6-Mo Economic Outlook (previous 55.9)



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



                       Total Orders, M/M% (previous -0.8%)



                       Orders, Ex-Defense, M/M% (previous -0.6%)



                       Orders, Ex-Transport, M/M% (previous -0.6%)



                       Durable Goods, M/M%



                       Durable Goods, M/M%



4:30 AM ET. API Weekly Statistical Bulletin



                       Crude Stocks, Net Chg (Bbls) (previous +4.3M)



                       Gasoline Stocks, Net Chg (Bbls) (previous -1.3M)



                       Distillate Stocks, Net Chg (Bbls) (previous -2.4M)



Wednesday, May 5, 2021 



7:00 AM ET. MBA Weekly Mortgage Applications Survey



                       Composite Idx (previous 706.6)



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



                       Purchase Idx-SA (previous 281.4)



                       Purchase Idx-SA, W/W% (previous -4.8%)



                       Refinance Idx (previous 3185.3)



                       Refinance Idx, W/W% (previous -1.1%)



8:15 AM ET. April ADP National Employment Report



                       Private Sector Jobs, Net Chg (previous +517000)



9:45 AM ET. April US Services PMI



                       PMI, Services (previous 60.4)



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



                       Non-Mfg Composite Idx (previous 63.7)



                       Non-Mfg Business Idx (previous 69.4)



                       Prices Idx (previous 74.0)



                       Employment Idx (previous 57.2)



                       New Orders Idx (previous 67.2)



10:30 AM ET. EIA Weekly Petroleum Status Report



                       Crude Oil Stocks (Bbl) (previous 493.107M)



                       Crude Oil Stocks, Net Chg (Bbl) (previous +0.09M)



                       Gasoline Stocks (Bbl) (previous 235.074M)



                       Gasoline Stocks, Net Chg (Bbl) (previous +0.092M)



                       Distillate Stocks (Bbl) (previous 139.049M)



                       Distillate Stocks, Net Chg (Bbl) (previous -3.342M)



                       Refinery Usage (previous 85.4%)



                       Total Prod Supplied (Bbl/day) (previous 20.395M)



                       Total Prod Supplied, Net Chg (Bbl/day) (previous +1.633M)



11:00 AM ET. April Global Services PMI



                       PMI, Services (previous 54.7)



Thursday, May 6, 2021 



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



                       Job Cuts, M/M% (previous -11.38%)



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



                       Corn (Metric Tons) (previous 1074.7K)



                       Soybeans (Metric Tons) (previous 731.5K)



                       Wheat (Metric Tons) (previous 461.3K)



8:30 AM ET. 1st Quarter Preliminary Productivity & Costs



                       Non-Farm Productivity, Q/Q% (previous -4.8%)



                       Unit Labor Costs (previous +6.8%)



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



                       Jobless Claims (previous 553K)



                       Jobless Claims, Net Chg (previous -13K)



                       Continuing Claims (previous 3660000)



                       Continuing Claims, Net Chg (previous +9K)



9:45 AM ET. Bloomberg Consumer Comfort Index



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



                       Working Gas In Storage (Cbf) (previous 1898B)



                       Working Gas In Storage, Net Chg (Cbf) (previous +15B)

                       

12:00 PM ET. April 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, May 7, 2021 



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



                       Non-Farm Payrolls (previous +916K)



                       Unemployment Rate (previous 6%)



                       Avg Hourly Earnings (USD) (previous 29.96)



                       Avg Hourly Earnings-Net Chg (USD) (previous -0.04)



                       Avg Hourly Earnings, M/M% (previous -0.13%)



                       Avg Hourly Earnings, Y/Y% (previous +4.24%)



                       Overall Workweek (previous 34.9)



                       Overall Workweek Net Chg (previous +0.3)



                       Government Payrolls (previous +136K)



                       Private Payroll (previous +780K)



                       Participation Rate (previous 61.5%)



                       Non-Farm Payrolls Bench Net Chg



10:00 AM ET. March Monthly Wholesale Trade



                       Inventories, M/M% (previous +0.6%)



3:00 PM ET. March Consumer Credit



                       Consumer Credit Net Chg (USD) (previous +27.6B)



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



The Dow posted an inside day with a lower close on Friday 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 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 33,835.43 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 April's high crossing at 34,256.75. Second resistance is unknown. First support is the 20-day moving average crossing at 33,835.43. Second support is the 50-day moving average crossing at 32,865.94. 

 

The June NASDAQ 100 closed lower on Friday 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 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 April-21st low crossing at 13,700.50 would confirm that a short-term top has been posted.If June renews the rally off March's low into uncharted territory, upside targets will be hard to project. First resistance is the April 16th high crossing at 14,059.50. Second resistance is unknown. First support is the April-21st low crossing at 13,700.50. Second support is the 50-day moving average crossing at 13,312.02. 



The June S&P 500 closed lower on Friday as it consolidated some of this month's 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 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 4138.89 would signal that a short-term top has been posted. First resistance is Thursday's high crossing at 4211.00. Second resistance is unknown. First support is the 20-day moving average crossing at 4138.89. Second support is the 50-day moving average crossing at 3992.55.  



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



June T-bonds closed up 6/32's at 157-12. 

  

June T-bonds 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. If June extends this week's decline, the reaction low crossing at 155-25 is the next downside target. If June renews the rally off March's low, the 25% retracement level of the 2020-2021-decline crossing at 159-19 is the next upside target.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 Thursday's low crossing at 156-06. Second support is the March 18th low crossing at 153-07. 



June T-notes closed up 45-points at 132.040.



June T-notes 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 remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends this week's decline, April's low crossing at 130.255 is the next downside target. 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. 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 Thursday's low crossing at 131.185. Second support is April's low crossing at 130.255. 



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



June crude oil closed lower due to profit taking on Friday. The low-range close sets the stage for a steady to lower opening when Monday's night session begins. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends the rally off March's low, March's high crossing at $67.99. First resistance is Thursday's high crossing at $65.47. Closes below the 50-day moving average crossing at $61.83 would signal that a short-term top has been posted. Second resistance is March's high crossing at $67.98. First support is the 50-day moving average crossing at $61.83. 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 lower due to profit taking on Friday. The low-range close sets the stage for a steady to lower opening when Monday's night trading session begins. Stochastics and the RSI are overbought, diverging but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends this month's rally, March's high crossing at $197.78 is the next upside target. Closes below the 50-day moving average crossing at $185.69 would signal that a short-term top has been posted. First resistance is Thursday's high crossing at $197.56. Second resistance is March's high crossing at $197.78. First support is the 50-day moving average crossing at $185.69. Second support is the March 23rd low crossing at $173.44. 



June unleaded gas closed lower due to profit taking on Friday as it consolidated some of this week's 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 sideways to higher prices are possible near-term. If June extends the rally off March's low, March's high crossing at $212.80 is the next upside target. Closes below the 50-day moving average crossing at $199.03 would signal that a short-term top has likely been posted. First resistance is Thursday's high crossing at $211.89. Second resistance is March's high crossing at $212.80. First support is the 50-day moving average crossing at $199.03. Second support is the March 23rd low crossing at $186.18.  



June Henry natural gas posted an inside day with a higher close 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends this month's rally, the 87% retracement level of the February-March-decline crossing at 3.011. Closes below the 20-day moving average crossing at 2.756 would signal that a short-term top has been posted. First resistance is the 75% retracement level of the February-March-decline crossing at 2.943. Second resistance is the 87% retracement level of the February-March-decline crossing at 3.011. First support is the 10-day moving average crossing at 2.867. Second support is the 20-day moving average crossing at 2.756. 



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



The June Dollar closed sharply higher on Friday as it consolidated some of the decline off March'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 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 91.53 would signal that a short-term low has been posted. If June extends the decline off March's high, the 75% retracement level of the February-March-rally crossing 90.23 is the next downside target. First resistance is the 20-day moving average crossing at 91.53. Second resistance is the 50-day moving average crossing at 91.63. First support is Thursday's low crossing at 90.39. Second support is the 75% retracement level of the February-March-rally crossing 90.23.    



The June Euro closed sharply 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 a short-term top might be in or is near. Closes below the 20-day moving average crossing at 120.03 would signal that a short-term top has been posted. If June extends the rally off March's low, the 75% retracement level of the January-March-decline crossing at 122.27 is the next upside target. First resistance is Thursday's high crossing at 121.62. Second resistance is the 75% retracement level of the January-March-decline crossing at 122.27. First support is the 20-day moving average crossing at 120.03. Second support is the 50-day moving average crossing at 119.82. 



The June British Pound closed lower on Friday as it extends the March-April trading range. 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends today's decline, April's low crossing at 1.3752 is the next downside target. If June resumes the rally off April's low, February's high crossing at 1.4245 is the next upside target. First resistance is last-Tuesday's high crossing at 1.4012. Second resistance is February's high crossing at 1.4245. First support is today's low crossing at 1.3803. Second support is April's low crossing at 1.3671.

 

The June Swiss Franc closed lower on Friday as it consolidated some of this month's 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 the rally off April's low, the 62% retracement level of the January-April-decline crossing at 1.1117 is the next upside target. Closes below the 20-day moving average crossing at 1.0890 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 20-day moving average crossing at 1.0890. Second support is the 50-day moving average crossing at 1.0860.



The June Canadian Dollar closed lower due to profit taking on Friday as it consolidated some of this month's rally. If June extends Wednesday's rally, the February-2018 high crossing at 82.27 is the next upside target.The mid-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 this week's rally, the February-2018 high crossing at 82.27 is the next upside target. Closes below the 20-day moving average crossing at 80.08 would signal that a short-term top has been posted. First resistance is today's high crossing at 81.53. Second resistance is the February-2018 high crossing at 82.27. First support is the 10-day moving average crossing at 80.46. Second support is the 20-day moving average crossing at 80.08. 



The June Japanese Yen closed lower on Friday as it extends this week's decline. The low-range close sets the stage for a steady to lower opening when Monday’s night session begins trading. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends this week's decline, the April-9th low crossing at 0.0910 is the next downside target. If June renews the rally off March's low, the 50% retracement level of the January-March-decline crossing at 0.0939 is the next upside target. 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 today's low crossing at 0.915. Second support is the April-9th low crossing at 0.0910.  



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



June gold closed lower on Friday. 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 neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $1762.50 would signal that a short-term top has been posted. If June renews the rally off the March 31st low, the February 23rd high crossing at $1817.60 is the next upside target. First resistance is last-Wednesday's high crossing at $1798.40. Second resistance is the February 23rd high crossing at $1817.60. First support is the April-13th low crossing at $1723.20. Second support is March's low crossing at $1676.20.



July silver closed lower on Friday 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 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 25.794 would signal that a short-term top has been posted. If July renews 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 25.794. Second support is March's low crossing at 23.740. 



July copper closed lower on Friday as it consolidated some of this month's 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 July extends the aforementioned rally, the February-2011 high on the monthly continuation chart crossing at 464.95 is the next upside target. Closes below the 50-day moving average crossing at 415.41 would confirm that a short-term top has been posted. First resistance is Thursday's high crossing at 455.10. Second resistance is the February-2011 high on the monthly continuation chart crossing at 464.95. First support is the 10-day moving average crossing at 437.41. Second support is the 20-day moving average crossing at 423.99. 



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



July Corn closed up $0.25-cents at $6.73 1/4. 



July corn closed limit up 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 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 $5.96 would signal that a short-term top has been posted. First resistance is Tuesday's high crossing at $6.84. 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 $6.32. Second support is the 20-day moving average crossing at $5.96. 



July wheat closed up $0.05 3/4-cents at $7.34 3/4.  



July wheat 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 neutral to bullish signaling that sideways to higher prices are possible near-term. If July renews this year's rally, psychological resistance crossing at $8.00 is the next upside target. Closes below the 20-day moving average crossing at $6.70 1/2 would signal that a short-term top has been posted.First resistance is Tuesday's high crossing at $7.15 1/4. Second resistance is psychological resistance crossing at $8.00. First support is the 10-day moving average crossing at $7.07. Second support is the 20-day moving average crossing at $6.70 1/2.



July Kansas City Wheat closed up $0.09-cents at $7.03 1/2.

 

July Kansas City wheat closed higher on Friday ending a two-day correction 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 that sideways to lower prices are possible near-term. If July resumes the rally off March's low, the 38% retracement level of the 2008-2019-decline on the monthly continuation chart crossing at $7.64 1/4 is the next upside target. Closes below the 10-day moving average crossing at $6.75 1/4 would signal that a short-term top has been posted. First resistance is Tuesday's high crossing at $7.41 1/4. Second resistance is the 38% retracement level of the 2008-2019-decline on the monthly continuation chart crossing at $7.64 1/4.First support is the 10-day moving average crossing at $6.75 1/4. Second support is the 20-day moving average crossing at $6.32 3/4.



July Minneapolis wheat closed up $0.19 1/4-cents at $7.63 3/4. 



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 turning neutral to bullish signaling that sideways to higher prices are possible. If July extends the rally off April's low, psychological resistance crossing at $8.00 is the next upside target. Closes below the 20-day moving average crossing at $6.85 would confirm that a short-term top has been posted. First resistance is Tuesday's high crossing at $7.73 3/4. Second resistance is psychological resistance crossing at $8.00. First support is the 10-day moving average crossing at $7.20 3/4. Second support is the 20-day moving average crossing at $6.85.   

       

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



July soybeans closed up $0.33 1/2-cents at $15.35 3/4.



July soybeans 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends the rally off last-April's low, psychological resistance crossing at $16.00 is the next upside target. Closes below the 20-day moving average crossing at $14.52 would signal that a short-term top has been posted. First resistance is Tuesday's high crossing at $15.74 3/4. Second resistance is psychological resistance crossing at $16.00. First support is the 10-day moving average crossing at $15.01 1/4. Second support is the 20-day moving average crossing at $14.52.



July soybean meal closed up $3.90 to $426.90. 



July soybean meal 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 July extends this month's rally, January's high crossing at $458.20 is the next upside target. Closes below the 50-day moving average crossing at $412.20 would signal that a short-term top has been posted. First resistance is Monday's high crossing at $439.10. Second resistance is January's high crossing at $458.20. First support is the 50-day moving average crossing at $412.20. Second support is April's low crossing at $399.40.       



July soybean oil closed up 250-pts. at 62.39. 



July soybean oil closed sharply higher on Friday and posted a new high close for the year. 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 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 10-day moving average crossing at 58.89 would signal that a short-term top has been posted. First resistance is Tuesday'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 58.89. Second support is the 20-day moving average crossing at 55.27.      

 

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



June hogs closed up $3.00 at $109.73. 



June hogs closed limit up 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 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 $101.82 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 $101.82. Second support is the March 22nd low crossing at $97.62. 



June cattle closed up $0.23 at $116.28. 



June 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 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 $119.52 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at $119.52. Second resistance is the 50-day moving average crossing at $119.80. First support is last-Monday's low crossing at $114.55. Second support is the 50% retracement level of the October-April-rally crossing at $114.37. 



August Feeder cattle closed down $3.23 at $146.65. 


August Feeder cattle closed sharply lower on Friday as it renewed the decline off April's high. The low-range close sets the stage for a steady to lower 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 $154.67 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $150.33. Second resistance is the 20-day moving average crossing at $154.67. First support is today's low crossing at $146.30. Second support is January's low crossing at $144.62.            



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



July coffee 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 on Monday. Stochastics and the RSI are overbought and are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 13.48 would signal that a short-term top has been posted. If July renews the rally off March's low, the January-2019 high crossing at 15.16 is the next upside target.            



July cocoa closed sharply lower on Friday. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends today's decline, April's low crossing at 23.60 is the next downside target. Closes above Thursday's high crossing at 25.37 would confirm that a low has been posted.               



July sugar closed slightly higher on Friday. The high-range close sets the stage for a steady to higher opening on Monday. 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 16.23 would signal that a short-term top has been posted. If July extends this month's rally, weekly resistance crossing at 18.42 is the next upside target.        



July cotton closed higher on Friday ending a two-day correction off Tuesday's high. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 85.21 would signal that a short-term top has been posted. If July extends the rally off March's low, February's high crossing at 96.22 is the next upside target.          

Comments
By metmike - April 30, 2021, 8:44 p.m.
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Thanks tallpine!


Week in review compilation 2020/21

https://www.marketforum.com/forum/topic/68446/

This week

https://www.marketforum.com/forum/topic/68745/


Exports this week april 26, 2021

https://www.marketforum.com/forum/topic/68446/


Grains, new limits and more

https://www.marketforum.com/forum/topic/68450/


Our Planting progress, weather and more-mcfarmer in IA

https://www.marketforum.com/forum/topic/68475/


Natural Gas...>EIA was bearish on Thursday 

https://www.marketforum.com/forum/topic/68653/


crop planting/condition...........wheat plunges 4%.....especially HRW

https://www.marketforum.com/forum/topic/68551/


2021 GDP

https://www.marketforum.com/forum/topic/68578/


                Reviewing March Oil Post                        

                Started by stomper - April 29, 2021, 1:40 a.m.            

https://www.marketforum.com/forum/topic/68666/