KEY EVENTS TO WATCH FOR:
Monday, August 23, 2021
8:30 AM ET. July CFNAI Chicago Fed National Activity Index
NAI (previous 0.09)
NAI, 3-mo Moving Avg (previous 0.06)
9:45 AM ET. August US Flash Manufacturing PMI
PMI, Mfg (previous 63.1)
9:45 AM ET. August US Flash Services PMI
PMI, Services (previous 59.8)
10:00 AM ET. July Existing Home Sales
Existing Sales (previous 5.86M)
Existing Sales, M/M% (previous +1.4%)
Unsold Homes Month's Supply (previous 2.6)
Median Price (USD) (previous 363300)
Median Home Price, Y/Y% (previous +23.4%)
11:30 AM ET. Federal Reserve Board of Governors closed meeting (virtual)
Tuesday, August 24, 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 +15.6%)
Latest Wk, Y/Y% (previous +15.0%)
10:00 AM ET. August Richmond Fed Business Activity Survey
Mfg Idx (previous 27)
Shipments Idx (previous 21)
10:00 AM ET. July New Residential Sales
New Home Sales (previous 676K)
New Home Sales, M/M% (previous -6.6%)
New Home Sales Months Supply (previous 6.3)
1:00 PM ET. July Money Stock Measures
4:30 PM ET. API Weekly Statistical Bulletin
Crude Stocks, Net Chg (Bbls) (previous -1.2M)
Gasoline Stocks, Net Chg (Bbls) (previous -2.0M)
Distillate Stocks, Net Chg (Bbls) (previous +0.5M)
Wednesday, August 25, 2021
7:00 AM ET. MBA Weekly Mortgage Applications Survey
Composite Idx (previous 725.4)
Composite Idx, W/W% (previous -3.9%)
Purchase Idx-SA (previous 249.9)
Purchase Idx-SA, W/W% (previous -0.8%)
Refinance Idx (previous 3490.2)
Refinance Idx, W/W% (previous -5.3%)
8:30 AM ET. July Advance Report on Durable Goods
Durable Goods-SA, M/M% (previous +0.8%)
Dur Goods, Ex-Defense, M/M% (previous +1.0%)
Dur Goods, Ex-Transport, M/M% (previous +0.3%)
Orders: Cap Gds, Non-Def, Ex-Air, M/M% (previous +0.5%)
Shipmnts: Cap Gds, Non-Def, Ex-Air, M/M% (previous +0.6%)
10:30 AM ET. EIA Weekly Petroleum Status Report
Crude Oil Stocks (Bbl) (previous 435.544M)
Crude Oil Stocks, Net Chg (Bbl) (previous -3.233M)
Gasoline Stocks (Bbl) (previous 228.165M)
Gasoline Stocks, Net Chg (Bbl) (previous +0.696M)
Distillate Stocks (Bbl) (previous 137.814M)
Distillate Stocks, Net Chg (Bbl) (previous -2.697M)
Refinery Usage (previous 92.2%)
Total Prod Supplied (Bbl/day) (previous 21.463M)
Total Prod Supplied, Net Chg (Bbl/day) (previous +1.949M)
Thursday, August 26, 2021
8:30 AM ET. 2nd Quarter 2nd estimate GDP
Annual Rate, Q/Q% (previous +6.5%)
Chain-Weighted Price Idx, Q/Q% (previous +6.0%)
Corporate Profits, Q/Q% (previous +7.0%)
PCE Price Idx, Q/Q% (previous +6.4%)
Purchase Price Idx, Q/Q% (previous +5.7%)
Real Final Sales, Q/Q% (previous +7.7%)
Core PCE Price Idx, Q/Q% (previous +6.1%)
Consumer Spending, Q/Q% (previous +11.8%)
8:30 AM ET. 2nd Quarter Preliminary Corporate Profits
8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims
Jobless Claims (previous 348K)
Jobless Claims, Net Chg (previous -29K)
Continuing Claims (previous 2820000)
Continuing Claims, Net Chg (previous -79K)
8:30 AM ET. U.S. Weekly Export Sales
Corn (Metric Tons) (previous 726.6K)
Soybeans (Metric Tons) (previous 2209.8K)
Wheat (Metric Tons) (previous 306.7K)
9:45 AM ET. Bloomberg Consumer Comfort Index
10:30 AM ET. EIA Weekly Natural Gas Storage Report
Working Gas In Storage (Cbf) (previous 2822B)
Working Gas In Storage, Net Chg (Cbf) (previous +46B)
11:00 AM ET. August Federal Reserve Bank of Kansas City Survey of Tenth District Manufacturing
Mfg Activity Idx (previous 41)
6-Mo Exp Prod Idx (previous 48)
Mfg Composite Idx (previous 30)
6-Mo Exp Composite Idx (previous 33)
4:30 PM ET. Foreign Central Bank Holdings
4:30 PM ET. Federal Discount Window Borrowings
Friday, August 27, 2021
8:30 AM ET. July Personal Income & Outlays
Personal Income, M/M% (previous +0.1%)
Consumer Spending, M/M% (previous +1.0%)
PCE Price Idx, M/M% (previous +0.5%)
PCE Price Idx, Y/Y% (previous +4.0%)
PCE Core Price Idx, M/M% (previous +0.4%)
PCE Core Price Idx, Y/Y% (previous +3.5%)
8:30 AM ET. July Advance Economic Indicators Report
10:00 AM ET. August University of Michigan Survey of Consumers – final
End-Mo Sentiment Idx (previous 81.2)
End-Mo Expectations Idx (previous 79.0)
12-Month Inflation Forecast (previous 4.7%)
5-Year Inflation Forecast (previous 2.8%)
End-Mo Current Idx (previous 84.5)
The STOCK INDEXES? http://quotes.ino.com/ex?changes/?c=indexes
The Dow closed higher on Friday as it consolidates some of this week's decline.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 50-day moving average crossing at 34,725.84 would confirm that a short-term top has been posted. If the Dow renews this year's rally into uncharted territory, upside targets will be hard to project. First resistance is Monday's high crossing at 35,631.57. Second resistance is unknown. First support is the 50-day moving average crossing at 34,725.84. Second support is July's low crossing at 33,741.76.
The September NASDAQ 100 closed higher on Friday as it extended the rebound off Thursday'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 near-term. If September resumes this year's rally into uncharted territory, upside targets will be hard to project. Closes below the 50-day moving average crossing at 14,731.75 would confirm that a short-term top has been posted. First resistance is the August 5th high crossing at 15,172.50. Second resistance is unknown. First support is the 50-day moving average crossing at 14,731.75. Second support is the July low crossing at 14,445.00.
The September S&P 500 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 signaling that sideways trading is possible near-term. Closes below the 50-day moving average crossing at 4344.47 would signal a short-term trend change while opening the door for a possible test of July's low crossing at 4224.00. If September renews this year's rally into uncharted territory, upside targets will be hard to project. First resistance is Monday's high crossing at 4462.00. Second resistance is unknown. First support is the 50-day moving average crossing at 4344.47. Second support is July's low crossing at 4224.00.
INTEREST RATES? http://quotes.ino.com/ex?changes/?c=interest ""
September T-bonds closed down 3/32's pts. at 165-22.
September T-bonds closed lower on Friday as it consolidates some of the rally off August'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 neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off August's low, August's high crossing at 167-00 is the next upside target. If September renewed the decline off August's high, the 50-day moving average crossing at 162-25 is the next downside target. First resistance is the 75% retracement level of the 2020-2021-decline crossing at 167-00. Second resistance is the 87% retracement level of the 2020-2021-decline crossing at 169-10. First support is the 50-day moving average crossing at 162-25. Second support is the July 13th low crossing at 161-06.
September T-notes closed down 70-pts at 134.035.
September 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 neutral signaling sideways trading is possible near-term. If September extends the rally off last-Wednesday's low, August's high crossing at 135.140 is the next upside target. Closes below the 50-day moving average crossing at 133.157 would open the door for additional weakness near-term. First resistance is the 75% retracement level of the 2020-2021-decline crossing at 135.121. Second resistance is the 87% retracement level of the 2020-2021-decline crossing at 136.087. First support is the 50-day moving average crossing at 133.157. Second support is the July 14th low crossing at 132.300.
ENERGY MARKETS? http://quotes.ino.com/ex?changes/?c=energy ""
October crude oil closed lower on Friday as it extended the decline off the late-July high. The low-range close sets the stage for a steady to lower opening when Monday's night session begins. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If October extends the decline off the July 30th high, May's low crossing at $60.68 is the next downside target. Closes above the 50-day moving average crossing at $69.93 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $66.47. Second resistance is the 20-day moving average crossing at $68.52. First support is the overnight low crossing at $61.98. Second support is the May low crossing at $60.68.
October heating oil closed lower on Friday as it extended the decline off the late-July high. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If October renews the decline off the late-July high, the April 26th low crossing at $184.90 is the next downside target. Closes above the 50-day moving average crossing at $210.99 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $204.18. Second resistance is the 50-day moving average crossing at $210.99. First support is today's low crossing at $190.55. Second support is the April 26th low crossing at $184.90.
October unleaded gas closed lower on Friday as it extended the decline off August'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 October extends the decline off August's high, the 25% retracement level of the 2020-2021-rally crossing at $1.8585 is the next downside target. Closes above the 20-day moving average crossing at $2.0992 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at $2.0552. Second resistance is last-Thursday's high crossing at $2.1565. First support is today's low crossing at $1.8855. Second support is the 25% retracement level of the 2020-2021-rally crossing at $1.8585.
October Henry natural gas closed slightly higher on Friday as it consolidated some of the decline off August'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 October extends the decline off August's high, the 50-day moving average crossing at 3.737 is the next downside target. Closes above the 20-day moving average crossing at 3.993 would signal that a short-term low has been posted. First resistance is August's high crossing at 4.205. Second resistance is the November-2014 high on the monthly continuation chart crossing at 4.544. First support is Thursday's low crossing at 3.751. Second support is the 50-day moving average crossing at 3.737.
CURRENCIES? http://quotes.ino.com/ex?changes/?c=currencies ""
The September Dollar 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 September extends the rally off May's low, the 87% retracement level of the 2020-2021-decline crossing at 93.87 is the next upside target. Closes below the 20-day moving average crossing at 92.67 would signal that a short-term top has been posted. First resistance is today's high crossing at 93.75. Second resistance is the 87% retracement level of the 2020-2021-decline crossing at 93.87. First support is the 20-day moving average crossing at 92.67. Second support is the 50-day moving average crossing at 92.39.
The September Euro posted an inside day with a higher close on Friday as it consolidated some of the decline off May'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 remain neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends the decline off May's high, the 50% retracement level of the 2020-2021-rally crossing at 116.07 is the next downside target. Closes above the 20-day moving average crossing at 117.92 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 117.92. Second resistance is the 50-day moving average crossing at 118.57. First support is Thursday's low crossing at 116.71. Second support is the 50% retracement level of the 2020-2021-rally crossing at 116.07.
The September British Pound closed lower on Friday as it extended the decline off July's high. The low-range close sets the stage for a 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 September extends the decline off July's high, the 25% retracement level of the 2020-2021-rally crossing at 1.3578 is the next downside target. Closes above the 50-day moving average crossing at 1.3851 are needed to confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 1.3851. Second resistance is the July 30th high crossing at 1.3985. First support is the 25% retracement level of the 2020-2021-rally crossing at 1.3578. Second support is minor support crossing at 1.3471.
The September Swiss Franc posted an inside day with a higher close on Friday.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 neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends the decline off August's high, July's low crossing at 1.0801 is the next downside target. Closes above the 20-day moving average crossing at 1.0955 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1.0955. Second resistance is August's high crossing at 1.1100. First support is last-Wednesday's low crossing at 1.0828. Second support is July's low crossing at 1.0801.
The September Canadian Dollar closed lower on Friday as it extends the decline off the late-July'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 remain neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends the decline off July's high, the 50% retracement level of the 2020-2021-rally crossing at 76.02 is the next downside target. Closes above the 20-day moving average crossing at 79.56 signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 79.56. Second resistance is the 50-day moving average crossing at 80.10. First support is today's low crossing at 77.23. Second support is the 50% retracement level of the 2020-2021-rally crossing at 76.02.
The September Japanese Yen posted an inside day with a slightly lower close 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends this week's decline, August's low crossing at 0.090270 is the next downside target. Closes above Monday's high crossing at 0.091665 would renew the rally off August's low. First resistance is August's high crossing at 0.092000. Second resistance is May's high crossing at 0.092295. First support is last-Wednesday's low crossing at 0.090270. Second support is July's low crossing at 0.089605.
PRECIOUS METALS? http://quotes.ino.com/ex?changes/?c=metals ""
December gold closed slightly higher on Friday as it extends this week's trading range.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 neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at $1799.70 are needed to confirm that a short-term low has been posted. Closes below the 10-day moving average crossing at $1767.10 would temper the near-term friendly outlook. First resistance is the 50-day moving average crossing at $1799.70. Second resistance is August's high crossing at $1835.90. First support is August's low crossing at $1677.90. Second support is weekly support crossing at $1667.00.
September silver closed lower on Friday as it extends this week's decline. 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 turning neutral to bearish signaling that sideways to lower prices are possible near-term. If September resumes the decline off May's high, the 50% retracement level of the 2020-rally crossing at 21.344 is the next downside target. Closes above the 20-day moving average crossing at 24.329 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 24.329. Second resistance is the 50-day moving average crossing at 25.459. First support is August's low crossing at 22.295. Second support is the 50% retracement level of the 2020-rally crossing at 21.344.
September copper closed higher due to short covering on Friday as it consolidated some of the decline off August'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 and are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the decline off July's high, the 38% retracement level of the 2020-2021-rally crossing at 381.46 is the next downside target. Closes above the 20-day moving average crossing at 435.30 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 435.30. Second resistance is July's high crossing at 462.75. First support is Thursday's low crossing at 396.15. Second support is the 38% retracement level of the 2020-2021-rally crossing at 381.46.
GRAINS? http://quotes.ino.com/ex?changes/?c=grains "
December Corn closed down $0.13 3/4-cents at $5.37 1/4.
December corn closed lower on Friday as it extended the decline off August'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 neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this week's decline, July's low crossing at $5.07 is the next downside target. Closes above the 10-day moving average crossing at $5.59 3/4 would signal that a short-term low has been posted. First resistance is August's high crossing at $5.94 1/4. Second resistance is July's high crossing at $6.11 1/4. First support is today's low crossing at $5.32 1/2. Second support is July's low crossing at $5.07.
September wheat closed down $0.13 1/4-cents at $7.14 1/4.
September wheat closed lower on Friday and below the 20-day moving average crossing at $7.20 1/4 signaling that a short-term top has been posted. 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 bearish signaling that sideways to lower prices are possible near-term. If September extends this week's decline, the 50-day moving average crossing at $6.84 3/4 is the next downside target. Closes above the 10-day moving average crossing at $7.35 1/2 would temper the near-term bearish outlook. First resistance is August's high crossing at $7.74 3/4. Second resistance is the 50% retracement level of the 2008-2019-decline on continuation chart crossing at $8.59. First support is today's low crossing at $7.09 1/4. Second support is the 50-day moving average crossing at $6.84 3/4.
September Kansas City Wheat closed down $0.13 1/2-cents at $7.02.
September Kansas City wheat closed lower on Friday as it extended 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 are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $6.99 1/2 would signal that a short-term top has been posted. If September renews the rally off July's low, resistance on the monthly continuation chart crossing at $7.64 1/4 is the next upside target. First resistance is August's high crossing at $7.56 1/4. Second resistance on the monthly continuation chart crosses at $7.64 1/4. First support is the 20-day moving average crossing at $6.99 1/2. Second support is the 50-day moving average crossing at $6.54 1/2.
September Minneapolis wheat closed up $0.01 1/2-cents at $9.18 1/2.
September Minneapolis wheat closed higher on Friday as it consolidated some of this week's decline. 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 $9.14 1/4 would confirm that a short-term top has been posted. If September resumes the rally off June's low, the September-2011 high on the monthly continuation chart crossing at $9.83 1/2 is the next upside target. First resistance is last-Friday's high crossing at $9.53. Second resistance is the September-2012 high on the monthly continuation chart crossing at $9.83 1/4. First support is the July 26th low crossing at $8.70. Second support is the 50-day moving average crossing at $8.62 3/4.
SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains "
November soybeans closed down $0.29 1/4-cents at $12.90 3/4.
November soybeans closed sharply lower on Friday as it lost $0.75 3/4 for the week. 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 November extends the decline off Tuesday's high, the June 25th low crossing at $12.59 3/4 is the next downside target. Closes above the 20-day moving average crossing at $13.71 1/4 would signal that a short-term low has been posted. First resistance is Tuesday's high crossing at $13.79 3/4. Second resistance is the July 19th high crossing at $14.18. First support is today's low crossing at $12.77 1/4. Second support is the June 25th low crossing at $12.59 3/4.
December soybean meal closed up $1.40 at $355.00.
December 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off July's high, June's low crossing at $347.00 is the next downside target. Closes above the 50-day moving average crossing at $364.50 would signal that a double bottom with June's low has been posted. First resistance is the 50-day moving average crossing at $364.50. Second resistance is the July 21st high crossing at $375.70. First support is August's low crossing at $348.60. Second support is June's low crossing at $347.00.
December soybean oil closed down 327-pts. at 56.65.
December soybean oil closed sharply lower on Friday as it extended 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 are neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off July's high, June's low crossing at 53.10 is the next downside target. Closes above the 20-day moving average crossing at 62.64 are needed to confirm that a short-term low has been posted. First resistance is Monday's high crossing at 64.45. Second resistance is the July 29th high crossing at 66.55. First support is today's low crossing at 57.12. Second support is June's low crossing at $53.10.
LIVESTOCKhttp://quotes.ino.com/exchanges/?c=livestock
October hogs closed up $1.65 at $88.58.
October hogs closed higher on Friday. 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 neutral to bullish signaling that sideways to higher prices are possible near-term. Multiple closes above the 20-day moving average crossing at $88.34 would confirm that a short-term low has been posted. If October resumes the decline off July's high, June's low crossing at $80.90 is the next downside target. First resistance is August's high crossing at $91.73. Second resistance is July's high crossing at $94.05. First support is last-Tuesday's low crossing at $83.32. Second support is June's low crossing at $80.90.
October cattle closed up $0.93 at $129.08.
October cattle closed higher on Friday as it extends the July-August trading range. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If October renews the rally off the July 19th low, June's high crossing at $130.48 is the next upside target. Closes below the 50-day moving average crossing at $127.53 would signal that a short-term top has been posted. First resistance is July's high crossing at $129.93. Second resistance is June's high crossing at $130.48. First support is the August 6th low crossing at $125.82. Second support is the July 19th low crossing at $124.05.
September Feeder cattle closed up $2.60 at $165.50.
September feeder cattle closed sharply higher on Friday due to weakness in grains and posted a new high for the year. The high-range close sets the stage for a steady to higher opening when Monday's session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off May's low, the 50% retracement level of the 2014-2020-decline on the monthly continuation chart crossing at $174.84 is the next upside target. Closes below the 50-day moving average crossing at $160.79 would confirm that a short-term top has been posted. First resistance is today's high crossing at $165.78. Second resistance is the 50% retracement level of the 2014-2020-decline on the monthly continuation chart crossing at $174.84. First support is the 50-day moving average crossing at $160.79. Second support is the July 19th low crossing at $156.58.
FOOD & FIBERhttp://quotes.ino.com/ex changes/?c=food
September coffee closed lower on Friday as it extended the decline off last-Friday's high. The high-range close sets the stage for a steady to slightly 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 last-Friday's high crossing at $187.35 would signal that a short-term low has been posted. If September renews the decline off July's high, the 50-day moving average crossing at $168.63 is the next downside target.
December cocoa closed sharply lower on Friday as it consolidated some of the rally off July'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 sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 25.21 would signal that a short-term top has been posted. If December extends the rally off July's low, weekly resistance on the continuation chart crossing at 27.07 is the next upside target.
October sugar closed lower due to profit taking on Friday as it consolidates some of the rally off July'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 October extends the rally off July's low, the February-2017 high on the monthly continuation chart crossing at 21.49 is the next upside target. Closes below the 20-day moving average crossing at 18.97 would signal that a short-term top has been posted.
December cotton 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 91.71 would signal that a short-term top has been posted. If December resumes the rally off May's low, weekly resistance on the continuation chart crossing at 97.35 is the next upside target.
Thanks tallpine!