KEY EVENTS TO WATCH FOR:
Monday, November 1, 2021
9:45AM ET. October US Manufacturing PMI
PMI, Mfg (previous 60.7)
10:00 AM ET. October ISM Report On Business Manufacturing PMI
Manufacturing PMI (previous 61.1)
Prices Idx (previous 81.2)
Employment Idx (previous 50.2)
Inventories (previous 55.6)
New Orders Idx (previous 66.7)
Production Idx (previous 59.4)
10:00 AM ET. September Construction Spending - Construction Put in Place
New Construction (previous +0%)
Residential Construction
Tuesday, November 2, 2021
7:45 PM 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 +15.3%)
Latest Wk, Y/Y% (previous +15.6%)
10:00 AM ET. November IBD/TIPP Economic Optimism Index
Economic Optimism Idx (previous 46.8)
6-Mo Economic Outlook (previous 41.3)
10:00 AM ET. 3rd Quarter U.S. Housing Vacancies
11:00 AM ET. October Global Manufacturing PMI
PMI, Mfg (previous 54.1)
4:00 PM ET. October Domestic Auto Industry Sales
4:30 PM ET. API Weekly Statistical Bulletin
Crude Stocks, Net Chg (Bbls) (previous +2.3M)
Gasoline Stocks, Net Chg (Bbls) (previous +0.5M)
Distillate Stocks, Net Chg (Bbls) (previous +1.0M)
N/A U.S. General Elections, including New York mayoral election
N/A U.S. Federal Open Market Committee meeting
Wednesday, November 3, 2021
7:00 AM ET. MBA Weekly Mortgage Applications Survey
Composite Idx (previous 645.1)
Composite Idx, W/W% (previous +0.3%)
Purchase Idx-SA (previous 275.6)
Purchase Idx-SA, W/W% (previous +3.5%)
Refinance Idx (previous 2763.8)
Refinance Idx, W/W% (previous -1.6%)
8:15 AM ET. October ADP National Employment Report
Private Sector Jobs, Net Chg (previous +568000)
8:30 AM ET. U.S. Department of the Treasury's quarterly refundingannouncement
9:45 AM ET. October US Services PMI
PMI, Services (previous 54.9)
10:00 AM ET. October ISM Report On Business Services PMI
Non-Mfg Composite Idx (previous 61.9)
Non-Mfg Business Idx (previous 62.3)
Prices Idx (previous 77.5)
Employment Idx (previous 53.0)
New Orders Idx (previous 63.5)
10:00 AM ET. September Manufacturers' Shipments, Inventories & Orders (M3)
Total Orders, M/M% (previous +1.2%)
Orders, Ex-Defense, M/M% (previous +1.5%)
Orders, Ex-Transport, M/M% (previous +0.5%)
Durable Goods, M/M% (previous +1.8%)
Durable Goods, M/M%
10:00 AM ET. September Metropolitan Area Employment & Unemployment
10:00 AM ET. SEC Asset Management Advisory Committee Meeting (virtual)
10:30 AM ET. EIA Weekly Petroleum Status Report
Crude Oil Stocks (Bbl) (previous 430.812M)
Crude Oil Stocks, Net Chg (Bbl) (previous +4.268M)
Gasoline Stocks (Bbl) (previous 215.746M)
Gasoline Stocks, Net Chg (Bbl) (previous -1.993M)
Distillate Stocks (Bbl) (previous 124.962M)
Distillate Stocks, Net Chg (Bbl) (previous -0.432M)
Refinery Usage (previous 85.1%)
Total Prod Supplied (Bbl/day) (previous 19.832M)
Total Prod Supplied, Net Chg (Bbl/day) (previous -2.0M)
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
Thursday, November 4, 2021
7:30 AM ET. October Challenger Job-Cut Report
Job Cuts, M/M% (previous +13.81%)
8:30 AM ET. U.S. Weekly Export Sales
Corn (Metric Tons) (previous 890.5K)
Soybeans (Metric Tons) (previous 1183.4K)
Wheat (Metric Tons) (previous 269.3K)
8:30 AM ET. 3rd Quarter Preliminary Productivity & Costs
Non-Farm Productivity, Q/Q% (previous +2.3%)
Unit Labor Costs (previous +1.0%)
8:30 AM ET. September U.S. International Trade in Goods & Services
Trade Balance (USD) (previous -73.3B)
Exports (USD) (previous 213.7B)
Exports, M/M% (previous +0.5%)
Imports (USD) (previous 287.0B)
Imports, M/M% (previous +1.4%)
8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims
Jobless Claims (previous 281K)
Jobless Claims, Net Chg (previous -10K
Continuing Claims
Continuing Claims, Net Chg
9:45 AM ET. Bloomberg Consumer Comfort Index
10:30 AM ET. EIA Weekly Natural Gas Storage Report
Working Gas In Storage (Cbf) (previous 3548B
Working Gas In Storage, Net Chg (Cbf) (previous +87B)
11:00 AM ET. October Global Services PMI
PMI, Services (previous 53.4)
12:00 PM ET. October Monthly U.S. Retail Chain Store Sales Index
4:30 PM ET. Foreign Central Bank Holdings
4:30 PM ET. Federal Discount Window Borrowings
N/A U.S: Will Rogers Day in Oklahoma
Friday, November 5, 2021
8:30 AM ET. AM ET. October U.S. Employment Report
Non-Farm Payrolls (previous +194K)
Unemployment Rate (previous 4.8%)
Avg Hourly Earnings (USD) (previous 30.85)
Avg Hourly Earnings-Net Chg (USD) (previous +0.19)
Avg Hourly Earnings, M/M% (previous +0.62%)
Avg Hourly Earnings, Y/Y% (previous +4.58%)
Overall Workweek (previous 34.8)
Overall Workweek Net Chg (previous +0.2)
Government Payrolls (previous -123K)
Private Payroll (previous +317K)
Participation Rate (previous 61.6%)
Non-Farm Payrolls Bench Net Chg
3:00 PM ET. September Consumer Credit
Consumer Credit Net Chg (USD) (previous +14.4B)
The STOCK INDEXES? http://quotes.ino.com/ex?changes/?c=indexes
The Dow closed slightly 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 overbought but remain neutral to bullish signaling that signaling that sideways to higher prices are possible near-term. If the Dow extends this year's rally, upside targets will be hard to project. Closes below the 20-day moving average crossing at 35,088.68 would signal that a short-term top has been posted. First resistance is Tuesday's high crossing at 35,892.92. Second resistance is unknown. First support is the 10-day moving average crossing at 35,607.59. Second support is the 20-day moving average crossing at 35,088.68.
The December NASDAQ 100 closed higher on Friday as it extends the rally off October'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 remains neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the aforementioned rally, upside targets will be hard to project. Closes below the 20-day moving average crossing at 15,146.07 would signal that a short-term top has been posted. First resistance is today's high crossing at 15,808.75. Second resistance is unknown. First support is the 10-day moving average crossing at 15,506.00. Second support is the 50-day moving average crossing at 15,240.28.
The December S&P 500 was slightly lower 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 sideways to higher prices are possible near-term. If you extend this year's rally, upside targets will be hard to project. Closes above the 20-day moving average crossing at 4456.34 would confirm that a short-term top has been posted. First resistance is today's high crossing at 4596.75. Second resistance is unknown. First support is the 10-day moving average crossing at 4546.60. Second support is the 20-day moving average crossing at 4456.34.
INTEREST RATES? http://quotes.ino.com/ex?changes/?c=interest ""
December T-bonds closed up 16/32's at 160-31
December T-bonds 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 December extends the off September's high, the June 16th low crossing at 156-15 is the next downside target. Closes above the 50-day moving average crossing at 161-05 would signal that a short-term trend change has taken place. First resistance is the 50-day moving average crossing at 161-05. Second resistance is the September 22nd high crossing at 164-16. First support is the 62% retracement level of the March-August rally crossing at 157-13. Second support is the June 16th low crossing at 156-15.
December T-notes closed up 10-pts at 130.250.
December 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 are neutral to bullish signaling sideways to higher prices are possible near-term. If December extends the rally off October's low, the October 14th high crossing at 131.195 is the next upside target. If December renews the decline off August's high, the 50% retracement level of the 2018-2020-rally on the monthly continuation chart crossing at 129.035 is the next downside target. First resistance is the 20-day moving average crossing at 131.002. Second resistance is the October 14th high crossing at 131.195. First support is October's low crossing at 130.045. Second support is the 50% retracement level of the 2018-2020-rally on the monthly continuation chart crossing at 129.035.
ENERGY MARKETS? http://quotes.ino.com/ex?changes/?c=energy ""
December 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 20-day moving average crossing at $81.15 would confirm that a short-term top has been posted. If December extends the rally off August's low, the October-2014 high on the monthly continuation chart crossing at $92.96 is the next upside target. First resistance is Monday's high crossing at $85.41. Second resistance isthe October-2014 high on the monthly continuation chart crossing at $92.96.First support is the 20-day moving average crossing at $81.15. Second support is the September 30th low crossing at $72.82.
December heating oil closed slightly lower on Friday as it consolidates some of the rally off August's low. The mid-range close sets the stage for a steady to lower 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. If December extends this week's decline, the 50-day moving average crossing at $230.32 is the next downside target. If December renews the rally off August's low, the 62% retracement level of the 2008-2020-decline on the monthly continuation chart crossing at $279.19 is the next upside target. First resistance is October's high crossing at $259.83. Second resistance is the 62% retracement level of the 2008-2020-decline on the monthly continuation chart crossing at $279.19. First support is the October 7th low crossing at $236.78. Second support is the 50-day moving average crossing at $230.32.
December unleaded gas closed slightly 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 remain neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below Thursday's low crossing at $231.78 would signal that a short-term top has been posted. If December extends the rally off August's low, the January-2014 high on the monthly continuation chart crossing at 250.10 is the next upside target. First resistance is last-Thursday's high crossing at $245.48. Second resistance is the January-2014 highon the monthly continuation chart crossing at 250.10. First support is Thursday's low crossing at $231.78. Second support is the October 7th low crossing at $220.73.
December Henry natural gas closed lower on Friday as it appears to have completed the right shoulder of a head and shoulder's top. 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 bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 5.295 would open the door for additional weakness. If December extends the rally off October's low, October's high crossing at 6.593 is the next upside target. First resistance is Wednesday's high crossing at 6.281. Second resistance is October's high crossing at 6.593. First support is the 50-day moving average crossing at 5.295. Second support is the September 21st low crossing at 4.879.
CURRENCIES? http://quotes.ino.com/ex?changes/?c=currencies ""
The December Dollar 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. Today's close above the 20-day moving average crossing at $93.94 signals that a short-term low has been posted. Closes below the 50-day moving average crossing at $93.35 would confirm that a short-term top has been posted. First resistance is October's high crossing at 94.57. Second resistance is the 38% retracement level of the 2020-2021-decline crossing at $94.82. First support is the 50-day moving average crossing at $93.35. Second support is the September 23rd low crossing at $92.97.
The December Euro closed sharply 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 bearish signaling that sideways to lower prices are possible near-term. Closes below the October's low crossing at 115.37 would renew the decline off May's high. Closes above the 50-day moving average crossing at 117.13 would confirm that a low has been posted. First resistance is the 50-day moving average crossing at 117.13. Second resistance is the September 22nd high crossing at 117.75. First support is October's low crossing at 115.38. Second support is the 62% retracement level of the 2020-2021-rally crossing at 114.56.
The December British Pound 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 still possible. If December extends the rally off September's low, September's high crossing at 1.3917 is the next upside target. Today's close below the 20-day moving average crossing at 1.3687 signals that a short-term top has been posted. First resistance is last-Thursday's high crossing at 1.3832. Second resistance is September's high crossing at 1.3917. First support is today's low crossing at 1.3669. Second support is the October 12th low crossing at 1.3568.
The December Swiss Franc closed lower on Friday as it consolidated some of the rally off September'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 December extends the rally off September's low, the 62% retracement level of the June-August decline crossing at 1.1033 is the next upside target. Closes below the 20-day moving average crossing at 1.0857 would confirm that a short-term top has been posted while opening the door for additional weakness near-term. First resistance is today's high crossing at 1.1999. Second resistance is the 62% retracement level of the June-August decline crossing at 1.1033. First support is the 20-day moving average crossing at 1.0857. Second support is September's low crossing at 1.0693.
The December Canadian Dollar closed slightly 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 20-day moving average crossing at 80.47 would signal that a short-term top has been posted. If December renews the rally off September's low, the 75% retracement level off the June-August decline crossing at 81.72 is the next upside target. First resistance is the June 26th high crossing at 81.55. Second resistance is the 75% retracement level off the June-August decline crossing at 81.72. First support is the 20-day moving average crossing at 80.47. Second support is the 50-day moving average crossing at 79.55.
The December Japanese Yen closed lower on Friday as it extend the trading range pf 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 0.088388 would confirm that a short-term low has been posted. If December renews the decline off September's high, the December-2016 low on the monthly continuation chart crossing at 0.084275 is the next downside target. First resistance is the 20-day moving average crossing at 0.088388. Second resistance is the 50-day moving average crossing at 0.089859. First support is last-Wednesday's low crossing at 0.087215. Second support is the December-2016 low on the monthly continuation chart crossing at 0.084275.
PRECIOUS METALS? http://quotes.ino.com/ex?changes/?c=metals ""
December gold 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 have turned neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $1778.40 would signal that a short-term top has been posted. If December extends the rally off September's low, September's high crossing at $1836.90 is the next upside target. First resistance is last Friday's high crossing at $1815.50. Second resistance is September's high crossing at $1836.90. First support is September's low crossing at $1721.10. Second support is August's low crossing at $1677.90.
December silver 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 acreage crossing at 23.474 would confirm that a short-term top has been posted. If December extends the rally off September's low, August's high crossing at 26.130 is the next upside target. First resistance is September's high crossing at 24.945. Second resistance is August's high crossing at 26.130. First support is the 20-day moving average crossing at 23.474. Second support is September's low crossing at 21.410.
December copper 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 are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 434.28 would signal that a short-term top has been posted. If December renews the rally off August's low, May's high crossing at 487.05 is the next upside target. First resistance is October's high crossing at 482.30. Second resistance is May's high crossing at 487.05. First support is the 50-day moving average crossing at 434.28. Second support is the September 30th low crossing at 405.45.
GRAINS? http://quotes.ino.com/ex?changes/?c=grains "
December Corn closed up $0.06 1/4-cents at $5.69.
December corn closed higher on Friday as it extended 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 December extends this month's rally, August's high crossing at $5.94 1/4 is the next upside target. Closes below the 50-day moving average crossing at $5.32 1/2 would signal that a short-term top has been posted. First resistance is the today's high crossing at $5.69 1/4. Second resistance is August's high crossing at $5.94 1/4. First support is the 10-day moving average crossing at $5.44 1/4. Second support is the 50-day moving average crossing at $5.32 1/2.
December wheat closed up $0.00 1/2-cents at $7.73.
December wheat closed fractionally higher on Friday. The med-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 bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off September's low, August's high crossing at $7.86 1/2 is the next upside target. Closes below the 20-day moving average crossing at $7.80 would signal that a short-term top has been posted.First resistance is today's high crossing at $7.80. Second resistance is the August high crossing at $7.86 1/2. First support is the 20-day moving average crossing at $7.80. Second support is the 50-day moving average crossing at $7.27 1/2.
December Kansas City Wheat closed down $0.04 1/4-cents at $7.85 3/4.
December Kansas City wheat 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 to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off September's low, psychological resistance crossing at $8.00 is the next upside target. Closes below the 20-day moving average crossing at $7.54 would confirm that a short-term top has been posted. First resistance is Thursday's high crossing at $7.97 1/45. Second resistance is psychological resistance crossing at $8.00. First support is the 20-day moving average crossing at $7.54. Second support is the 50-day moving average crossing at $7.29.
December Minneapolis wheat closed up $0.14 3/4-cents at $10.52 1/4.
December Minneapolis 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends this year's rally, monthly resistance on the continuation chart crossing at $11.20 is the next upside target. Closes below the 20-day moving average crossing at $9.77 1/2 would signal that a short-term top has been posted. First resistance is today's high crossing at $10.58. Second resistance is monthly resistance on the continuation chart crossing at $11.22. First support is the 10-day moving average crossing at $10.09. Second support is the 20-day moving average crossing at $9.77 1/2.
SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains "
November soybeans closed up $0.01 3/4-cents at $12.35 1/2.
November soybeans closed higher on Friday. Today's mid-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 bullish signaling that sideways to higher prices are possible near-term. Multiple closes above the 50-day moving average crossing at $12.64 1/2 would signal that a short-term low has been posted. If November renews the decline off August's high, the 62% retracement level of the 2020-2021-rally crossing at $11.52 1/2 is the next downside target. First resistance is the 50-day moving average crossing at $12.64 1/2. Second resistance is the September 30th high crossing at $12.95. First support is Monday's low crossing at $12.16. Second support is the 62% retracement level of the 2020-2021-rally crossing at $11.52 1/2.
December soybean meal closed up $2.00 at $332.90.
December soybean meal 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 remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off last week's low, the 50-day moving average crossing at $334.60 is the next upside target. If December renews the decline off July's high, the 87% retracement level of the 2020-2021 rally crossing at $307.30 is the next downside target. First resistance is the 50-day moving average crossing at $334.60. Second resistance is September's high crossing at $347.30. First support is the 20-day moving average crossing at $322.40. Second support is the 87% retracement level of the 2020-2021 rally crossing at $307.30.
December soybean oil closed up 39-pts. at 61.26.
December soybean oil closed higher on Friday as it consolidates some of the decline off October's high. 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. Multiple closes below the 20-day moving average crossing at 61.37 would signal that a short-term top has been posted. If December extends the rally off September's low, July's high crossing at 66.34 is the next upside target. First resistance is last-Thursday's high crossing at 65.00. Second resistance is July's high crossing at 66.34. First support is the 20-day moving average crossing at 61.37. Second support is the October 12th low crossing at 58.52.
LIVESTOCKhttp://quotes.ino.com/exchanges/?c=livestock
December hogs closed up $0.80 at $76.00.
December hogs closed higher on Friday as it consolidated some of the decline off October's high. 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at $77.56 would signal that a short-term low has been posted. If December extends the aforementioned decline, the September low crossing at $71.27 is the next downside target. First resistance is the 20-day moving average crossing at $77.56. Second resistance is the 50-day moving average crossing at $78.63. First support is Wednesday's low crossing at $73.88. Second support is September's low crossing at $71.27.
December cattle closed down $1.03 at $129.30.
December cattle closed lower on Friday. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI have turning neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this week's decline, the reaction low crossing at $127.12 is the next downside target. Closes above Wednesday's high crossing at $131.92 would open the door for a larger-degree rally. First resistance is Wednesday's high crossing at $131.92. Second resistance is minor resistance crossing at $133.08. First support is the reaction low crossing at $128.25. Second support is October's low crossing at $125.00.
November Feeder cattle closed down $1.07 at $156.57.
November feeder cattle closed sharply lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If November renews the rally off September's low, the 50-day moving average crossing at $160.91 is the next upside target. First resistance is the 50-day moving average crossing at $160.91. Second resistance is the reaction high crossing at $162.48. First support is today's low crossing at $156.17. Second support is September's low crossing at $152.00.
FOOD & FIBERhttp://quotes.ino.com/ex changes/?c=food
December coffee closed 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. If December extends this week's decline, the 50-day moving average crossing at $195.24 is the next downside target, If December renews the rally off September's low, July's high crossing at $217.86 is the next upside target.
December cocoa closed lower on Friday. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline, the 62% retracement level of the July-October rally crossing at 24.81 is the next downside target. Closes above the 20-day moving average crossing at 26.28 would signal that a low has been posted.
March sugar closed 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 bearish signaling that sideways to lower prices are possible near-term. If March renews this month's decline, the 25% retracement level of the 2020-2021-rally crossing at 18.54 is the next downside target. Closes above the 50-day moving average crossing at 19.91 would signal that a short-term low has been posted.
December cotton closed 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 bullish signaling that sideways to higher prices are possible near-term. If December renews the rally off September's low, the 50% retracement level of the 2011-2020 decline on the monthly continuation chart crossing at 134.17 is the next upside target. Closes below the 20-day moving average crossing at 108.90 would signal that a short-term top has been posted.
Thanks much Tallpine..........we missed you!