KEY EVENTS TO WATCH FOR:

Friday, November 12, 2021  

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

                       Corn (Metric Tons) (previous 1223.8K)

                       Soybeans (Metric Tons) (previous 1863.9K)

                       Wheat (Metric Tons) (previous 400.1K)

10:00 AM ET. September Job Openings & Labor Turnover Survey

10:00 AM ET. November University of Michigan Survey of Consumers – preliminary

                       Mid-Mo Sentiment (previous 71.4)

                       Mid-Mo Expectations (previous 67.2)

                       Mid-Mo Current Idx (previous 77.9)

4:30 PM ET. Federal Discount Window Borrowings

4:30 PM ET. Foreign Central Bank Holdings

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

The STOCK INDEXES: The December NASDAQ 100 was higher overnight as it consolidates some of this week's decline. Overnight strength sets the stage for a steady to higher opening when the day 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 15,819.25 would signal that a short-term top has been posted. If December renews the rally off October's low into uncharted territory, upside targets will be hard project. First resistance is last-Friday's high crossing at 16,448.50. Second resistance is unknown. First support the 20-day moving average crossing at 15,819.25. Second resistance is the 50-day moving average crossing at 15,384.93.

The December S&P 500 was steady to slightly higher overnight as it consolidates some of this week's decline. Overnight strength sets the stage for a steady to higher opening when the day session begins trading later this morning. 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 4600.01 would signal that a short-term top has been posted. If December resumes the rally off October's low into uncharted territory, upside targets will be hard to project. First resistance is last-Friday's high crossing at 4711.75. Second resistance is unknown. First support is the 20-day moving average crossing at 4600.01. Second support is the 50-day moving average crossing at 4482.78. 

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

INTEREST RATES: December T-bonds were unchanged overnight as it consolidates some of Wednesday's decline. Overnight trading sets the stage for a steady opening when the day 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 160-14 would signal that a short-term top has been posted. If December resumes the rally off October's low, the September 22^nd high crossing at 164-16 is the next upside target. First resistance is the September 22^nd high crossing at 164-16. Second resistance is September's high crossing at 164-24. First support is the 10-day moving average crossing at 159-08. Second support is the 20-day moving average crossing at 160-14.

December T-notes were steady to slightly higher overnight as it consolidates some of this week's losses. Overnight strength sets the stage for a steady to higher opening with the day session begins trading. Stochastics and the RSI are becoming oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this week's decline, October's low crossing at 129.310 is the next downside target. Closes above the 50-day moving average crossing at 131.224 would open the door for a larger-degree rally near-term. First resistance is the 50-day moving average crossing at 131.224. Second resistance is the October 4^th high crossing at 132.085. First support is the October 29^th low crossing at 130.075. Second support is October's low crossing at 129.310.  

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

ENERGIES:December crude oil was lower overnight following Wednesday's key reversal down. Overnight weakness sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI have turned 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 $77.42 is the next downside target. If December renews 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 October's high crossing at $85.41. Second resistance is the October-2014 high on the monthly continuation chart crossing at $92.96. First support is the 50-day moving average crossing at $77.42. Second support is the October 7^th low crossing at $74.67.

December heating oil was lower overnight as it extends the decline off October's high. The low-range overnight trade sets the stage for a steady to lower opening when the day 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 50-day moving average crossing at 2.3790 would open the door for additional weakness near-term. Closes above Wednesday's high crossing at $2.5280 would confirm that a short-term low has been posted. First resistance is Wednesday's high crossing at $2.5280. Second resistance is October's high crossing at $2.5983. First support is the 50-day moving average crossing at $2.3790. Second support is the September 29^th low crossing at 2.2469.  

December unleaded gas was lower overnight as it extends the decline off October's high. The low-range trade overnight sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are becoming oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off October's high, the 50-day moving average crossing at 2.2465 is the next downside target. Closes above Wednesday's high crossing at 2.3977 would confirm that a short-term low has been posted. First resistance is Wednesday's high crossing at 2.3977. Second resistance is October's high crossing at 2.4684. First support is the 50-day moving average crossing at 2.2465. Second support is the October 7^th low crossing at 2.2073.

December Henry natural gas was lower overnight. Overnight weakness sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are oversold but are turning neutral to bullish hinting that a short-term low might be in or is near. Closes above the 20-day moving average crossing at 5.470 would signal that a short-term low has been posted. If December extends the decline off October's high, the 50% retracement level of the 2020-2021-rally crossing at 4.521 is the next downside target. First resistance is the November 4^th high crossing at 5.876. Second resistance is the October 27^th high crossing at 6.281. First support is Wednesday's low crossing at 4.725. Second support is the 50% retracement level of the 2020-2021-rally crossing at 4.521.    

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

CURRENCIES:The December Dollar was steady to slightly lower overnight due to light profit taking. 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 50% retracement level of the 2020-2021-decline on the weekly continuation chart crossing at $96.56 is the next upside target. Closes below the 20-day moving average crossing at $94.06 would signal that a short-term top has been posted. First resistance is the overnight high crossing at $95.27. Second resistance is the 50% retracement level of the 2020-2021-decline on the weekly continuation chart crossing at $96.56. First support is the 20-day moving average crossing at $94.06. Second support is the 50-day moving average crossing at 93.69.

The December Euro was steady to slightly higher overnight as it consolidates around the 62% retracement level of the 2020-2021-rally crossing at $114.57. The high-range overnight trade sets the stage for a steady to higher opening when the day 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 December extends the decline off September's high, the 75% retracement level of the 2020-2021-rally crossing at $112.48 is the next downside target. Closes above the 20-day moving average crossing at $115.94 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at $115.94. Second resistance is the 50-day moving average crossing at $116.61. First support is the 62% retracement level of the 2020-2021-rally crossing at $114.56. Second support is the 75% retracement level of the 2020-2021-rally crossing at $112.48.

The December British Pound was higher overnight as it consolidates some of the decline off October's high. Overnight strength sets the stage for a steady to higher opening when the day session beings trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off October's high, the 38% retracement level of the 2020-2021-rally crossing at 1.3223 is the next downside target. Closes above the 50-day moving average crossing at 1.3668 would signal that a short-term low has been posted. First resistance the 10-day moving average crossing at 1.3523. Second resistance is the 50-day moving average crossing at 1.3668. First support is the overnight low crossing at 1.3353. Second support is the 38% retracement level of the 2020-2021-rally crossing at 1.3223.

The December Swiss Franc was lower overnight as it extends this week's decline. Overnight weakness sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices possible near-term. If December extends this week's decline, the October 12^th low crossing at 1.0754 is the next downside target. Closes above the 10-day moving average crossing at 1.0944 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1.0924. Second resistance is the 10-day moving average crossing at 1.0944. First support is the October 12^th low crossing at 1.0754. Second support is September's low crossing at 1.0693.  

The December Canadian Dollar was lower overnight as it extends the decline off October's high. Overnight weakness sets the stage for a lower opening when the day 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 December extends the decline off October's high, the September 29^th low crossing at $78.27 is the next downside target. Closes above the 20-day moving average crossing at $80.56 would signal that a low has been posted. First resistance is the 50-day moving average crossing at $79.78. Second resistance is the 20-day moving average crossing at $80.56. First support is the overnight low crossing at $79.33. Second support is the September 29^th low crossing at $78.27.

The December Japanese Yen was steady to slightly higher overnight as it consolidates some off this week's decline. Overnight strength sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this week's decline, October's low crossing at 0.087215 is the next downside target. If December renews the rally off October's low, the 50-day moving average crossing at 0.089236 is the next upside target. First resistance is Tuesday's high crossing at 0.088735. Second resistance is the 50-day moving average crossing at 0.089236. First support is October's low crossing at 0.087215. Second support is long-term support on the monthly continuation chart crossing at 0.084932.

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

PRECIOUS METALS:Decembergold was lower overnight as it consolidates some of the rally off the rally off November's low. Overnight weakness sets the stage for a steady to lower opening when the day 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 87% retracement level of the June-August decline crossing at $1890.60 is the next upside target. Closes below the 20-day moving average crossing at $1803.40 would signal that a short-term top has been posted. First resistance is the 75% retracement level of the June-August decline crossing at $1861.30. Second resistance is the 87% retracement level of the June-August decline crossing at $1890.60. First support is the 10-day moving average crossing at $1818.30. Second support is the 20-day moving average crossing at $1803.40.

December silver was steady to slightly lower overnight as it consolidates some of this week's rally. The low-range trade sets the stage for a steady to lower opening when the day session begins trading later this morning. Stochastics and the RSI are becoming 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, August's high crossing at $26.130 is the next upside target. Closes below the 20-day moving average crossing at $24.200 would signal that a short-term top has been posted. First resistance is the overnight high crossing at $25.390. Second resistance is August's high crossing at $26.130. First support is the 20-day moving average crossing at $24.200. Second support is November's low crossing at $23.045.  

December copper was steady to lower overnight as it extends the trading range of the past two-weeks. The low-range overnight trade sets the stage for a steady to lower opening when the day 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 4.4526 would signal that a short-term low has been posted. If December resumes the decline off October's low, October's low crossing at 4.0585 is the next downside target. First resistance is the 20-day moving average crossing at 4.4526. Second resistance is October's high crossing at 4.8230. First support is last-Thursday's low crossing at 4.2800. Second resistance is October's low crossing at 4.0585.  

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

December corn was steady to lower overnight as it consolidates some of this week's gains. The low-range trade overnight sets the stage for a steady to lower opening when the day sessions 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 October's low, November's high crossing at $5.86 is the next upside target. Closes below the 20-day moving average crossing at $5.54 would signal that a short-term top has been posted. First resistance is November's high crossing at $5.86. Second resistance is August's high crossing at $5.94 1/4. First support is the 20-day moving average crossing at $5.54. Second support is 50-day moving average crossing at $5.37 1/4.   

December wheat was steady to lower overnight as it consolidates some of this week's gains. Overnight weakness sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are becoming overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends this year's rally, monthly resistance crossing at $8.59 is the next upside target. Closes below the 20-day moving average crossing at $7.70 3/4 would signal that a short-term top has been posted. First resistance is Thursday's high crossing at $8.24 3/4. Second resistance is monthly resistance crossing at $8.59. First support is the 20-day moving average crossing at $7.70 3/4. Second support is the 50-day moving average crossing at $7.39 3/4.

December Kansas City wheat was steady to lower overnight. The low-range overnight trade sets the stage for a lower opening when the day 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, the May-2014 high on the monthly continuation chart crossing at $8.55 1/2 is the next upside target. Closes below the 20-day moving average crossing at $7.84 3/4 would signal that a short-term top has been posted. First resistance is Thursday's high crossing at $8.38 3/4. Second resistance is the May-2014 high on the monthly continuation chart crossing at $8.55 1/2. First support is the20-day moving average crossing at $7.84 3/4. Second support is the 50-day moving average crossing at $7.45 3/4. 

December Minneapolis wheat was lower overnight as it consolidates some of this week's rally. Overnight weakness sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. If December renews the rally off September's low, weekly resistance crossing at $11.20 is the next upside target. Closes below Monday's low crossing at $10.05 would signal that a short-term top has been posted while opening the door for additional weakness near-term. First resistance is November's high crossing at $10.86 1/2. Second resistance is weekly resistance crossing at $11.20. First support is Monday's low crossing at $10.05. Second support is the 50-day moving average crossing at $9.59 1/2.  

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

January soybeans were steady to fractionally lower overnight. Overnight trading set the stage for a steady to slightly lower opening when the day session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at $12.56 would signal that a short-term low has been posted. If January renews the decline off August's high, the 50% retracement level of the 2020-2021-rally crossing at $11.55 1/2 is the next downside target.First resistance is the 20-day moving average crossing at $12.33. Second resistance is the 50-day moving average crossing at $12.56. First support is Tuesday's low crossing at $11.81 1/4. Second support is the 50% retracement level of the 2020-2021-rally crossing at $11.55 1/2.

December soybean meal was steady to higher overnight. Overnight strength sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are overbought, diverging but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off October's low, the 50% retracement level of the May-October decline crossing at $358.70 is the next upside target. Closes below the 20-day moving average crossing at $332.50 would signal that a short-term top has been posted. First resistance is October's high crossing at $347.30. Second resistance is the 50% retracement level of the May-October decline crossing at $358.70. First support is the 20-day moving average crossing at $332.50. Second support is October's low crossing at $309.30. 

December soybean oil was steady to lower overnight as it extends the trading range of the past six-days. Overnight weakness sets the stage for a steady to lower opening when the day 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 60.99 would signal that a short-term low has been posted. If December renews the decline off October's high, September's low crossing at 54.18 is the next downside target. First resistance is last-Tuesday's high crossing at 62.44. Second resistance is October's high crossing at 65.00. First support is the September 29^th low crossing at 57.02. Second support is September's low crossing at 54.18.       

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

December hogs closed down $0.40 at $75.30. 

December hogs closed lower on Thursday. The mid-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. If December renews the decline off September's high, the September low crossing at $71.27 is the next downside target. Closes above the 50-day moving average crossing at $77.55 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at $77.55. Second resistance is the October 18^th high crossing at $79.48. First support is October's low crossing at $71.77. Second support is September's low crossing at $71.27. 

December cattle closed down $0.13 at $131.87. 

December cattle closed lower on Thursday. The mid-range close sets the stage for a steady to lower opening on Friday. 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 fall's rally, the reaction high crossing at $134.13 is the next upside target. Closes below the 50-day moving average crossing at $129.43 would signal that a short-term top has been posted. First resistance is Monday's high crossing at $132.50. Second resistance is the reaction high crossing at $134.13. First support is the reaction low crossing at $128.25. Second support is October's low crossing at $125.00. 

January Feeder cattle closed up $0.90 at $158.95. 

November feeder cattle closed higher on Thursday. The high-range close sets the stage for a steady to higher opening when Friday's session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below today's low crossing at $157.50 would increase the odds that a short-term top has been posted. If January renews the rally off November's low, October's high crossing at $163.13 is the next upside target. First resistance is Monday's high crossing at $160.60. Second resistance is October's high crossing at $163.13. First support is November's low crossing at $150.77. Second support is June's low crossing at $149.17. 

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

December coffee closed higher on Thursday. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are neutral to bullish signaling that sideways trading is possible near-term. Closes above 215.15 or below 197.25 are needed to confirm a breakout of the October-November trading range.  

December cocoa closed slightly higher on Friday.  The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 25.26 would signal that a low has been posted. If December extends the decline, the 87% retracement level of the July-October rally crossing at 23.54 is the next downside target. 

March sugar closed sharply higher on Thursday. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off October's low, October's high crossing at 20.61 is the next upside target. If March renews the decline off October's high, the 25% retracement level of the 2020-2021-rally crossing at 18.54 is the next downside target. 

December cotton closed lower on Thursday. The mid-range close sets the stage for a steady to lower opening on Friday. 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 113.30 would signal that a short-term top has been posted.