KEY EVENTS TO WATCH FOR:
Thursday, November 25, 2021
N/A Marianas: Thanksgiving Day
N/A U.S.: Thanksgiving Day. Financial markets closed
Friday, November 26, 2021
8:30 AM ET. U.S. Weekly Export Sales
Corn (Metric Tons) (previous 1044.6K)
Soybeans (Metric Tons) (previous 1374.9K)
Wheat (Metric Tons) (previous 399.1K)
1:00 PM ET. U.S. financial markets close early after Thanksgiving
4:30 PM ET. Foreign Central Bank Holdings
4:30 PM ET. Federal Discount Window Borrowings
The STOCK INDEXES? http://quotes.ino.com/ex?changes/?c=indexes
The Dow closed lower on Wednesday as it extends the decline off November's high. The high-range close sets the stage for a steady to higher opening when Friday's 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 the Dow extends the aforementioned decline, the 50-day moving average crossing at 35,257.63 is the next downside target. If the Dow renews this year's rally, upside targets will be hard to project. First resistance is November's high crossing at 36,565.73. Second resistance is unknown. First support is the 50-day moving average crossing at 35,257.63. Second support is the October 13th low crossing at 34,115.10.
The December NASDAQ 100 closed higher on Wednesday as it consolidates some of this week's decline. The high-range close sets the stage for a steady to higher opening when Friday's 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 15,194.01 would signal that a short-term top has been posted. If December renews the rally off October's low, upside targets will be hard to project. First resistance is Monday's high crossing at 16,767.50. Second resistance is unknown. First support is the 20-day moving average crossing at 15,194.01. Second support is the 50-day moving average crossing at 15,520.94.
The December S&P 500 was slightly higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Friday's session begins trading. Stochastics and the RSI are neutral to bearish signaling sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 4664.04 would confirm that a short-term top has been posted. If December extends this year's rally, upside targets will be hard to project. First resistance is Monday's high crossing at 4740.50. Second resistance is unknown. First support is the 20-day moving average crossing at 4664.04. Second support is the October 27th low crossing at 4543.75.
INTEREST RATES? http://quotes.ino.com/ex?changes/?c=interest ""
December T-bonds closed up 23/32's at 160-03
December T-bonds closed higher on Wednesday as it consolidated some of this week's decline. The high-range close sets the stage for a steady to higher opening when Friday'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. Closes below the 20-day moving average crossing at 161-02 would signal that a low has been posted. If December extends the decline off November's high, October's low crossing at 157-03 is the next downside target. First resistance is last-Friday's high crossing at 162-04. Second resistance is November's high crossing at 164-01. First support is today's low crossing at 158-29. Second support is the 62% retracement level of the March-August rally crossing at 157-13.
December T-notes closed up 25-pts at 129.270.
December T-notes closed higher on Wednesday as it consolidated some of the decline off last-Friday's high. The mid-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling sideways to lower prices are possible near-term. If December extends 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. Closes above the 20-day moving average crossing at 130.219 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 130.219. Second resistance is the 50-day moving average crossing at 131.067. First support is today's low crossing at 129.160. 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 ""
January crude oil closed slightly lower on Wednesday.The low-range close sets the stage for a steady to lower opening when Friday's night session begins. 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 $79.70 would signal that a short-term low has been posted. If January extends the decline off October's high, the 50% retracement level of the August-October rally crossing at $72.30 is the next downside target. First resistance is the 20-day moving average crossing at $79.70. Second resistance is October's high crossing at $83.83. First support is the 38% retracement level of the August-October rally crossing at $75.03. Second support is the 50% retracement level of the August-October rally crossing at $72.30.
January heating oil closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Friday's night trading session begins. Stochastics and the RSI are neutral to0 bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at $241.49 would signal that a short-term low has been posted. If January extends the decline off October's high, the 50% retracement level of the August-October rally crossing at $223.93 is the next downside target. First resistance is the 20-day moving average crossing at $241.49. Second resistance is October's high crossing at $258.40. First support is the 50% retracement level of the August-October rally crossing at $223.93. Second support is the 62% retracement level of the August-October rally crossing at $215.73
January unleaded gas closed lower on Wednesday. The mid-range close sets the stage for a steady to lower opening when Friday'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 20-day moving average crossing at $227.69 are needed to confirm that a short-term low has been posted. If January renews the decline off October's high, the 50% retracement level of the August-October rally crossing at $210.36 is the next downside target. First resistance is the November 10th high crossing at $235.05. Second resistance is November's highcrossing at $238.25. First support is Tuesday's low crossing at $212.88. Second support is the 50% retracement level of the August-October rally crossing at $210.36.
January Henry natural gas closed higher on Wednesday. The mid-range close sets the stage for a steady to higher opening when Friday'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 January extends the decline off October's high, the 50% retracement level of the 2020-2021-rally crossing at 4.623 is the next downside target. Closes above the 50-day moving average crossing at 5.539 would signal that a low has been posted.First resistance is the 50-day moving average crossing at 5.539. Second resistance is the November 4th high crossing at 5.975. First support is Monday's low crossing at 4.736. Second support is the 50% retracement level of the 2020-2021-rally crossing at 4.623.
CURRENCIES? http://quotes.ino.com/ex?changes/?c=currencies ""
The December Dollar closed higher on Wednesday as it extends this month's rally. The high-range close sets the stage for a steady to higher opening when Friday'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 June-2020 high on the weekly continuation chart crossing at $97.81 is the next upside target. Closes below the 20-day moving average crossing at $94.98 would confirm that a short-term top has been posted. First resistance is today's high crossing at $96.94. Second resistance is the June-2020 high on the weekly continuation chart crossing at $97.81. First support is the 10-day moving average crossing at $95.89. Second support is the 20-day moving average crossing at $94.98.
The December Euro closed lower on Wednesday as it extends this year's decline. The low-range close sets the stage for a steady to lower opening when Friday'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 December extends this year's decline, the 87% retracement level of the 2020-2021-rally crossing at 110.60 is the next downside target. Closes above the 20-day moving average crossing at 116.61 would confirm that a low has been posted. First resistance is the 50-day moving average crossing at 114.60. Second resistance is the 50-day moving average crossing at 115.73. First support is today's low crossing at 111.90. Second support is the 87% retracement level of the 2020-2021-rally crossing at 110.60.
The December British Pound closed lower on Wednesday as it this year's decline. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are still possible. If December extends the decline off June's high, the 38% retracement level of the 2020-2021 rally crossing at 1.3223 is the next downside target. Closes above the 20-day moving average crossing at 1.3506 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1.3506. Second resistance is the 50-day moving average crossing at 1.3604. First support is today's low crossing at 1.3316. Second support is the 38% retracement level of the 2020-2021 rally crossing at 1.3223.
The December Swiss Franc closed slightly lower on Wednesday as it extends this month's decline. The high-range close sets the stage for a steady to higher opening when Friday'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 December extends this month's decline, March's low crossing at 1.0654 is the next downside target. Closes above the 50-day moving average crossing at 1.0844 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at 1.0844. Second resistance is the 20-day moving average crossing at 1.0874. First support is today's low crossing at 1.0673. Second support is March's low crossing at 1.0654.
The December Canadian Dollar closed higher on Wednesday as it consolidates some of the decline off October's high. The high-range close sets the stage for a steady to higher opening when Friday'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 December extends the aforementioned decline, the September 29th low crossing at 78.27 is the next downside target. Closes above the 20-day moving average crossing at 80.57 would signal that a short-term top has been posted. First resistance is the 20-day moving average crossing at 79.90. Second resistance is the November 10th high crossing at 80.73. First support is Tuesday's low crossing at 78.46. Second support is the September 29th low crossing at 78.27.
The December Japanese Yen closed lower on Wednesday as it posted a new contract low. The low-range close sets the stage for a steady to lower opening when Wednesday’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 December extends this month's decline, the December-2016 low on the monthly continuation chart crossing at 0.084275 is the next downside target. Closes above the 20-day moving average crossing at 0.089701 would signal that a low has been posted. First resistance is Monday's high crossing at 0.088735. Second resistance is the 20-day moving average crossing at 0.089702. First support is today's low crossing at 0.086565. 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 ""
February gold closed higher on Wednesday as it consolidates some the decline off November's high.The mid-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off November's high, November's low crossing at $1761.00 is the next downside target. Closes above the 10-day moving average crossing at $1844.00 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at $1825.70. Second resistance is the 10-day moving average crossing at $1844.00. First support is November's low crossing at 1761.00. Second support is September's low crossing at $1723.70.
December silver closed slightly higher on Wednesday as it consolidates some of the rally off November's high. The mid-range close sets the stage for a steady to higher opening when Friday'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, November's low crossing at 23.045 is the next downside target. Closes above the 10-day moving acreage crossing at 24.682 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 24.370. Second resistance is the 10-day moving average crossing at 24.682. First support is November's low crossing at 23.045. Second support is the October 12th low crossing at 22.325.
December copper closed higher on Wednesday as it extends the rally off last-Wednesday's low.The high-range close sets the stage for a steady to higher opening when Friday'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 aforementioned rally, July's high crossing at 458.60 is the next upside target. If December renews the decline off October's high, September's low crossing at 401.60 is the next downside target. First resistance today's high crossing at 449.10. Second resistance is July's high crossing at 458.60. First support is last-Wednesday's low crossing at 419.15. Second support is October's low crossing at 401.60.
GRAINS? http://quotes.ino.com/ex?changes/?c=grains "
March Corn closed down $0.03 1/4-cents at $5.85.
March corn closed lower on Wednesday as it consolidates some of the rally off October's low. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off October's low, August's high crossing at $5.99 3/4 is the next upside target. Closes below the 20-day moving average crossing at $5.77 would signal that a short-term top has been posted. First resistance is August's high crossing at $5.99 3/4. Second resistance is July's high crossing at $6.16 1/2. First support is the 20-day moving average crossing at $5.77. Second support is the 50-day moving average crossing at $5.55.
March wheat closed down $0.15 1/4-cents at $8.52 1/4.
March wheat closed sharply lower on Wednesday 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 Friday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off September's low, psychological resistance crossing at $9.00 is the next upside target. Closes below the 20-day moving average crossing at $8.15 1/2 would signal that a short-term top has been posted.First resistance is today's high crossing at $8.74 3/4. Second resistance is psychological resistance crossing at $9.00. First support is the 10-day moving average crossing at $8.38 1/4. Second support is the 20-day moving average crossing at $8.15 1/2.
March Kansas City Wheat closed down $0.07 1/4-cents at $8.76 3/4.
March Kansas City wheat closed lower on Wednesday as it consolidated some of its recent gains. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off September's low, psychological resistance crossing at $9.00 is the next upside target. Closes below the 20-day moving average crossing at $8.21 1/4 would confirm that a short-term top has been posted. First resistance is today's high crossing at $8.92 1/4. Second resistance is psychological resistance crossing at $9.00. First support is the 10-day moving average crossing at $8.46. Second support is the 20-day moving average crossing at $8.21 1/4.
March Minneapolis wheat closed down a $0.00 1/2-cent at $10.45.
March Minneapolis wheat posted an inside day with a lower close on Friday. The mid-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends this year's rally, monthly resistance on the continuation chart crossing at $11.20 is the next upside target. Closes below the November low crossing at $9.91 3/4 would signal that a short-term top has been posted. First resistance is November's high crossing at $10.86 1/2. Second resistance is monthly resistance on the continuation chart crossing at $11.22. First support is November's low crossing at $9.91 3/4. Second support is the 50-day moving average crossing at $9.70 1/4.
SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains "
January soybeans closed down $0.07 1/2-cents at $12.65 1/2.
January soybeans closed lower on Wednesday as it extended the trading range of the past five-days. Today's low-range close sets the stage for a steady to lower opening when Friday'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 January extends the rally off November's low, September's high crossing at $13.17 is the next upside target. Closes below the 20-day moving average crossing at $12.44 would signal that a short-term top has been posted. First resistance is September's high crossing at $13.117. Second resistance is August's high crossing at $13.81 1/2. First support is the 20-day moving average crossing at $12.44. Second support is November's low crossing at $11.81 1/4.
December soybean meal closed down $4.00 at $358.20.
December soybean meal closed lower on Wednesday as it consolidates some of the rally off October's low. The low-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. Closes below the 20-day moving average crossing at $350.40 would signal that a short-term top has been posted. If December extends the rally off October's low, the 62% retracement level of the May-October decline crossing at $383.30 is the next upside target. First resistance is the 62% retracement level of the May-October decline crossing at $383.30. Second resistance is July's high crossing at $392.70. First support is the 20-day moving average crossing at $350.40. Second support is November's low crossing at $328.60.
December soybean oil closed up 69 pts. at 60.83.
December soybean oil closed higher on Wednesday. The mid-range close sets the stage for a steady to higher opening when Wednesday'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 November's low, October's high crossing at 65.00 is the next upside target. If December renews the decline off October's high, September's low crossing at 54.18 is the next downside target. First resistance is November's high crossing at 62.44. Second resistance is October's high crossing at 65.00. First support is November's low crossing at 58.50. Second support is September's low crossing at 54.18.
LIVESTOCKhttp://quotes.ino.com/exchanges/?c=livestock
February hogs closed up $1.08 at $84.35.
February hogs closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Friday's 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 February extends the rally off October's low, October's high crossing at $87.48 is the next upside target. Closes below the 20-day moving average crossing at $80.56 would signal that a short-term top has been posted. First resistance is today's high crossing at $84.48. Second resistance is October's high crossing at $87.48. First support is the 20-day moving average crossing at $80.56. Second support is November's low crossing at $77.10.
February cattle closed up $1.45 at $140.88.
February cattle closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If February extends this fall's rally, the March 2016 high on the continuation chart crossing at $141.90 is the next upside target. Closes below the 20-day moving average crossing at $136.75 would signal that a short-term top has been posted. First resistance is today's high crossing at $141.08. Second resistance is the March 2016 high on the continuation chart crossing at $141.90. First support is the 10-day moving average crossing at $137.56. Second support is the 20-day moving average crossing at $136.75.
January Feeder cattle closed up $2.60 at $166.98.
January feeder cattle closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Friday's session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If January extends the rally off November's low, September's high crossing at $170.45 is the next upside target. First resistance is today's high crossing at $167.23. Second resistance is September's high crossing at $170.45. First support is the November 12th low crossing at $156.80. Second support is November's low crossing at $150.78.
FOOD & FIBERhttp://quotes.ino.com/ex changes/?c=food
December coffee closed higher on Wednesday and posted a new high for the year. 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. If December extends this month's rally, weekly resistance crossing at 258.65 is the next upside target. Closes below the 20-day moving average crossing at 217.11 would signal that a short-term top has been posted.
March cocoa closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 25.35 would signal that a top has been posted. If March extends the rally off November's low, the 50-day moving average crossing at 26.13 is the next upside target.
March sugar closed lower on Wednesday. The mid-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the rally off October's low, August's high crossing at 20.94 is the next upside target. Closes below the 20-day moving average crossing at 19.86 would signal that a short-term top has been posted.
December cotton closed higher on Wednesday. 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. 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 reaction low crossing at 115.75 would signal that a short-term top has been posted.