KEY EVENTS TO WATCH FOR:

Wednesday, December 1, 2021 

7:00 AM ET. MBA Weekly Mortgage Applications Survey

                       Composite Idx (previous 651.3)

                       Composite Idx, W/W% (previous +1.8%)

                       Purchase Idx-SA (previous 295.7)

                       Purchase Idx-SA, W/W% (previous +4.7%)

                       Refinance Idx (previous 2706.2)

                       Refinance Idx, W/W% (previous +0.4%)

8:15 AM ET. November ADP National Employment Report

                       Private Sector Jobs, Net Chg (previous +571000)

9:45 AM ET. November US Manufacturing PMI

                       PMI, Mfg (previous 58.4)

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

                       New Construction (previous -0.5%)

                       Residential Construction

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

                       Manufacturing PMI (previous 60.8)

                       Prices Idx (previous 85.7)

                       Employment Idx (previous 52.0)

                       Inventories (previous 57.0)

                       New Orders Idx (previous 59.8)

                       Production Idx (previous 59.3)

10:30 AM ET. EIA Weekly Petroleum Status Report

                       Crude Oil Stocks (Bbl) (previous 434.02M)

                       Crude Oil Stocks, Net Chg (Bbl) (previous +1.017M)

                       Gasoline Stocks (Bbl) (previous 211.393M)

                       Gasoline Stocks, Net Chg (Bbl) (previous -0.603M)

                       Distillate Stocks (Bbl) (previous 121.717M)

                       Distillate Stocks, Net Chg (Bbl) (previous -1.968M)

                       Refinery Usage (previous 88.6%)

                       Total Prod Supplied (Bbl/day) (previous 21.752M)

                       Total Prod Supplied, Net Chg (Bbl/day) (previous +0.123M)

11:00 AM ET. November Global Manufacturing PMI

                       PMI, Mfg (previous 54.3)

2:00 PM ET. U.S. Federal Reserve Beige Book

4:00 PM ET. November Domestic Auto Industry Sales

Thursday, December 2, 2021 

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

                       Job Cuts, M/M% (previous +27.53%)

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

                       Jobless Claims (previous 199K)

                       Jobless Claims, Net Chg (previous -71K)

                       Continuing Claims (previous 2049000)

                       Continuing Claims, Net Chg (previous -60K)

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

                       Corn (Metric Tons)

                       Soybeans (Metric Tons)

                       Wheat (Metric Tons)

9:45 AM ET. Consumer Comfort Index

10:00 AM ET. SEC Investor Advisory Committee Quarterly Meeting

10:00 AM ET. October Metropolitan Area Employment & Unemployment

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

                       Working Gas In Storage (Cbf) (previous 3623B)

                       Working Gas In Storage, Net Chg (Cbf) (previous -21B)

12:00 PM ET. November Monthly U.S. Retail Chain Store Sales Index

4:30 PM ET. Foreign Central Bank Holdings

4:30 PM ET. Federal Discount Window Borrowings

Friday, December 3, 2021 

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

                       Non-Farm Payrolls (previous +531K)

                       Unemployment Rate (previous 4.6%)

                       Avg Hourly Earnings (USD)

                       Avg Hourly Earnings-Net Chg (USD)

                       Avg Hourly Earnings, M/M% (previous +0.4%)

                       Avg Hourly Earnings, Y/Y% (previous +4.9%)

                       Overall Workweek (previous 34.7)

                       Overall Workweek Net Chg (previous -0.1)

                       Government Payrolls (previous -73K)

                       Private Payroll (previous +604K)

                       Participation Rate (previous 61.6%)

                       Non-Farm Payrolls Bench Net Chg

9:45 AM ET. November US Services PMI

                       PMI, Services (previous 58.7)

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

                       Non-Mfg Composite Idx (previous 66.7)

                       Non-Mfg Business Idx (previous 69.8)

                       Prices Idx (previous 82.9)

                       Employment Idx (previous 51.6)

                       New Orders Idx (previous 69.7)

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

                       Total Orders, M/M% (previous +0.2%)

                       Orders, Ex-Defense, M/M% (previous -0.5%)

                       Orders, Ex-Transport, M/M% (previous +0.7%)

                       Durable Goods, M/M%

11:00 AM ET. November Global Services PMI

                       PMI, Services (previous 55.6)

N/A               Latest deadline for new funding deal to avert U.S. Govt shutdown 

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

The Dow closed sharply lower on Tuesday as it extends the decline off November's high. The low-range close sets the stage for a steady to lower opening when Monday's session begins trading. The low-range close sets the stage for a steady to lower opening when Monday's session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If the Dow extends the aforementioned decline, the October 13^th low crossing at 34,115.10 is the next downside target. Closes above last-Friday's gap crossing at 35,591.03 would signal that a short-term low has been posted. First resistance is last-Friday's gap crossing at 35,591.03. Second resistance is the 20-day moving average crossing at 35,851.04. First support is the October 13^th low crossing at 34,115.10. Second support is October's low crossing at 33,785.54.

The December NASDAQ 100 closed lower on Tuesday as it extends the trading range of the past four-days. The low-range close sets the stage for a steady to lower opening when Wednesday's 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 November's low, the 50-day moving average crossing at 15,576.78 is the next downside target. If December renews the rally off October's low, upside targets will be hard to project. First resistance is November's high crossing at 16,767.50. Second resistance is unknown. First support is the November 11^th low crossing at 15,896.50. Second support is the 50-day moving average crossing at 15,576.78.

The December S&P 500 was sharply lower on Tuesday as it extended the decline off November's high.The low-range close sets the stage for a steady to lower opening when Wednesday's session begins trading. Stochastics and the RSI are neutral to bearish signaling sideways to lower prices are possible near-term. If December extends the aforementioned decline, the 50-day moving average crossing at 4528.88 is the next downside target. If December renews this year's rally, upside targets will be hard to project. First resistance is November's high crossing at 4740.50. Second resistance is unknown. First support is today's low crossing at 4562.00. Second support is the 50-day moving average crossing at 4528.88.    

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

March T-bonds closed up 1-18/32's at 162-00 

March T-bonds closed higher on Tuesday as it extended the rally off last-Wednesday's low. The high-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 March extends the aforementioned rally, September's high crossing at 163-27 is the next upside target. Closes below the 50-day moving average crossing at 158-28 would temper today's gains. First resistance is November's high crossing at 162-13. Second resistance is the September high crossing at 163-27. First support is last-Wednesday's low crossing at 157-12. Second support is October's low crossing at 155-26.  

March T-notes closed up 180-pts at 130.270.

March T-notes closed higher on Tuesday as extends the rally off November's low. 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 sideways to higher prices are possible near-term. If March extends today's rally, the 50% retracement level of the August-November decline crossing at 131.171 is the next upside target. Closes below the 10-day moving average crossing at 129.244 would signal that a short-term top has been posted. First resistance is October's high crossing at 131.140. Second resistance is the 50% retracement level of the August-November decline crossing at 131.171. First support is last-Wednesday's low crossing at 128.225. Second support is the December-2019 low on the monthly continuation chart crossing at 127.295. 

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

January crude oil closed sharply lower on Tuesday as it extends the decline off November's high.The low-range close sets the stage for a steady to lower opening when Wednesday'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 January extends the decline off October's high, the 87% retracement level of the August-October rally crossing at $63.75 is the next downside target. Closes above the 20-day moving average crossing at $77.64 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $74.99. Second resistance is the 20-day moving average crossing at $77.64. First support is the 87% retracement level of the August-October rally crossing at $63.75. Second support is August's low crossing at $60.77. 

January heating oil closed sharply lower on Tuesday as it extends the decline off October's high. The low-range close sets the stage for a steady to lower opening when Wednesday's night trading session begins. Stochastics and the RSI 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 87% retracement level of the August-October rally crossing at $198.23 is the next downside target. Closes above the 20-day moving average crossing at $235.97 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $228.40. Second resistance is the 20-day moving average crossing at $225.97. First support is the 75% retracement level of the August-October rally crossing at $206.56. Second support is the 87% retracement level of the August-October rally crossing at $198.23

January unleaded gas closed sharply lower on Tuesday as it extends the decline off October's high. 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 turning neutral to bearish signaling that sideways to lower prices are possible near-term. If January extends the decline off October's high, the 87% retracement level of the August-October rally crossing at $186.65 is the next downside target. Closes above the 20-day moving average crossing at $222.66 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at $216.46. Second resistance is the 20-day moving average crossing at $222.66. First support is the 75% retracement level of the August-October rally crossing at $194.34. Second support is the 87% retracement level of the August-October rally crossing at $186.65.    

January Henry natural gas closed lower on Tuesday as it renewed the decline off October's high. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI have turning neutral to bearish signaling that sideways to lower prices are possible near-term. If January extends the decline off October's high, the 62% retracement level of the 2020-2021-rally crossing at 4.137 is the next downside target. Closes above the 50-day moving average crossing at 5.516 would signal that a low has been posted. First resistance is the 50-day moving average crossing at 5.516. Second resistance is the November 4^th high crossing at 5.975. First support is the 50% retracement level of the 2020-2021-rally crossing at 4.623. Second support is the 62% retracement level of the 2020-2021-rally crossing at 4.137.   

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

The December Dollar closed lower on Tuesday as it consolidates some of this month's rally. The mid-range close sets the stage for a steady to lower opening when Wednesday'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 20-day moving average crossing at $95.48 would confirm that a short-term top has been posted. If December resumes the rally off September's low, the June-2020 high on the weekly continuation chart crossing at $97.81 is the next upside target. First resistance is last-Tuesday'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 20-day moving average crossing at $95.48. Second support is the 50-day moving average crossing at $94.52. 

The December Euro closed higher on Tuesday as it consolidates some of this year's decline. 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 114.11 would confirm that a low has been posted. If December resumes this year's decline, the 87% retracement level of the 2020-2021-rally crossing at 110.60 is the next downside target. First resistance is the 20-day moving average crossing at 114.11. Second resistance is the 50-day moving average crossing at 115.46. First support is last-Wednesday'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 slightly higher on Tuesday. The mid-range close sets the stage for a steady 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 still possible. If December extends the decline off June's high, the 50% retracement level of the 2020-2021 rally crossing at 1.2906 is the next downside target. Closes above the 20-day moving average crossing at 1.3445 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1.3445. Second resistance is the 50-day moving average crossing at 1.3579. First support is the 38% retracement level of the 2020-2021 rally crossing at 1.3223. Second support is the 50% retracement level of the 2020-2021 rally crossing at 1.2906. 

The December Swiss Franc closed sharply higher on today and above the 20-day moving average crossing at 1.0854 would signal that a short-term low has been posted. The high-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 last-Wednesday's low, November's high crossing at 1.1017 is the next upside target. Closes below the 10-day moving average crossing at 1.0780 would signal that a short-term top has been posted. First resistance is today's high crossing at 1.0924. Second resistance is November's high crossing at 1.1017. First support is last-Wednesday's low crossing at 1.0673. Second support is March's low crossing at 1.0654. 

The December Canadian Dollar closed lower on Tuesday as it extends the decline off October's high. The mid-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 the aforementioned decline, the September 29^th low crossing at 78.27 is the next downside target. Closes above the 20-day moving average crossing at 79.51 would signal that a short-term top has been posted. First resistance is the 20-day moving average crossing at 79.51. Second resistance is the November 16^th high crossing at 80.05. First support is today's low crossing at 77.90. Second support is September's low crossing at 77.53.

The December Japanese Yen closed higher on Tuesday as it extended the rally off last-Wednesday's low. The high-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. Closes above the 50-day moving average crossing at 0.088450 would confirm that a low has been posted. If December renews this year's decline, the December-2016 low on the monthly continuation chart crossing at 0.084275 is the next downside target. First resistance is the 50-day moving average crossing at 0.088450. Second resistance is the 50% retracement level of the August-November decline crossing at 0.089293. First support is the 10-day moving average crossing at 0.087549. Second support is last-Wednesday's low crossing at 0.086565.

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

February gold closed lower on Tuesday as it extended the decline off November's high.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 the decline off November's high, November's low crossing at $1761.00 is the next downside target. Closes above the 20-day moving average crossing at $1823.50 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at $1823.50. Second resistance is November's high crossing at $1881.90. First support is November's low crossing at 1761.00. Second support is September's low crossing at $1723.70.

March silver closed lower on Tuesday as it extended the decline off November's high. 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 March extends this week's decline, September's low crossing at 21.460 is the next downside target. Closes above the 20-day moving acreage crossing at 24.247 would confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 23.635. Second resistance is the 20-day moving average crossing at 24.247. First support is today's low crossing at 22.705. Second support is the October 12^th low crossing at 22.380.    

March copper closed lower on Tuesday.The mid-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March renews the decline off October's high, September's low crossing at 401.30 is the next downside target. If March resumes the rally off November's low, October's high crossing at 477.70 is the next upside target. First resistance is last-Friday's high crossing at 451.15. Second resistance is October's high crossing at 477.70. First support is November's low crossing at 420.00. Second support is September's low crossing at 401.30.  

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

March Corn closed down $0.14 3/4-cents at $5.67 1/2. 

March corn closed sharply lower on Tuesday and below the 20-day moving average crossing at $5.77 1/2 would signal that a short-term top has been posted as it extended the decline off last-Wednesday's high. 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off last-Wednesday's high, the 50-day moving average crossing at $5.57 3/4 is the next downside target. Closes above the 10-day moving average crossing at $5.81 1/2 would signal that a short-term low 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 50-day moving average crossing at $5.57 3/4. Second support is October's low crossing at $5.16 1/4.     

March wheat closed down $0.35-cents at $7.87 1/4.  

March wheat closed sharply lower on Tuesday as it decline off November's high. 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the aforementioned decline, the 50-day moving average crossing at $7.78 is the next downside target. Closes above Monday's high crossing at $8.55 1/4 would signal that a short-term low has been posted.First resistance is last-Wednesday's high crossing at $8.74 3/4. Second resistance is psychological resistance crossing at $9.00. First support is the 50-day moving average crossing at $7.78. Second support is October's low crossing at $7.25 3/4.

March Kansas City Wheat closed down $0.35-cents at $8.22 1/4.

March Kansas City wheat closed sharply lower on Tuesday. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. Today's close below the 20-day moving average crossing at $8.29 confirms that a short-term top has been posted. If March extends today's decline, the 50-day moving average crossing at $7.82 1/2 is the next downside target. If March renews the rally off September's low, psychological resistance crossing at $9.00 is the next upside target. First resistance is last-Wednesday's high crossing at $8.92 1/4. Second resistance is psychological resistance crossing at $9.00. First support is today's low crossing at $8.15. Second support is the 50-day moving average crossing at $7.82 1/2.

March Minneapolis wheat closed down $0.35 1/4-cents at $10.10. 

March Minneapolis wheat closed lower on Tuesday as it extends November's trading range. The low-range close sets the stage for a steady to lower opening when Wednesday'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 November low crossing at $9.91 3/4 would confirm that a short-term top has been posted. If March extends this year's rally, monthly resistance on the continuation chart crossing at $11.20 is the next upside target. 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 $9.79.  

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

January soybeans closed down $0.25 1/2-cents at $12.26 1/2.

January soybeans closed lower on Tuesday as it extended the decline off November's high. Today's low-range close sets the stage for a steady to lower opening when Wednesday'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 January extends today's decline, November's low crossing at $11.81 1/4 is the next downside target. Closes above the 10-day moving average crossing at $12.58 1/2 would signal that a short-term low has been posted. First resistance is November's high crossing at $12.89 1/4. Second resistance is September's high crossing at $13.17. First support is today's low crossing at $12.14 1/4. Second support is November's low crossing at $11.81 1/4.

January soybean meal closed down $0.90 at $341.80. 

January soybean meal closed lower on Tuesday as it extended the decline off November's high. The mid-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If January extends the aforementioned decline, the 50-day moving average crossing at $336.20 is the next downside target. Closes above the 10-day moving average crossing at $356.40 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $356.40. Second resistance is November's high crossing at $375.90. First support is the 50-day moving average crossing at $336.20. Second support is the November 8^th low crossing at $326.80.      

January soybean oil closed down 288 pts. at 55.40. 

January soybean oil broke out to the downside of November's trading range and closed sharply lower on Tuesday as it extended the decline off October's high. 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If January extends the decline off October's high, September's low crossing at 54.25 is the next downside target. Closes above the 50-day moving average crossing at 59.63 would signal that a short-term low has been posted. First resistance is November's high crossing at 62.10. Second resistance is October's high crossing at 64.31. First support is today's low crossing at 54.68. Second support is September's low crossing at 54.25.  

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

February hogs closed down $0.88 at $80.05. 

February hogs closed lower on Tuesday and below the 20-day moving average crossing at $80.92 signaling that a short-term top has been posted. The mid-range close sets the stage for a steady to lower opening when Wednesday's session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If February extends the decline off November's high crossing at $84.68, the November 10^th low crossing at $77.67 is the next downside target. Closes above the 10-day moving average crossing at $82.49 would signal that a short-term low has been posted. First resistance is last-Friday's high crossing at $84.68. Second resistance is October's high crossing at $87.48. First support is the November 10^th low crossing at $77.67. Second support is November's low crossing at $77.10. 

February cattle closed down $1.40 at $137.90. 

February cattle closed lower on Tuesday. The low-range close sets the stage for a steady to lower opening on Wednesday. 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 $137.47 would signal that a short-term top has been posted. If February renews this fall's rally, the March 2016 high on the continuation chart crossing at $141.90 is the next upside target. First resistance is last-Friday's high crossing at $141.85. Second resistance is the March 2016 high on the continuation chart crossing at $141.90. First support is the 20-day moving average crossing at $137.47. Second support is the 50-day moving average crossing at $135.25. 

January Feeder cattle closed down $1.05 at $164.67. 

January feeder cattle closed lower on Tuesday. The low-range close sets the stage for a steady to lower opening when Wednesday's session begins trading. Stochastics and the RSI are overbought but are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $160.93 would signal that a short-term top has been posted. If January extends the rally off November's low, September's high crossing at $170.45 is the next upside target. First resistance is Monday's high crossing at $168.30. Second resistance is September's high crossing at $170.45. First support is the 10-day moving average crossing at $163.10. Second support is the 20-day moving average crossing at $160.93. 

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

March coffee closed lower on Tuesday. The mid-range close sets the stage for a steady to lower opening on Wednesday. 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 223.38 would signal that a short-term top has been posted. If March extends this year's rally, weekly resistance crossing at 258.65 is the next upside target.   

March cocoa closed lower on Tuesday as it extends the decline off October's high.  The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off October's high July's low crossing at 23.13 is the next upside target. Closes above last-Friday's gap crossing at 24.95 would signal that a low has been posted.  

March sugar closed lower on Tuesday as it extends the decline off November's high. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the aforementioned decline, August's low crossing at 18.31 is the next downside target. Closes above the 20-day moving average crossing at 19.77 would signal that a short-term low has been posted. 

March cotton gapped down and closed sharply lower on Tuesday. Today's close below the 50-day moving average crossing at 107.98 confirms that a short-term top has been posted. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends today's decline, October's low crossing at 101.31 is the next downside target. Closes above today's gap crossing at 111.11 would signal that a low has been posted.