KEY EVENTS TO WATCH FOR:

Monday, February 14, 2022  

11:30 AM ET. Federal Reserve Board of Governors closed meeting

Tuesday, February 15, 2022   

7:45 AM ET. Weekly Chain Store Sales Index

8:30 AM ET. February Empire State Manufacturing Survey

                       Mfg Idx (previous -0.7)

                       Employment Idx (previous 16.1)

                       New Orders Idx (previous -5.0)

                        Prices Received (previous 37.1)

8:30 AM ET. January PPI

                       PPI, M/M% (previous +0.2%)

                       Ex-Food & Energy PPI, M/M% (previous +0.5%)

                       Personal Consumption (previous +0.1%)

8:55 AM ET. Johnson Redbook Retail Sales Index

                       Ret Sales Mo-to-Date, M/M%

                       Ret Sales Mo-to-Date, Y/Y% (previous +13.3%)

                       Latest Wk, Y/Y% (previous +13.3%)

4:00 PM ET. December Treasury International Capital Data

4:30 PM ET. API Weekly Statistical Bulletin

                       Crude Stocks, Net Chg (Bbls) (previous -2.0M)

                       Gasoline Stocks, Net Chg (Bbls) (previous -1.1M)

                       Distillate Stocks, Net Chg (Bbls) (previous -2.2M)

Wednesday, February 16, 2022  

7:00 AM ET. MBA Weekly Mortgage Applications Survey

                       Composite Idx (previous 567.7)

                       Composite Idx, W/W% (previous -8.1%)

                       Purchase Idx-SA (previous 282.3)

                       Purchase Idx-SA, W/W% (previous -9.6%)

                       Refinance Idx (previous 2183.5)

                       Refinance Idx, W/W% (previous -7.3%)

8:30 AM ET. January Advance Monthly Sales for Retail & Food Services

                       Overall Sales-SA, M/M% (previous -1.9%)

                       Sales, Ex-Auto, M/M% (previous -2.3%)

                       Sales, Ex-Auto & Gas, M/M% (previous -2.5%)

8:30 AM ET. January Import & Export Price Indexes

                       Import Prices (previous -0.2%)

                       Non-Petroleum Prices (previous +0.3%)

                       Petroleum Prices (previous -6%)

9:15 AM ET. January Industrial Production & Capacity Utilization

                       Industrial Production, M/M% (previous -0.1%)

                       Capacity Utilization % (previous 76.5%)

                       Capacity Utilization, Net Chg (Pts) (previous -0.1)

10:00 AM ET. February NAHB Housing Market Index

                       Housing Mkt Idx (previous 83)

10:00 AM ET. December Manufacturing & Trade: Inventories & Sales

                       Total Inventories (previous +1.3%)

10:30 AM ET. EIA Weekly Petroleum Status Report

                       Crude Oil Stocks (Bbl) (previous 410.387M)

                       Crude Oil Stocks, Net Chg (Bbl) (previous -4.756M)

                        Gasoline Stocks (Bbl) (previous 248.393M)

                        Gasoline Stocks, Net Chg (Bbl) (previous -1.644M)

                        Distillate Stocks (Bbl) (previous 121.814M)

                        Distillate Stocks, Net Chg (Bbl) (previous -0.93M)

                        Refinery Usage (previous 88.2%)

                        Total Prod Supplied (Bbl/day) (previous 21.881M)

                        Total Prod Supplied, Net Chg (Bbl/day) (previous +0.471M)

2:00 PM ET. Federal Open Market Committee meeting minutes published

Thursday, February 17, 2022   

8:30 AM ET. February Philadelphia Fed Business Outlook Survey

                       Business Activity (previous 23.2)

                       Prices Paid (previous 72.5)

                       Employment (previous 26.1)

                       New Orders (previous 17.9)

                       Prices Received (previous 46.4)

                       Delivery Times (previous 25.2)

                       Inventories (previous 3.1)

                       Shipments (previous 20.8)

8:30 AM ET. January New Residential Construction - Housing Starts and Building Permits

                       Total Starts (previous 1.702M)

                       Housing Starts, M/M% (previous +1.4%)

                       Building Permits (previous 1.873M)

                       Building Permits, M/M% (previous +9.1%)

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

                       Jobless Claims (previous 223K)

                       Jobless Claims, Net Chg (previous -16K)

                       Continuing Claims (previous 1621000)

                       Continuing Claims, Net Chg (previous +0K)

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

                       Corn (Metric Tons) (previous 589.1K)

                       Soybeans (Metric Tons) (previous 2490.8K)

                       Wheat (Metric Tons) (previous 133.2K)

9:45 AM ET. Consumer Comfort Index

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

                       Working Gas In Storage (Cbf) (previous 2101B)

                       Working Gas In Storage, Net Chg (Cbf) (previous -222B)

4:30 PM ET. Federal Discount Window Borrowings

4:30 PM ET. Foreign Central Bank Holdings

Friday, February 18, 2022  

10:00 AM ET. January Existing Home Sales

                       Existing Sales (previous 6.18M)

                       Existing Sales, M/M% (previous -4.6%)

                       Unsold Homes Month's Supply (previous 1.8)

                        Median Price (USD) (previous 358000)

                        Median Home Price, Y/Y% (previous +15.8%)

10:00 AM ET. January Leading Indicators

                       Leading Index, M/M% (previous +0.8%)

                        Leading Index (previous 120.8)

                        Coincident Index, M/M% (previous +0.2%)

                        Lagging Index, M/M% (previous +0.1%)

10:00 AM ET. 4^th Quarter Advance Quarterly Services

10:00 AM ET. 4^th Quarter Quarterly Retail E-Commerce Sales

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

The STOCK INDEXES: The March NASDAQ 100 was lower overnight as it extends the decline off last-Wednesday's high and sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are neutral to bearish signaling sideways to lower prices are possible near-term. If March extends the aforementioned decline, January's low crossing at 13,706.00 is the next downside target. Closes above last-Wednesday's high crossing at 15,260.00 are needed to renew the rally off January's low with the 50-day moving average crossing at 15,473.02 being the next upside target. First resistance is last-Wednesday's high crossing at 15,260.00. Second resistance is the 50-day moving average crossing at 15,473.02. First support is the overnight low crossing at 14,031.00. Second support is January's low crossing at 13,706.00.

The March S&P 500 was lower overnight as it extends the decline off last Wednesday's high. The low-range overnight trade sets the stage for a lower opening when the day session begins trading later this morning. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near-term. If  March extends the aforementioned decline, January's low crossing at 4212.75 is the next downside target. Closes above the 10-day moving average crossing at 4492.05 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at 4596.22. Second resistance is the December 12^th high crossing at 4739.50. First support is the overnight low crossing at 4354.00. Second support is January's low crossing at 4212.75.  

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

INTEREST RATES: March T-bonds was higher overnight as it consolidates some of this month's  decline. 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 are turning neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 154-11 would signal that a short-term low has been posted. If March extends the decline off December's high, the 75% retracement level of the 2018-2020-rally on the weekly continuation chart crossing at 150-06 is the next downside target. First resistance is the 20-day moving average crossing at 154-11. Second resistance is the January 13^th high crossing at 156-28. First support is last-Friday's low crossing at 150-26. Second support is the 75% retracement level of the 2018-2020-rally on the weekly continuation chart crossing at 150-06.

March T-notes was higher overnight as it consolidates some of this month's decline. Overnight trading sets the stage for a steady to higher opening with 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 127.132 would signal that a short-term low has been posted. If March extends the decline off December's high, the 75% retracement level of the 2018-2020-rally on the weekly continuation chart crossing at 123.084 is the next downside target. First resistance the 20-day moving average crossing at 127.132. Second resistance is the January 13^th high crossing at 128.270. First support is last-Thursday's low crossing at 125.175. Second support is the 75% retracement level of the 2018-2020-rally on the weekly continuation chart crossing at 123.084.   

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

ENERGIES:March crude oil was steady to slightly lower overnight. Overnight trading sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are diverging but are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If March renews the rally off December's low, the 75% retracement level of the 2008-2020-decline on the monthly continuation chart crossing at $100.36 is the next upside target. Closes below the 20-day moving average crossing at $88.22 would signal that a short-term top has been posted. First resistance is the overnight high crossing at $94.94. Second resistance is the 75% retracement level of the 2008-2020-decline on the monthly continuation chart crossing at $100.36. First support is the 20-day moving average crossing at $88.22. Second support is the January 24^th low crossing at $81.90.

March heating oil was steady to slightly lower overnight as it consolidates some of last-Friday's rally. Overnight trading sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are diverging but turning neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off December's low, the June-2014 high on the monthly continuation chart crossing at $3.0711 is the next upside target. Closes below the 20-day moving average crossing at $2.7459 would signal that a short-term top has been posted. First resistance is the overnight high crossing at $2.9605. Second resistance is the June-2014 high on the monthly continuation chart crossing at $3.0711. First support is the 20-day moving average crossing at $2.7459. Second support is the January 24^th low crossing at $2.5616.  

March unleaded gas was steady to slightly lower overnight as it consolidates some of last-Friday's rally. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off December's low, monthly resistance crossing at $2.8181 is the next upside target. Closes below the 20-day moving average crossing at $2.5706 would signal that a short-term top has been posted. First resistance is the overnight high crossing at $2.7697. Second resistance is monthly resistance crossing at $2.8181. First support is the 20-day moving average crossing at $2.5706. Second support is the January 24^th low crossing at $2.3736.    

March Henry natural gas gapped up and was higher overnight as it consolidates some of the decline off February's high. Overnight trading sets the stage for a 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 March extends the decline off February's high, the January 20^th low crossing at 3.629 is the next downside target. Closes above the 10-day moving average crossing at 4.426 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 4.259. Second resistance is the 10-day moving average crossing at 4.426. First support is the 50-day moving average crossing at 3.935. Second support is the January 20^th low crossing at 3.629.

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

CURRENCIES:The March Dollar was higher overnight as it extends the rally off this month's low. Overnight trading sets the stage for a higher opening when the day session begins trading. Stochastics and the RSI have turned bullish signaling that sideways to higher prices are possible near-term. If March extends the aforementioned rally, January's high crossing at $97.44 is the next upside target. If March resumes the decline off January's high, the January 14^th low crossing at $94.61 is the next downside target. First resistance is January's high crossing at $97.44. Second resistance is weekly resistance on the weekly continuation chart crossing at 99.31. First support is this month's low crossing at $95.15. Second support is January's low crossing at $94.61.

The March Euro was lower overnight as it extends the decline off last-Thursday'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 bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at $113.41 would signal that a short-term top has been posted. If March renews the rally off January's low, the 38% retracement level of the 2020-2021-decline crossing at $116.26 is the next upside target. First resistance is last-Thursday's high crossing at $115.04. Second resistance is the 38% retracement level of the 2021-2022-decline crossing at $116.26. First support is the 50-day moving average crossing at $113.41. Second support is January's low crossing at $111.31.

The March British Pound was lower overnight as it extends the trading range of the past two-weeks. Overnight trading sets the stage for a steady to lower opening when the day session begins trading.Stochastics and the RSI are poised to turn neutral to bearish with additional weakness that would signal   sideways to lower prices are possible near-term. If March extends the decline off last-Thursday's high, the 50-day moving average crossing at 1.3456 is the next downside target.If March resumes the rally off January's low, January's high crossing at 1.3745 is the next upside target.First resistance is last-Thursday's high crossing at 1.3641. Second resistance is January's high crossing at 1.3745. First support is last-Monday's low crossing at 1.3487. Second support is the 50-day moving average crossing at 1.3456.

The March Swiss Franc was steady to slightly higher overnight. The mid-range overnight trade sets the stage for a steady to higher opening when the day 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 1.0882 would signal that a short-term low has been posted while opening the door for additional short covering gains. If March extends the decline off February's high, January's low crossing at 1.0715 is the next downside target. First resistance is February's high crossing at 1.0907. Second resistance is the January 21^st high crossing at 1.0994. First support is November's low crossing at 1.0712. Second support is weekly support on the weekly continuation chart crossing at 1.0673.  

The March Canadian Dollar was lower overnight as it extends the trading range of the past three-weeks. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March resumes the decline off January's high, the January 6^th low crossing at $78.03 is the next downside target. Closes above last-Thursday's high crossing at $79.13 would signal that a short-term low has been posted. First resistance is last-Thursday's high crossing at $79.13. Second resistance is the January 26^th high crossing at $79.66. First support is the January 6^th low crossing at $78.03. Second support is December's low crossing at $77.13.

The March Japanese Yen was steady to slightly higher overnight and sets the stage for a steady to slightly higher opening when the day session begins trading. Stochastics and the RSI have turned  neutral to bullish signaling that a sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 0.087337 would signal that a short-term low has been posted. If March extends the decline off January's high, the 75% retracement level of the 2015-2016-rally on the monthly continuation chart crossing at 0.084932 is the next downside target. First resistance is the 50-day moving average crossing at 0.087337. Second resistance is January's high crossing at 0.088170. First support is last-Thursday's low crossing at 0.085955. Second support is the 75% retracement level of the 2015-2016-rally on the monthly continuation chart crossing at 0.084932.  

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

PRECIOUS METALS: Aprilgold was lower overnight as it consolidates some of the rally off January's low. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. If April extends the rally off January's low, November's high crossing at $1882.50 is the next upside target. Closes below the 50-day moving average crossing at $1811.30 would signal that a short-term top has been posted. First resistance is last-Friday's high crossing at $1867.40. Second resistance is November's high crossing at $1882.50. First support is the 50-day moving average crossing at $1811.30. Second support is the January 28^th low crossing at $1780.60.

March silver was higher overnight as it extends the rally off February's low. The high-range trade 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 bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off February's low, January's high crossing at $24.755 is the next upside target. Closes below the 50-day moving average crossing at $22.897 would signal that a short-term top has been posted. First resistance is the overnight high crossing at $23.800. Second resistance is January's high crossing at $24.755. First support is the 50-day moving average crossing at $22.897. Second support is January's low crossing at $21.945.   

March copper was lower overnight as it extends the decline off last-Thursday's high. 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. Closes below the 50-day moving average crossing at 4.4144 would signal that a short-term top has been posted. If March renews the rally off January's low, last-October's high crossing at 4.7770 is the next upside target. First resistance is last-Thursday's high crossing at 4.7085. Second resistance is last-October's high crossing at 4.7770. First support is the 50-day moving average crossing at 4.4144. Second support is January's low crossing at 4.2820.

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

March corn was lower overnight in two-sided trading as it consolidates around key weekly resistance on the continuation chart crossing at $6.49 1/2. 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 signaling that sideways trading is possible near-term. If March extends the rally off September's low, weekly resistance on the continuation chart crossing at $6.81 3/4 is the next upside target. Closes below the 20-day moving average crossing at $6.27 would signal that a short-term top has been posted. First resistance is last-Thursday's high crossing at $6.62 3/4. Second resistance is weekly resistance on the continuation chart crossing at $6.81 3/4. First support is the 20-day moving average crossing at $6.27. Second support is the 50-day moving average crossing at $6.08 1/4. 

March wheat was higher overnight as it extends the rally off February's low. Overnight trading sets the stage for a steady to higher opening when the day 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, January's high crossing at $8.31 1/2 is the next upside target. Closes below last-Friday's low crossing at $7.64 3/4 would signal that a short-term top has been posted. First resistance is the overnight high crossing at $8.13 1/2. Second resistance is January's high crossing at $8.31 1/2. First support is last-Friday's low crossing at $7.64 3/4. Second support is February's low crossing at $7.40.

March Kansas City wheat was higher overnight but well off session highs as it extends the rally off February's low. Overnight trading sets the stage for a steady to slightly higher opening when the day session begins trading later this morning. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends this month's rally, January's high crossing at $8.49 1/4 is the next upside target. Closes below the 10-day moving average crossing at $7.97 would signal that a short-term top has been posted. First resistance is the overnight high crossing at $8.44 1/4. Second resistance is January's high crossing at $8.49 1/4. First support is last-Friday's low crossing at $7.91 1/2. Second support is February's low crossing at $7.53 1/4.

March Minneapolis wheat was steady to slightly higher overnight. Overnight trading sets the stage for a steady to higher opening when the day 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 $9.64 1/2 would open the door for additional short-term gains. Closes below the 20-day moving average crossing at $9.29 1/4 would signal that a short-term top has been posted. First resistance is the 50-day moving average crossing at $9.64 1/2. Second resistance is the December 27^th high crossing at $10.36 3/4. First support is the 38% retracement level of 2020-2021-rally crossing at $8.78 1/2. Second support is the September 10^th low crossing at $8.51.  

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

March soybeans was sharply lower overnight as it extends the decline off last-Thursday'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 are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 10-day moving average crossing at $15.63 would signal that a short-term top has been posted. If March extends the rally off November's low, the June-2021 high on the weekly continuation chart crossing at $16.67 1/2 is the next upside target. First resistance is last-Thursday's high crossing at $16.33. Second resistance is the June-2021 high on the weekly continuation chart crossing at $16.67 1/2. First support is the 10-day moving average crossing at $15.63. Second support is the 20-day moving average crossing at $14.94.

March soybean meal was lower overnight as it extends the decline off last-Thursday's high. Overnight trading sets the stage for a lower opening when the day 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 10-day moving average crossing at $447.80 would signal that a short-term top has been posted. If March extends the rally off January's low, the June-2014 high on the monthly continuation chart crossing at $509.40 is the next upside target. First resistance is last-Thursday's high crossing at $477.90. Second resistance is the June-2014 high on the monthly continuation chart crossing at $509.40. First support is the 10-day moving average crossing at $447.80. Second support is the 20-day moving average crossing at $424.10. 

March soybean oil was lower overnight. Overnight trading 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 March resumes the rally off December's low, the 75% retracement level of the 2021's decline on the weekly continuation chart crossing at 68.07 is the next upside target. Closes below last-Wednesday's low crossing at 62.70 would signal that a short-term top has been posted. First resistance is February's high crossing at 66.92. Second resistance is the 75% retracement level of the 2021's decline on the weekly continuation chart crossing at 68.07. First support is last-Wednesday's low crossing at 62.70. Second support is the January 21^st low crossing at 61.74.      

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

April hogs closed down $1.30 at $102.13. 

April hogs closed lower on Friday following yesterday's huge key reversal down thereby signaling that a short-term top might be in or is near. The low-range close sets the stage for a steady to lower opening when Monday's 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 $97.15 would signal that a short-term top has been posted. If April extends the rally off October's low, monthly resistance on the continuation chart crossing at $110.53 is the next upside target. First resistance is Thursday's high crossing at $107.70. Second resistance is monthly resistance on the continuation chart crossing at $110.53. First support is the 10-day moving average crossing at $100.63. Second support is the 20-day moving average crossing at $97.15. 

April cattle closed down $0.48 at $146.40 

April cattle closed lower on Friday as it consolidates some of the rally off January's low. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If April extends the aforementioned rally, the 87% retracement level of the 2014-2020-decline on the monthly continuation chart crossing at $159.54 is the next upside target. Closes below Tuesday's low crossing at $145.23 would signal that a short-term top has been posted. First resistance is Thursday's high crossing at $148.70. Second resistance is the 87% retracement level of the 2014-2020-decline on the monthly continuation chart crossing at $159.54. First support is Tuesday's low crossing at $145.23. Second support is the 20-day moving average crossing at $144.17. 

March Feeder cattle closed down $0.23 at $166.50. 

March feeder cattle closed lower on Friday as it consolidated some of the rally off January's low. The low-range close sets the stage for a steady to lower opening when Monday'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 March extends the rally off January's low, the January 4^th gap crossing at $169.23 is the next upside target. Closes below the 20-day moving average crossing at $164.33 would signal that a short-term top has been posted. First resistance is the January 4^th gap crossing at $169.23. Second resistance is December's high crossing at $170.83. First support is the 20-day moving average crossing at $164.33. Second support is January's low crossing at $125.22.  

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

March coffee closed lower on Friday as it consolidated some of this week's gains. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off January's low, monthly resistance on the continuation chart crossing at 280.94 signal is the next upside target. Closes below the 50-day moving average crossing at 237.37 would confirm that a short-term top has been posted.          

March cocoa closed lower on Friday as it consolidated some of the rally off December's low. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the aforementioned rally, last October's high crossing at 28.12 is the next upside target. Closes below the 20-day moving average crossing at 26.14 would temper the friendly outlook.  

March sugar closed slightly lower 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. Multiple closes above the 50-day moving average crossing at 18.72 would confirm that a short-term low has been posted. If March renews the decline off January's high, January's low crossing at 17.60 is the next downside target.       

March cotton closed 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 on Monday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 124.15 would signal that a short-term top has been posted. If March renews the rally off September's low, monthly resistance on the continuation chart crossing at 134.17 is the next upside target.