KEY EVENTS TO WATCH FOR:
Monday, September 26, 2022
8:30 AM ET. August CFNAI Chicago Fed National Activity Index
NAI (previous 0.27)
NAI, 3-mo Moving Avg (previous -0.09)
10:30 AM ET. September Texas Manufacturing Outlook Survey
Business Activity (previous -12.9)
Mfg Production Idx (previous 1.2)
Tuesday, September 27, 2022
8:30 AM ET. August Advance Report on Durable Goods
Durable Goods-SA, M/M% (previous +0%)
Dur Goods, Ex-Defense, M/M% (previous +1.2%)
Dur Goods, Ex-Transport, M/M% (previous +0.3%)
Orders: Cap Gds, Non-Def, Ex-Air, M/M% (previous +0.4%)
Shipmnts: Cap Gds, Non-Def, Ex-Air, M/M% (previous +0.7%)
8:55 AM ET. Johnson Redbook Retail Sales Index
Ret Sales Mo-to-Date, M/M%
Ret Sales Mo-to-Date, Y/Y% (previous +10.9%)
Latest Wk, Y/Y% (previous +10.5%)
9:00 AM ET. July U.S. Monthly House Price Index
9:00 AM ET. July S&P CoreLogic Case-Shiller Indices
10-City Idx, M/M% (previous +0.4%)
10-City Idx, Y/Y% (previous +17.4%)
20-City Idx, M/M% (previous +0.4%)
20-City Idx, Y/Y% (previous +18.6%)
National Idx, M/M% (previous +0.6%)
National Idx, Y/Y% (previous +18%)
10:00 AM ET. September Richmond Fed Business Activity Survey
Mfg Idx (previous -8)
Shipments Idx (previous -8)
10:00 AM ET. September Consumer Confidence Index
Cons Conf Idx (previous 103.2)
Expectation Idx
Present Situation Idx (previous 145.4)
10:00 AM ET. August New Residential Sales
New Home Sales (previous 511K)
New Home Sales, M/M% (previous -12.6%)
New Home Sales Months Supply (previous 10.9)
1:00 PM ET. August Money Stock Measures
4:30 PM ET. API Weekly Statistical Bulletin
Crude Stocks, Net Chg (Bbls)
Gasoline Stocks, Net Chg (Bbls)
Distillate Stocks, Net Chg (Bbls)
Wednesday, September 28, 2022
7:00 AM ET. MBA Weekly Mortgage Applications Survey
Composite Idx (previous 264.7)
Composite Idx, W/W% (previous +3.8%)
Purchase Idx-SA (previous 200.1)
Purchase Idx-SA, W/W% (previous +1.0%)
Refinance Idx (previous 588.1)
Refinance Idx, W/W% (previous +10.4%)
8:30 AM ET. 2nd Quarter U.S. International Investment Position
8:30 AM ET. August Advance Economic Indicators Report
10:00 AM ET. August Pending Home Sales Index
Pending Home Sales (previous 89.8)
Pending Home Sales Idx, M/M% (previous -1.0%)
Pending Home Sales Idx , Y/Y% (previous -19.9%)
10:00 AM ET. August Metropolitan Area Employment & Unemployment
10:30 AM ET. EIA Weekly Petroleum Status Report
Crude Oil Stocks (Bbl) (previous 430.774M)
Crude Oil Stocks, Net Chg (Bbl) (previous +1.141M)
Gasoline Stocks (Bbl) (previous 214.61M)
Gasoline Stocks, Net Chg (Bbl) (previous +1.57M)
Distillate Stocks (Bbl) (previous 117.25M)
Distillate Stocks, Net Chg (Bbl) (previous +1.23M)
Refinery Usage (previous 93.6%)
Total Prod Supplied (Bbl/day) (previous 18.938M)
Total Prod Supplied, Net Chg (Bbl/day) (previous -0.375M)
Thursday, September 29, 2022
8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims
Jobless Claims
Jobless Claims, Net Chg
Continuing Claims
Continuing Claims, Net Chg
8:30 AM ET. U.S. Weekly Export Sales
8:30 AM ET. 2nd Quarter 3rd estimate GDP
Annual Rate, Q/Q% (previous -0.6%)
Chain-Weighted Price Idx, Q/Q% (previous +8.9%)
Corporate Profits, Q/Q% (previous +10.4%)
PCE Price Idx, Q/Q% (previous +7.1%)
Purchase Price Idx, Q/Q% (previous +8.4%)
Real Final Sales, Q/Q% (previous +1.3%)
Core PCE Price Idx, Ex-Food/Energy, Q/Q% (previous +4.4%)
Personal Consumption, Q/Q% (previous +1.5%)
8:30 AM ET. 2nd Quarter Revised Corporate Profits
10:30 AM ET. EIA Weekly Natural Gas Storage Report
Working Gas In Storage (Cbf)
Working Gas In Storage, Net Chg (Cbf)
4:30 PM ET. Foreign Central Bank Holdings
4:30 PM ET. Federal Discount Window Borrowings
Friday, September 30, 2022
8:30 AM ET. August Personal Income & Outlays
Personal Income, M/M% (previous +0.2%)
Consumer Spending, M/M% (previous +0.1%)
PCE Price Idx, M/M% (previous -0.1%)
PCE Price Idx, Y/Y% (previous +6.3%)
PCE Core Price Idx, M/M% (previous +0.1%)
PCE Core Price Idx, Y/Y% (previous +4.6%)
9:45 AM ET. Sept. Chicago Business Barometer - ISM-Chicago Business Survey - Chicago PMI
PMI-Adj (previous 52.2)
10:00 AM ET. 2nd Quarter State Quarterly Personal Income
10:00 AM ET. 2nd Quarter GDP by State
10:00 AM ET. September University of Michigan Survey of Consumers - final
End-Mo Sentiment Idx (previous 58.2)
End-Mo Expectations Idx (previous 58.0)
12-Month Inflation Forecast (previous 4.8%)
5-Year Inflation Forecast (previous 2.9%)
End-Mo Current Idx (previous 58.6)
3:00 PM ET. August Agricultural Prices
Farm Prices, M/M% (previous -0.1%)
N/A U.S. fiscal year ends
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 gapped down and closed sharply lower on Friday as it extends the decline off August's high. The mid-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If the Dow extends the decline off August's high, monthly support crossing at 27,953.65 is the next downside target. Closes above the 20-day moving average crossing at 31,264.69 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 30,798.24. Second resistance is the 20-day moving average crossing at 31,264.69. First support is today's low crossing at 29,250.47. Second support is monthly support crossing at 27,953.65.
The December NASDAQ 100 close lower on Friday as it extended the decline off August's high. Today's low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling sideways to lower prices are possible. If December extends the decline off August's high, June's low crossing at 11,135.00 is the next downside target. Closes above the 20-day moving average crossing at 12,189.58 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 11,969.42. Second resistance is the 20-day moving average crossing at 12,189.59. First support is today's low crossing at 11,229.00. Second support is June's low crossing at 11,135.00.
The December S&P 500 closed lower on Friday as it extends the decline off August's high. The mid-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off August's high, June's low crossing at 3744.72 is the next downside target. Closes above the 20-day moving average crossing at 3949.49 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 3893.00. Second resistance is the 20-day moving average crossing at 3949.49. First support is today's low crossing at 3660.25. Second support is the 87% retracement level of the June-August rally crossing at 3744.72.
INTEREST RATES? http://quotes.ino.com/ex?changes/?c=interest ""
December T-bonds closed up 21-pts. at 128-28.
December T-bonds closed higher on Friday as it consolidates some of the decline off August's high. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off August's high, monthly support crossing at 118-21 is the next downside target. Closes above the 20-day moving average crossing at 132-20 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 130-22. Second resistance is the 20-day moving average crossing at 132-20. First support is today's low crossing at 126-29. Second support is monthly support on the continuation chart crossing at 118-21.
December T-notes closed down 40-pts. at 112.200.
December T-notes closed lower on Friday as it extends the decline off August's high. The high-range close sets the stage for a steady to modestly lower opening when Monday'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 62% retracement level of the 2000-2020 crossing at 111.233 is the next downside target. Closes above the 20-day moving average crossing at 115.119 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 115.119. Second resistance is the 50-day moving average crossing at 117.234. First support is today's low crossing at 111.250. Second support is the 62% retracement level of the 2000-2020 crossing at 111.233.
ENERGY MARKETS? http://quotes.ino.com/ex?changes/?c=energy ""
November crude oil closed sharply lower on Friday as it renewed the decline off June's high. The low-range close sets the stage for a steady to lower opening when Monday's night session begins. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If November extends the decline off August's high, the 50% retracement level of the 2021-2022 rally crossing at $74.38 is the next downside target. Closes above the 50-day moving average crossing at $89.13 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 86.28. Second resistance is the 50-day moving average crossing at $89.13. First support is the February 18th lowcrossing at $79.31. Second support is the 50% retracement level of the 2021-2022 rally crossing at $74.38.
November heating oil closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's night trading session begins. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If November renews the decline off August's high, the 50% retracement level of the 2020-2022 rally crossing at 2.7293 is the next downside target. Closes above the 20-day moving average crossing at 3.4481 would signal that a short-term low has been posted. If November renews the decline off August's high, the 50% retracement level of the 2020-2022 rally crossing at 2.7293 is the next downside target. First resistance is the 20-day moving average crossing at 3.4481. Second resistance is the September 6th high crossing at 3.6996. First support is Monday's low crossing at 3.0925. Second support is the 38% retracement level of the 2021-2022 rally crossing at 3.0693.
November unleaded gas closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If November renews the decline off June's high, the 50% retracement level of the 2021-2022 rally crossing at 2.1346 is the next downside target. Closes above the 50-day moving average crossing at $2.5532 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at 2.5532. Second resistance is the August 11th high crossing at $2.7173. First support is the September 8th low crossing at 2.2487. Second support is the 50% retracement level of the 2021-2022 rally crossing at 2.1346.
November Henry natural gas closed lower on Friday as it extended the decline off August's high. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If November extends the decline off August's high, the 75% retracement level of the June-August rally crossing at 6.598 is the next downside target. Closes above the 20-day moving average crossing at 8.971 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 8.971. Second resistance is the September 14th high crossing at 9.292. First support is the 75% retracement level of the July-August rally crossing at 6.598. Second support is the 87% retracement level of the July-August rally crossing at 6.048.
CURRENCIES? http://quotes.ino.com/ex?changes/?c=currencies ""
The December Dollar closed sharply higher on Friday as it extends this year's rally. The high-range close sets the stage for a steady to higher opening when Monday's nights session begins trading. Stochastics and the RSI are neutral to bullish signaling sideways to higher prices are possible near-term. If December extends the rally off August's low, monthly resistance crossing at $114.782 is the next upside target. Closes below the 20-day moving average crossing at $109.529 would confirm that a short-term top has been posted. First resistance is today's high crossing at $113.000. Second resistance is monthly resistance crossing at $114.782. First support is the 20-day moving average crossing at $109.529. Second support is the 50-day moving average crossing at $107.659.
The December Euro closed sharply lower on Friday as it extends this year's decline. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are 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 2000-2008 rally on the monthly continuation chart crossing at $0.93211 is the next downside target. Closes above the 50-day moving average crossing at $1.01693 is needed to confirm that a low has been posted. First resistance is the 50-day moving average crossing at $1.01693. Second resistance is September's high crossing at 1.02650. First support is today's low crossing at $0.97280. Second support is the 87% retracement level of the 2000-2008 rally on the monthly continuation chart crossing at $0.93211.
The December British Pound closed sharply lower on Friday as it extends this year's decline. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling sideways to lower prices are possible near-term. If December extends this year's decline, psychological support crossing at 1.0000 is the next downside target. Closes above the 20-day moving average crossing at 1.1509 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1.1509. Second resistance is the September 13th high crossing at 1.1759. First support is today's low crossing at 1.0852. Second support is psychological support crossing at 1.0000.
The December Swiss Franc closed lower on Friday as it extends the decline off August's high. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the aforementioned decline, September's low crossing at 1.02210 is the next downside target. Closes above the 50-day moving average crossing at 1.04875 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at 1.04875. Second resistance is September's high crossing at 1.06325. First support is September's low crossing at 1.02210. Second support is June's low crossing at 1.01300.
The December Canadian Dollar closed lower on Friday as it extends this year's decline. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off August's high, the 75% retracement level of the 2020-2021 rally crossing at 72.14 is the next downside target. Closes above the 20-day moving average crossing at 75.79 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 75.79. Second resistance is the 50-day moving average crossing at 76.85. First support is the 75% retracement level of the 2020-2021 rally crossing at 72.14. Second support is the 87% retracement level of the 2020-2021 rally crossing at 70.42.
The December Japanese Yen posted an inside day with a lower close on Friday as it extends the trading range of the past two-weeks. The low-range close sets the stage for a steady to lower opening when Monday’s night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above Thursday's high crossing at 0.071895 would signal that a short-term low has been posted. If December renews this year's decline, is long-term support crossing at 0.065720 is the next downside target. First resistance is Thursday's high crossing at 0.071895. Second resistance is the 50-day moving average crossing at 0.73290. First support is Thursday's low crossing at 0.069150. Second support is long-term support crossing at 0.065720.
PRECIOUS METALS? http://quotes.ino.com/ex?changes/?c=metals ""
December gold closed lower on Friday as it renewed this year's decline. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off August's high, monthly support crossing at $1610.30 is the next downside target. Closes above the 50-day moving average crossing at $1745.00 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at $1745.00. Second resistance August's high crossing at $1824.60. First support is today's low crossing at $1646.60. Second support is monthly support crossing at $1610.30.
December silver 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 when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 18.798 would signal that a short-term top has been posted. If December renews the rally off September's low, the August high crossing at 21.020 is the next upside target. First resistance is last-Monday's high crossing at 20.005. Second resistance is August's high crossing at 21.020. First support is the 20-day moving average crossing at 18.798. Second support is the September 1st low crossing at 17.320.
December copper closed lower on Friday as it extends the decline off August's high.The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If December renews the decline off August's high, July's low crossing at 3.1315 is the next downside target. Closes above the 50-day moving average crossing at 3.5210 would signal that a short-term low has been posted. First resistance is September's high crossing at 3.6925. Second resistance is August's high crossing at 3.7835. First support today's low crossing at 3.3270. Second support is July's low crossing at 3.1315.
GRAINS? http://quotes.ino.com/ex?changes/?c=grains "
December Corn closed down $0.11 1/2-cents at $6.76 3/4.
December corn closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below last-Friday's low crossing at $6.67 1/2 would signal that a short-term top has been posted. If December renews the rally off July's low, the 75% retracement level of the May-July decline crossing at $7.15 is the next upside target. First resistance is psychological resistance crossing at $7.00. Second resistance is the 75% retracement level of the May-July decline crossing at $7.15. First support is last-Friday's low crossing at $6.67 1/2. Second support is the 50-day moving average crossing at $6.38 1/2.
December wheat closed down $0.30 1/4-cents at $8.80 1/2.
December wheat closed lower on Friday as it consolidated some of the rally off August's low. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are overbought, but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off August's low, the 38% retracement level of the May-August decline crossing at $9.49 1/4. Closes below the 50-day moving average crossing at $8.22 would confirm that a short-term top has been posted. First resistance is Thursday's high crossing at $9.22 1/2. Second resistance is the 38% retracement level of the May-August decline crossing at $9.49 1/4. First support is the 50-day moving average crossing at $8.22. Second support is the September 1st low crossing at $7.91 1/4.
December Kansas City Wheat closed down $0.28 1/2-cents at $9.49 1/4.
December Kansas City wheat closed lower on Friday as it consolidated some of the rally off August's low. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off August's low, the July 11th high crossing at $10.10 is the next upside target. Closes below the 50-day moving average crossing at $8.87 3/4 would signal that a short-term top has been posted. First resistance is Thursday's high crossing at $9.89 3/4. Second resistance is the July 11th high crossing at $10.10. First support is the 20-day moving average crossing at $9.19 3/4. Second support is the 50-day moving average crossing at $8.87 3/4.
December Minneapolis wheat closed down $0.28 1/2-cents at $9.49 1/4.
December Minneapolis wheat closed lower on Friday as it consolidated some of the rally off August's low. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends this week's rally, the 25% retracement level of the May-August decline crossing at $9.94 3/4 is the next upside target. Closes below Monday's low crossing at $9.06 1/2 would confirm that a short-term top has been posted. First resistance is the 25% retracement level of the May-August decline crossing at $9.94 3/4. Second resistance is the 38% retracement level of the May-August decline crossing at $10.66 1/2. First support is September's low crossing at $8.80. Second support is August's low crossing at $8.61 3/4.
SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains "
November soybeans closed down $0.31 1/4-cents at $14.25 3/4.
November soybeans closed lower on Friday and below the 20-day moving average crossing at $14.37 3/4 signaling that a short-term top has been posted. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If November extends today's decline, the 50-day moving average crossing at $14.15 is the next downside target. If November renews the rally off the September 8th low, the 75% retracement level of the June-July decline crossing at $15.12 is the next upside target. First resistance is the 75% retracement level of the June-July decline crossing at $15.12. Second resistance is the 87% retracement level of the June-July decline crossing at $15.47 3/4. First support is the 50-day moving average crossing at $14.15. Second support is the September 8th low crossing at $13.73.
December soybean meal closed down $5.60 at $423.30.
December soybean meal closed lower on Friday confirming yesterday's key reversal down. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $422.70 would signal that a short-term top has been posted. If December renews the rally off July's low, long-term resistance on the monthly continuation chart crossing at $457.00 is the next upside target. First resistance is Thursday's high crossing at $443.80. Second resistance is long-term resistance on the monthly continuation chart crossing at $457.00. First support is the 20-day moving average crossing at $422.70. Second support the 50-day moving average crossing at $412.90.
December soybean oil closed down 278-pts. at 63.68.
December soybean oil closed sharply lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the September 15th low crossing at 63.32 would temper the near-term friendly outlook. If December resumes the rally off July's low, the 62% retracement level of the June-July decline crossing at 69.82 is the next upside target. First resistance is the August 12th high crossing at 68.16. Second resistance is the 62% retracement level of the June-July decline crossing at 69.82. First support is September's low crossing at 61.24. Second support is the July 22nd low crossing at 55.53.
LIVESTOCKhttp://quotes.ino.com/exchanges/?c=livestock
December hogs closed down $2.88 at $82.80.
December hogs gapped down and closed sharply lower on Friday as it extends the decline off Tuesday's high. The low-range close sets the stage for a steady to lower opening when Monday's session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this week's decline, September's low crossing at $81.35 is the next downside target. Closes above the 50-day moving average crossing at $86.13 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at $86.13. Second resistance is Tuesday's high crossing at $89.08. First support is today's low crossing at $82.60. Second support is September's low crossing at $81.35.
December cattle closed down $0.68 at $148.68.
December cattle closed lower on Friday as it extends the decline off Tuesday's high. The mid-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. Today's close below the 50-day moving average crossing at $149.52 confirms that a double top with August's high has been posted. If December extends this week's decline, the 50% retracement level of the May-September rally crossing at $147.13 is the next downside target. Closes above the 10-day moving average crossing at $150.49 would signal that a short-term low has been posted. First resistance is Tuesday's high crossing at $152.23. Second resistance is April's high crossing at $152.38. First support is the 38% retracement level of the May-September rally crossing at $148.35. Second support is the 50% retracement level of the May-September rally crossing at $147.13.
November Feeder cattle closed up $0.20 at $178.25.
November Feeder cattle closed higher on Friday as it consolidated some of the decline off August's high. The mid-range close sets the stage for a steady 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 November extends the decline off August's high, the 75% retracement level of the May-August rally crossing at $176.00 is the next downside target. Closes above the 20-day moving average crossing at $183.57 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at $183.57. Second resistance is the 50-day moving average crossing at $185.70. First support is the 75% retracement level of the May-August rally crossing at $176.00. Second support is the 87% retracement level of the May-August rally crossing at $173.53.
FOOD & FIBERhttp://quotes.ino.com/ex changes/?c=food
December coffee closed lower on Friday. The mid-range close sets the stage for a steady to lower opening on Monday. 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 $22.57 would signal that a short-term low has been posted. If December renews the decline off August's high, the August 19th low crossing at 20.95 is the next downside target. First resistance is the 20-day moving average crossing at $22.57. Second resistance is August's high crossing at $24.30. First support is the August 19th low crossing at $20.95. Second support is August's low crossing at 20.28.
December cocoa gapped down and closed sharply lower on Friday. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are neutral to bearish signaling sideways to lower prices are possible near-term. If December extends the decline off August's high, weekly support on the continuation chart crossing at 19.46 is the next downside target. Closes above Monday's high crossing at 23.95 would signal that a short-term low has been posted.
March sugar closed lower on Friday as it consolidated some of the rally off Monday's low. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the August 30h high crossing at 18.34 would signal that a short-term low has been posted. If March extends this summer's decline, the 38% retracement level of the 2020-2022 rally crossing at 17.11 is the next downside target.
December cotton closed limit down on Friday. The low-range close sets the stage for a steady to lower opening on Monday. 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 August's high, the 87% retracement level of the July-August rally crossing at 87.46 is the next downside target. Closes above the 20-day moving average crossing at 103.72 would signal that a low has been posted.
thanks much tallpine!