KEY EVENTS TO WATCH FOR:

Thursday, November 22, 2018

  N/A              U.S: Thanksgiving Day. Financial markets closed

  N/A              Marianas: Thanksgiving Day

Friday, November 23, 2018  

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

                       Corn (Metric Tons) (previous 893.9K)

                       Soybeans (Metric Tons) (previous 470.9K)

                       Wheat (Metric Tons) (previous 438.3K)

9:45 AM ET. November US Flash Services PMI

                       PMI, Services (previous 54.7)

9:45 AM ET. November US Flash Manufacturing PMI

                       PMI, Mfg (previous 55.9)

1:00 PM ET. U.S. financial markets close early after Thanksgiving

4:30 PM ET. Federal Discount Window Borrowings

4:30 PM ET. Money Stock Measures

4:30 PM ET. Foreign Central Bank Holdings

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

The December NASDAQ 100 closed higher on Wednesday as it consolidated some of this week's sharp decline. The mid-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are 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, February's low crossing at 6385.25 is the next downside target. Closes above the 20-day moving average crossing at 6886.43 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 6886.43. Second resistance is the 50-day moving average crossing at 7196.40. First support is Tuesday's low crossing at 6449.50. Second support is February's low crossing at 6385.25. 

The December S&P 500 closed higher due to short covering on Wednesday as it consolidated some of this week's decline.The mid-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off November's high, April's low crossing at 2583.60 is the next downside target. Closes above the 10-day moving average crossing at 2721.93 would confirm that a short-term low has been posted. First resistance is the reaction high crossing at 2748.00. Second resistance is the 50-day moving average crossing at 2803.14. First support is the 87% retracement level of the April-September-rally crossing at 2628.96. Second support is April's low crossing at 2583.60. 

The Dow posted an inside day with a slightly lower close on Wednesday.Today's low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If the Dow extends the decline off November's high the 87% retracement level of the April-September-rally crossing at 23,812.03 is the next downside target. Closes above the 10-day moving average crossing at 25,273.08 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 25,273.08. Second resistance is the 50-day moving average crossing at 25,728.73. First support is Wednesday's low crossing at 24,368.98. Second support is October's low crossing at 24,899.77.

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

December T-bonds closed down 6/32's at 139-27.

December T-bonds closed lower on Wednesday as it extends the rally off November's low. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off November's low, the 50% retracement level of the August-October-decline crossing at 140-28 is the next upside target. Closes below the 20-day moving average crossing at 138-18 would confirm that a short-term top has been posted. First resistance is the 38% retracement level of the August-October-decline crossing at 139-27. Second resistance is the 50% retracement level of the August-October-decline crossing at 140-28. First support is November's low crossing at 136-24. Second support is October's low crossing at 136-16.         

December T-notes closed down 50-points at 119-060.

December T-notes closed lower on Wednesday as it extended the rally off November's low. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off November's low, the 75% retracement level of the August-October-decline crossing at 119.266 is the next upside target. Closes below the 50-day moving average crossing at 118.151 would confirm that a short-term top has been posted. First resistance is the 62% retracement level of the August-October-decline crossing at 119.130. Second resistance is the 75% retracement level of the August-October-decline crossing at 119.266. First support is the 50-day moving average crossing at 118.151. Second support is November's low crossing at 117.225.         

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

January crude oil closed higher on Wednesday as it consolidated some of Tuesday's decline. The mid-range close sets the stage for a steady to higher opening when Friday'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 2017-2018-rally crossing at 49.96 is the next downside target. Closes above the 20-day moving average crossing at 60.84 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 57.07. Second resistance is the 20-day moving average crossing at 60.84.First support is Tuesday's low crossing at 52.77. Second support is the 87% retracement level of the 2017-2018-rally crossing at 49.96. 

January heating oil closed lower on Wednesday as it extended the decline off October's high. The low-range close sets the stage for a steady to lower opening when Friday's night trading session begins. Stochastics and the RSI are 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 62% retracement level of the 2017-2018-rally crossing at 185.86 is the next downside target. Closes above the 20-day moving average crossing at 215.24 are needed to confirm that a low has been posted. First resistance is the 10-day moving average crossing at 207.61. Second resistance is the 20-day moving average crossing at 215.24. First support is today's low crossing at 195.84. Second support is the 62% retracement level of the 2017-2018-rally crossing at 185.86.

January unleaded gas closed higher on Wednesday as it consolidated some of Tuesday's decline. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If January extends the decline off October's high, the 87% retracement level of the 2017-2018-rally crossing at 170.90 is the next downside target. Closes above the 20-day moving average crossing at 164.77 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 155.66. Second resistance is the 20-day moving average crossing at 164.77. First support is Tuesday's low crossing at 146.24. Second support is the 87% retracement level of the 2017-2018-rally crossing at 140.90.

January Henry natural gas closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If January extends the rally off September's low, the 25% retracement level of the 2008-2016-decline crossing at 5.204 is the next upside target. Closes below the 20-day moving average crossing at 3.784 would confirm that a short-term top has been posted. First resistance is last-Wednesday's high crossing at 4.929. Second resistance is the 25% retracement level of the 2008-2016-decline crossing at 5.204. First support is the 10-day moving average crossing at 4.199. Second support is the 20-day moving average crossing at 3.784.     

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

The December Dollar closed lower on Wednesday. The mid-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December renews the rally off September's low, weekly resistance crossing at 97.83 is the next upside target. If December extends the decline off last-Monday's high, the 50-day moving average crossing at 95.51 is the next downside target. First resistance is last-Monday's high crossing at 97.53. Second resistance is weekly resistance crossing at 97.83. First support is the 50-day moving average crossing at 95.51. Second support is October's low crossing at 94.47.     

The December Euro closed higher on Wednesday. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December renews the decline off September's high, the 87% retracement level of the 2016-2018-rally crossing at 113.54 is the next downside target. If December extends the rally off November's low, the 50-day moving average crossing at 115.52 is the next upside target. First resistance is the reaction high crossing at 115.46. Second resistance is the 50-day moving average crossing at 115.52. First support is November's low crossing at 112.46. Second support is the 87% retracement level of the 2016-2018-rally crossing at 111.16.    

The December British Pound closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off November's high, October's low crossing at 1.2722 is the next downside target. Closes above last-Wednesday's high crossing at 1.3092 would confirm that a short-term low has been posted. First resistance is last-Wednesday's high crossing at 1.3092. Second resistance is November's high crossing at 1.3198. First support is October's low crossing at 1.2722. Second support is the 87% retracement level of the 2017-2018-rally crossing at 1.2632. 

The December Swiss Franc closed higher on Wednesday.The mid-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends this week's rally, the 50-day moving average crossing at 1.0156 is the next upside target. If December resumes the decline off September's high, weekly support crossing at 0.9833 is the next downside target. First resistance is Tuesday's high crossing at 1.0114. Second resistance is the 50-day moving average crossing at 1.0156. First support is November's low crossing at 0.9902. Second support is weekly support crossing at 0.9833. 

The December Canadian Dollar closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off October's high, September's low crossing at 75.75 is the next downside target. Closes above the 50-day moving average crossing at 76.69 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 76.02. Second resistance is the 50-day moving average crossing at 76.69. First support is today's low crossing at 75.11. Second support is June's low crossing at 75.00. 

The December Japanese Yen closed lower on Wednesday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. The low-range close sets the stage for a steady to lower opening when Friday’s night session begins trading. Closes above the 50-day moving average crossing at 0.0890 are needed to confirm that a short-term low has been posted. If December resumes the decline off October's high, November's low crossing at 0.0877 is the next downside target. First resistance is October's high crossing at 0.0901. Second resistance is September's high crossing at 0.0912. First support is November's low crossing at 0.0877. Second support is the 87% retracement level of the 2015-2016 rally crossing at 0.0876.

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

December gold closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December renews the rally off October's low, the 38% retracement level of the April-August-Decline crossing at 1251.30 is the next upside target. Closes below last-Tuesday's low crossing at 1196.60 would confirm that a short-term top has been posted while opening the door for additional weakness near-term. First resistance is October's high crossing at 1246.00. Second resistance is the 38% retracement level of the April-August-Decline crossing at 1251.30. First support is last-Tuesday's low crossing at 1196.60. Second support is October's low crossing at 1186.00.

December silver closed higher on Wednesday while extending the September-October trading range. The high-range close set the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the reaction high crossing at 14.950 would confirm an upside breakout of the aforementioned trading range while opening the door for additional gains near-term. Closes below last-Wednesday's low crossing at 13.860 would confirm a downside breakout of the aforementioned trading range. First resistance is the reaction high crossing at 14.950. Second resistance is the reaction high crossing at 15.070. First support is last-Wednesday's low crossing at 13.860. Second support is the December-2015 low crossing at 13.620.        

December copper closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 273.29 are needed to confirm that a short-term top has been posted. If December extends the rally off August's low, the 38% retracement level of the June-August-decline crossing at 287.20 is the next upside target. First resistance is the 38% retracement level of the June-August-decline crossing at 287.20. Second resistance is the July-5^th gap crossing at 293.10. First support is November's low crossing at 264.25. Second support is September's low crossing at 258.00.

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

December Corn closed unchanged at 3.61 1/4. 

December corn closed unchanged on Wednesday. The low-range close sets the stage for a steady to lower opening when Friday's night sessions begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the reaction low crossing at 3.60 1/2 would confirm that a short-term top has been posted. If December resumes the rally off September's low, the 50% retracement level of the May-September-decline crossing at 3.85 3/4 is the next upside target. First resistance is October's high crossing at 3.78 1/2. Second resistance is the 50% retracement level of the May-September-decline crossing at 3.85 3/4. First support is the reaction low crossing at 3.60 1/4. Second support is reaction low crossing at 3.54 1/2.

December wheat closed down 2 3/4-cents at 4.98. 

December wheat closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off last-Tuesday's high, October's low crossing at 4.85 1/2 is the next downside target. If December renews the rally off October's low, October's high crossing at 5.27 is the next upside target. First resistance is October's high crossing at 5.27. Second resistance is the reaction high crossing at 5.49 1/2. First support is October's low crossing at 4.85 1/2. Second support is January's low crossing at 4.73 3/4.   

December Kansas City Wheat closed down 4-cents at 4.69. 

December Kansas City wheat closed lower on Wednesday as it extends the decline off August's high. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off October's high, weekly support crossing at 4.53 is the next downside target. Closes above the 50-day moving average crossing at 5.07 1/4 is the next upside target. First resistance is the 20-day moving average crossing at 4.91. Second resistance is the 50-day moving average crossing at 5.07 1/4. First support is today's low crossing at 4.68. Second support is weekly support crossing at 4.53. 

December Minneapolis wheat closed up 2 1/4-cent at 5.72. 

December Minneapolis wheat closed higher on Wednesday.The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December renews the decline off October's high, September's low crossing at 5.60 1/4 is the next downside target. Closes above November's high crossing at 5.90 would confirm that a short-term low has been posted while opening the door for a possible test of October's high crossing at 6.02 1/4. First resistance is November's high crossing at 5.90. Second resistance is October's high crossing at 6.02 1/4. First support is October's low crossing at 5.65 3/4. Second support is September's low crossing at 5.60 1/4.   

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

January soybeans closed up 3 1/2-cents at 8.84 1/2.

January soybeans closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 8.71 1/4 would confirm that a short-term top has been posted. If January resumes the rally off September's low, the 38% retracement level of the May-September-decline crossing at 9.15 3/4 is the next upside target. First resistance is the 38% retracement level of the May-September-decline crossing at 915 3/4. Second resistance is the 50% retracement level of the May-September-decline crossing at 9.44. First support is the 50-day moving average crossing at 8.71 1/4. Second support is October's low crossing at 8.44 1/2.  

December soybean meal closed up $0.40 at 307.50. 

December soybean meal closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are turning neutral signaling that sideways trading is possible near-term. Closes below September's low crossing at 301.60 would confirm a downside breakout of the September-October trading range. Closes above the 50-day moving average crossing at 311.10 would confirm that a short-term low has been posted. First resistance is October's high crossing at 327.30. Second resistance is the 38% retracement level of the May-September-decline crossing at 336.20. First support is October's low crossing at 302.00. Second support is September's low crossing at 301.60. 

December soybean oil closed up 51 pts. at 27.85. 

December soybean oil closed higher on Wednesday as it consolidated some of the decline off October's low. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 28.47 would confirm that a short-term low has been posted. If December extends the decline off October's high, September's low crossing at 27.13 is the next downside target. First resistance is the 20-day moving average crossing at 27.85. Second resistance is the 50-day moving average crossing at 28.47. First support is Tuesday's low crossing at 27.17. Second support is September's low crossing at 27.13.  

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

December hogs closed down $0.70 at $58.28. 

December hogs closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 50-day moving average crossing at 56.85 would temper the near-term friendly outlook. If December extends the rally off October's low, April's high crossing at 62.90 is the next upside target. First resistance is Monday's high crossing at 61.43. Second resistance is April's high crossing at 62.90. First support is November's low crossing at 54.00. Second support is October's low crossing at 51.27.    

December cattle closed up $0.70 at 116.40. 

December cattle closed higher on Wednesday. The mid-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the reaction high crossing at 117.23 would confirm that a short-term low has been posted. If December resumes the decline off October's high, the 50% retracement level of the April-October-rally crossing at 113.34 is the next downside target. First resistance is the reaction high crossing at 118.80. Second resistance is October's high crossing at 119.75. First support is the 50% retracement level of the April-October-rally crossing at 113.34. Second support is the 62% retracement level of the April-October-rally crossing at 111.83.   

January Feeder cattle closed up $1.75 at $148.63. 

January Feeder cattle closed higher on Wednesday. The mid-range close sets the stage for a steady to higher opening when Friday's session begins trading. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. Today's close above the 20-day moving average crossing at 147.54 confirms that a short-term low has been posted. If January renews the decline off October's high, the  75% retracement level of the May-August-rally crossing at 140.89 is the next downside target. First resistance is the 50-day moving average crossing at 150.88. Second resistance is November's high crossing at 151.25. First support is November's low crossing at 142.67. Second support is the 75% retracement level of the May-August-rally crossing at 140.89.    

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

December coffee closed lower on Wednesday 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 Friday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below last-Tuesday's low crossing at 10.75 would open the door for additional weakness near-term. Closes above the 20-day moving average crossing at 11.41 would confirm that a short-term low has been posted.            

December cocoa closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening on Friday. 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, October's low crossing at 19.82 is the next downside target. Closes above the 20-day moving average crossing at 22.26 would confirm that a short-term low has been posted.    

March sugar closed higher on Wednesday. The high-range close set the stage for a steady to higher opening on Friday. Stochastics and the RSI are oversold but are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 13.03 would confirm that a short-term low has been posted. If March extends the decline off October's high, the reaction low crossing at 11.91 is the next downside target.  

December cotton closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December resumes decline off October's high, weekly support crossing at 74.00 is the next downside target. Closes above the 50-day moving average crossing at 77.81 would confirm that a short-term low has been posted.