INO Evening Market Comments
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Started by tallpine - April 2, 2018, 4:34 p.m.

KEY EVENTS TO WATCH FOR:



Tuesday, April 3, 2018  



7:45 AM ET. The Retail Economist/Goldman Sachs Weekly Chain Store Sales Index



                       Chain Store Sales, W/W% (previous +4.3%)



                       Chain Store Sales, M/M% (previous +3.6%)



8:55 AM ET. Johnson Redbook Retail Sales Index



                       Ret Sales Mo-to-Date, M/M% (previous +0.1%)



                       Ret Sales Mo-to-Date, Y/Y% (previous +3.2%)



                       Latest Wk, Y/Y% (previous +3.6%)



9:45 AM ET. March ISM-NY Report on Business



                       Business Index (previous 54.5)



10:00 AM ET. April IBD/TIPP Economic Optimism Index



                       Economic Optimism Idx (previous 55.6)



                       6-Mo Economic Outlook (previous 52.9)



11:00 AM ET. March Global Manufacturing PMI



                       PMI, Mfg (previous 54.2)



16:00 AM ET. March Domestic Auto Industry Sales



                       Auto Sales Annualized (expected 16.9M; previous 17.08M)



4:30 PM ET. API Weekly Statistical Bulletin



                       Crude Stocks, Net Chg (Bbls) (previous +5.3M)



                       Gasoline Stocks, Net Chg (Bbls) (previous -5.8M)



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



Wednesday, April 4, 2018  



7:00 AM ET. MBA Weekly Mortgage Applications Survey



                       Composite Idx (previous 401.3)



                       Composite Idx, W/W% (previous +4.8%)



                       Purchase Idx-SA (previous 257.6)



                       Purchase Idx-SA, W/W% (previous +3.1%)



                       Refinance Idx (previous 1188.5)



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



8:15 AM ET. March ADP National Employment Report



                       Private Sector Jobs, Net Chg (expected +200000; previous +235000)



9:45 AM ET. March US Services PMI



                       PMI, Services (previous 55.9)



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



                       Total Orders, M/M% (expected +1.7%; previous -1.4%)



                       Orders, Ex-Defense, M/M% (previous -0.8%)



                       Orders, Ex-Transport, M/M% (previous +0.4%)



                       Durable Goods, M/M% (previous -3.7%)



                       Durable Goods, M/M% (previous -3.6%)



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



10:00 AM ET. March ISM Non-Manufacturing Report on Business



                       Non-Mfg Composite Idx (expected 59.0; previous 59.5)



                       Non-Mfg Business Idx (previous 62.8)



                       Prices Idx (previous 61.0)



                       Employment Idx (previous 55.0)



                       New Orders Idx (previous 64.8)



10:00 AM ET. March Online Help Wanted Index



10:30 AM ET. EIA Weekly Petroleum Status Report



                       Crude Oil Stocks (Bbl) (previous 429.949M)



                       Crude Oil Stocks, Net Chg (Bbl) (previous +1.643M)



                       Gasoline Stocks (Bbl) (previous 239.593M)



                       Gasoline Stocks, Net Chg (Bbl) (previous -3.472M)



                       Distillate Stocks (Bbl) (previous 128.954M)



                       Distillate Stocks, Net Chg (Bbl) (previous -2.09M)



                       Refinery Usage (previous 92.3%)



                       Total Prod Supplied (Bbl/day) (previous 20.917M)



                       Total Prod Supplied, Net Chg (Bbl/day) (previous +0.242M)

                       

2:00 PM ET. SEC Closed Meeting



Thursday, April 5, 2018 



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



                       Job Cuts, M/M% (previous -20%)



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



                       Corn (Metric Tons) (previous 1455.8K)



                       Soybeans (Metric Tons) (previous 899.1K)



                       Wheat (Metric Tons) (previous 428.6K)



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



                       Jobless Claims (expected 225K; previous 215K)



                       Jobless Claims, Net Chg (previous -12K)



                       Continuing Claims (previous 1871000)



                       Continuing Claims, Net Chg (previous +35K)



8:30 AM ET. February U.S. International Trade in Goods & Services



                       Trade Balance (USD) (expected -56.8B; previous -56.60B)



                       Exports (USD) (previous 200.91B)



                       Exports, M/M% (previous -1.3%)



                       Imports (USD) (previous 257.51B)



                       Imports, M/M% (previous +0.0%)



9:45 AM ET. Bloomberg Consumer Comfort Index



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



                       Working Gas In Storage (Cbf) (previous 1383B)



                       Working Gas In Storage, Net Chg (Cbf) (previous -63B)

                       

11:00 AM ET. March Global Services PMI



                       PMI, Services (previous 54.8)



4:30 PM ET. Foreign Central Bank Holdings



4:30 PM ET. Federal Discount Window Borrowings



4:30 PM ET. Money Stock Measures



  N/A              IMF Global Financial Stability Report analytical chapters



Friday, April 6, 2018 



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



                       Non-Farm Payrolls (expected +173K; previous +313K)



                       Unemployment Rate (expected 4.0%; previous 4.1%)



                       Avg Hourly Earnings (USD) (previous 26.75)



                       Avg Hourly Earnings-Net Chg (USD) (previous +0.04)



                       Avg Hourly Earnings, M/M% (expected +0.2%; previous +0.15%)



                       Avg Hourly Earnings, Y/Y% (previous +2.6%)



                       Overall Workweek (previous 34.5)



                       Overall Workweek Net Chg (previous +0.1)



                       Government Payrolls (previous +26K)



                       Private Payroll (previous +287K)



                       Participation Rate (previous 63.0%)



                       Non-Farm Payrolls Bench Net Chg



3:00 PM ET. February Consumer Credit



                       Consumer Credit Net Chg (USD) (expected +15.0B; previous +13.91B)



Monday, April 9, 2018 



9:30 AM ET. SEC Fixed Income Market Structure Advisory Committee Meeting



10:00 AM ET. March Employment Trends Index



                       ETI (previous 107.74)



                       ETI, Y/Y% (previous +5.6%)



1100/1500          IMF World Economic Outlook analytical chapters



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



The June NASDAQ 100 closed sharply lower on Monday thereby renewing the decline off March's high. Today’s weakness has everything to do with China’s announced tariffs. Even though they were quite small, there’s a fear that this could escalate. Weakness in tech and internet stocks remain the main focus for investors. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are oversold and are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the decline off March's high, February's low crossing at 6192.50 is the next downside target. Closes above the 20-day moving average crossing at 6851.59 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 6670.60. Second resistance is the 20-day moving average crossing at 6851.59. First support is today's low crossing at 6326.50. Second support is February's low crossing at 6192.50. 



The June S&P 500 closed sharply lower on Monday as it renewed the decline off March's high. The low-range close sets the stage for a steady to lower opening when Tuesday'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 June extends the decline off March's high, the 38% retracement level of the 2016-2018-rally crossing at 2533.51 is the next downside target. Closes above the 50-day moving average crossing at 2728.81 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 2648.59. Second resistance is the 50-day moving average crossing at 2728.81. First support is today's low crossing at 2554.00. Second support is the 38% retracement level of the 2016-2018-rally crossing at 2533.51.



The Dow plunged to its lowest level since February on Monday. Today's sell off was largely triggered by China’s announced tariffs. Even though they were quite small, there’s a fear that this could escalate into a trade war. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are oversold and remain neutral to bearish signaling that sideways to lower prices are possible near-term. If the Dow extends the decline off March's high, weekly support crossing at 23,101.28 is the next downside target. Closes above the 20-day moving average crossing at 24,524.57 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 24,524.57. Second resistance is the 50-day moving average crossing at 25,014.77. First support is today's low crossing at 23,344.52. Second support is weekly support crossing at 23,101.28.     



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



June T-bonds closed up 3/32's at 146-23.



June T-bonds closed higher on Monday as a steep fall in the stock market stirred up haven-related buying in U.S. government paper. The high-range close sets the stage for a steady to higher opening when Tuesday'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 June extends the rally off February's low, the 50% retracement level of the December-February-decline crossing at 147-14 is the next upside target. Closes below the 20-day moving average crossing at 144-14 are needed to confirm that a short-term top has been posted. First resistance is the 50% retracement level of the December-February-decline crossing at 147-14. Second resistance is the 62% retracement level of the December-February-decline crossing at 148-28. First support is the 20-day moving average crossing at 114-14. Second support is the reaction low crossing at 142-30.     



June T-notes closed up 25 pts at 121-070.



June T-notes closed higher on Monday as it extends the rally off February's low. The high-range close sets the stage for a steady to higher opening when Tuesday'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 June extends the rally off February's low, the 38% retracement level of the 2017-2018-decline crossing at 121.257 is the next upside target. Closes below the 20-day moving average crossing at 120.133 would confirm that a short-term top has been posted. First resistance is today's high crossing at 121.110. Second resistance is the 38% retracement level of the 2017-2018-decline crossing at 121.257. First support is the 20-day moving average crossing at 120.133. Second resistance is the reaction low crossing at 119.220.     



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



May crude oil posted a key reversal down on Monday as it extends the decline off March's high.The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins. Stochastics and the RSI are neutral to bearish signaling that a short-term top might be in or is near. Closes below the 50-day moving average crossing at 62.65 would confirm that a double top with January's high has been posted. If April resumes the rally off February's low, the 62% retracement level of the 2014-2016-decline crossing at 70.46 is the next upside target. First resistance is March's high crossing at 66.55. Second resistance is the 62% retracement level of the 2014-2016-decline crossing at 70.46.First support is the 50-day moving average crossing at 62.65. Second support is March's low crossing at 59.91.



May heating oil closed sharply lower on Monday as it consolidates some of the rally off March's low. The low-range close sets the stage for a steady to lower opening when Tuesday's night trading session begins. 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 194.33 are needed to confirm that a short-term top has been posted. If May renews the rally off February's low, January's high crossing at 208.95 is the next upside target. First resistance is the reaction high crossing at 207.28. Second resistance is January's high crossing at 208.95. First support is the 50-day moving average crossing at 195.59. Second support is the 20-day moving average crossing at 194.33.  



May unleaded gas closed sharply lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. Multiple closes below the 20-day moving average crossing at 196.50 would confirm that a short-term top has been posted. If May renews the rally off February's low, January's high crossing at 210.12 is the next upside target. First resistance is last Monday's high crossing at 205.45. Second resistance is February's high crossing at 208.89. First support is the 20-day moving average crossing at 196.50. Second support is the reaction low crossing at 187.30.  



May Henry natural gas closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday'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 May renews the decline off March's high, December's low crossing at 2.504 is the next downside target. If May extends the rally off March's low, March's high crossing at 2.831 is the next upside target. First resistance is last Thursday's high crossing at 2.764. Second resistance is March's high crossing at 2.831. First support is February's low crossing at 2.600. Second support is December's low crossing at 2.504. 



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



The June Dollar closed lower on Monday while extending the trading range of the past three-months.The high-range close sets the stage for a steady to higher opening when Tuesday'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 90.35 or below 78.83 are needed to confirm a breakout of the aforementioned trading range. First resistance is the 38% retracement level of the November-February-decline crossing at 90.35. Second resistance is the 50% retracement level of the November-February-decline crossing at 91.13. First support is March's low crossing at 88.53. Second support is February's low crossing at 87.83. 



The June Euro closed slightly higher on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the decline off March's high, the 50% retracement of the November-February-rally crossing at 121.97 is the next downside target. If June resumes the rally off the March 1st low, February's high crossing at 126.58 is the next upside target. First resistance is March's high crossing at 125.54. Second resistance is February's high crossing at 126.58. First support is the March 1st low crossing at 122.54. Second support is the 50% retracement level of the November-February-rally crossing at 121.97.   



The June British Pound posted an inside day with a higher close on Monday as it consolidates some of last week's decline. The mid-range close sets the stage for a steady opening when Tuesday'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 1.4052 are needed to confirm that a short-term top has been posted. If June renews the rally off March's low, the reaction high crossing at 1.4352 is the next upside target. First resistance is the reaction high crossing at 1.4352. Second resistance is February's high crossing at 1.4404. First support is the 20-day moving average crossing at 1.4052. Second support is March's low crossing at 1.3779.



The June Swiss Franc closed higher due to short covering on Monday as it consolidated some of last Wednesday's decline. The mid-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the decline off February's high, the 62% retracement level of the November-February-rally crossing at 1.0458 is the next downside target. Closes above the 50-day moving average crossing at 1.0710 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1.0621. Second resistance is the 50-day moving average crossing at 1.0710. First support is last Thursday's low crossing at 1.0499. Second support is the 62% retracement level of the November-February-rally crossing at 1.0458. 



The June Canadian Dollar closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Multiple closes below the 10-day moving average crossing at 77.42 would confirm that a short-term top has been posted. If June resumes the rally off March's low, the 50-day moving average crossing at 78.89 is the next upside target. First resistance is the reaction high crossing at 78.26. Second resistance is the 50-day moving average crossing at 78.89. First support is March's low crossing at 76.33. Second support is weekly support crossing at 76.04.  



The June Japanese Yen closed higher on Monday as it consolidates some of last Wednesday's decline. The high-range close sets the stage for a steady to higher opening when Tuesday’s night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends this week's decline, the 50-day moving average crossing at 0.9381 is the next downside target. If June renews the rally off January's low, the 62% retracement level of 2016's trading range crossing at 0.9732 is the next upside target. First resistance is the 50% retracement level of 2016's trading range crossing at 0.9542. Second resistance is the 62% retracement level of 2016's trading range crossing at 0.9732. First support is the 50-day moving average crossing at 0.9381. Second support is the reaction low crossing at 0.9343.   



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



June gold closed sharply higher on Monday as the dollar struggled then steadied and select stock indexes flirted with correction territory.The move allowed the precious metal to build on what was a third quarterly gain in a row to start the year, although, notably, the slimmest three-month rise for the asset in seven years. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If June renews the rally off March's low, February's high crossing at 1369.60 is the next upside target. If June renews last week's decline, the 50% retracement level of the December-January-rally crossing at 1311.50 is the next downside target. First resistance is February's high crossing at 1369.60. Second resistance is January's high crossing at 1375.50. First support is the 50% retracement level of the December-January-rally crossing at 1311.50. Second support is the 62% retracement level of the December-January-rally crossing at 1296.30.



May silver closed sharply higher on Monday as it consolidates some of last week's decline. The high-range close set the stage for a steady to higher opening when Tuesday'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 16.697 are needed to confirm that a short-term low has been posted. Closes below March's low crossing at 16.100 would confirm a downside breakout of the February-March trading range. Closes above the 50-day moving average crossing at 16.689 are needed to confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 16.689. Second resistance is the reaction high crossing at 17.025. First support is March's low crossing at 16.100. Second support is December's low crossing at 15.705.     



May copper closed higher on Monday as it consolidates some of the decline off February's high.The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 307.56 are needed to confirm that a short-term low has been posted. If May renews the decline off February's high, the 38% retracement level of the 2016-2018-rally crossing at 281.96 is the next downside target. First resistance is the 20-day moving average crossing at 307.56. Second resistance is the 50-day moving average crossing at 314.69. First support is March's low crossing at 293.75. Second support is last September's low crossing at 293.25.



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



May Corn closed down a 1/4-cent at 3.87 1/2. 



May corn closed fractionally lower on Monday due to concerns of China's announcement of tariffs involving commodities. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends the rally off March's low, March's high crossing at 3.95 1/4 is the next upside target. First resistance is today's high crossing at 3.92 1/2. Second resistance is March's high crossing at 3.95 1/4. First support is the 62% retracement level of this year's rally crossing at 3.69 1/2. Second support is the 75% retracement level of this year's rally crossing at 3.64. 



May wheat closed down 4 1/4-cents at 4.46 3/4. 



May wheat closed lower on Monday leaving last Thursday's key reversal up unconfirmed. The low-range close sets the stage for a steady to lower opening when Tuesday'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 May extends the decline off March's high, the 87% retracement level of the December-March-rally crossing at 4.36 is the next downside target. Closes above the March 19th gap crossing at 4.67 are needed to confirm that a short-term low has been posted. First resistance is the March 19th gap crossing at 4.67. Second resistance is the 20-day moving average crossing at 4.71 3/4. First support is last Thursday's low crossing at 4.41 1/2. Second support is the 87% retracement level of the December-March-rally crossing at 4.36.      



May Kansas City Wheat closed up a 1/4-cents at 4.67 1/2. 



May Kansas City wheat closed fractionally higher on Monday. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends this month's decline, the 75% retracement level of the December-March-rally crossing at 4.54 3/4 is the next downside target. Closes above last Monday's high crossing at 4.85 1/2 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 4.97. Second resistance is the March 19th gap crossing at 4.99 1/4. First support is last Thursday's low crossing at 4.56. Second support is the 75% retracement level of the December-March-rally crossing at 4.54 3/4.    



May Minneapolis wheat closed down 5-cents at 5.73 1/2. 



May Minneapolis wheat closed lower on Monday as it extends the decline off March's high. The low-range close sets the stage for a steady to lower opening when Tuesday'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 May extends the decline off January's high, the December-2016 low crossing at 5.59 1/4 is the next downside target. Closes above the 50-day moving average crossing at 6.13 1/4 are needed to confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 6.13 1/4. Second resistance is the reaction high crossing at 6.29 3/4. First support is today's low crossing at 5.72 1/2. Second support is the December-2016 low crossing at 5.59 1/4. 



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



May soybeans closed down 7 3/4-cents at 10.37. 



May soybeans closed lower on Monday following news that China has placed tariffs on some 120 US products, which include some farm commodities.The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends the rally off March's low, March's high crossing at 10.82 1/2 is the next upside target. If May renews the decline off March's high, the 62% retracement level of the January-March-rally crossing at 10.04 is the next downside target. First resistance is today's high crossing at 10.60 1/2. Second resistance is March's high crossing at 10.82 1/2. First support is March's low crossing at 10.09 1/4. Second support is the 62% retracement level of the January-March-rally crossing at 10.04. 



May soybean meal closed down $6.80 at 377.20. 



May soybean meal closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends the rally off March's low, March's high crossing at 404.00 is the next upside target. If May renews the decline off March's high, the 62% retracement level of the January-March-rally crossing at 348.30 is the next downside target. First resistance is today's high crossing at 389.70. Second resistance is March's high crossing at 404.00. First support is the 50% retracement level of the January-March-rally crossing at 359.00. Second support is the 62% retracement level of the January-March-rally crossing at 348.30.  



May soybean oil closed up 17 pts. At 32.04. 



May soybean oil closed higher on Monday. The mid-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that a low might be in or is near. Closes above the 50-day moving average crossing at 32.27 are needed to confirm that a short-term low has been posted. If May renews the decline off January's high, the January-2016 low crossing at 30.67 is the next downside target. First resistance is the 50-day moving average crossing at 32.27. Second resistance is the late-February high crossing at 32.96. First support is last Tuesday's low crossing at 31.58. Second support is the January-2016 low crossing at 30.67.



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



June hogs closed down $3.00 at $73.55. 



June hogs gapped lower on the opening and closed limit down on Monday following China's announcement to place a tariff on pork. The low-range close sets the stage for a steady to lower opening when Tuesday's session begins trading. Stochastics and the RSI are turning neutral to bearish with today's limit down close signaling that sideways to lower prices are possible near-term. If June extends the decline off January's high, weekly support crossing at 71.99 is the next downside target. Closes above the 20-day moving average crossing at 77.09 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 77.09. Second resistance is the reaction high crossing at 79.60. First support is last Wednesday's low crossing at 72.95. Second support is weekly support crossing at 71.99.



June cattle closed down $1.63 at 100.95. 



June cattle closed sharply lower on Monday as it extended the decline off February's high. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bullish signaling that sideways to lower prices are possible near-term. If June extends the decline off February's high, the 87% retracement level of 2017's rally crossing at 99.63 is the next downside target. Closes above the 20-day moving average crossing at 109.85 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 106.08. Second resistance is the 20-day moving average crossing at 109.85. First support is the 87% retracement level of 2017's rally crossing at 99.63. Second support is the March 2017 low crossing at 96.40.

 

May Feeder cattle closed down $1.65 at $131.37. 



May Feeder cattle closed lower on Monday as it extends the decline off February's high. The low-range close sets the stage for a steady to lower opening when Tuesday'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 May extends the aforementioned decline, last June's low crossing at 131.10 is the next downside target. Closes above the 20-day moving average crossing at 140.55 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 140.55. Second resistance is the reaction high crossing at 145.00. First support is today's low crossing at 131.60. Second support is last June's low crossing at 131.10.   



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



May coffee closed lower on Monday as it extends this year's decline. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends the decline off January's high, weekly support crossing at 11.55 is the next downside target. Closes above the 50-day moving average crossing at 12.17 are needed to confirm that a low has been posted.     



May cocoa closed higher on Monday. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are diverging but are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends the rally off December's low, the 75% retracement level of the 2016-2017-decline crossing at 27.55 is the next upside target. Closes below the 20-day moving average crossing at 25.26 would confirm that a short-term top has been posted. 



May sugar closed higher on Monday as it consolidated some of the decline off March's high. The high-range close set the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are oversold, diverging and are turning neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 12.74 are needed to confirm that a low has been posted. If May extends this year's decline, weekly support crossing at 12.00 is the next downside target. 



May cotton closed lower on Monday. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends the decline off March's high, the reaction low crossing at 79.23 is the next downside target. Closes above the 20-day moving average crossing at 82.70 would confirm that a short-term low has been posted. 

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