KEY EVENTS TO WATCH FOR:
Monday, June 7, 2021
10:00 AM ET. May Employment Trends Index
ETI (previous 105.44)
ETI, Y/Y%
3:00 PM ET. April Consumer Credit
Consumer Credit Net Chg (USD) (previous +25.8B)
Tuesday, June 8, 2021
N/A 3rd Quarter Manpower U.S. Employment Outlook Survey
6:00 AM ET. May NFIB Index of Small Business Optimism
Small Business Idx (previous 99.8)
7:45 AM ET. Weekly Chain Store Sales Index
8:30 AM ET. April U.S. International Trade in Goods & Services
Trade Balance (USD) (previous -74.45B)
Exports (USD) (previous 200.03B)
Exports, M/M% (previous +6.6%)
Imports (USD) (previous 274.48B)
Imports, M/M% (previous +6.3%)
8:55 AM ET. Johnson Redbook Retail Sales Index
Ret Sales Mo-to-Date, M/M%
Ret Sales Mo-to-Date, Y/Y% (previous +13.1%)
Latest Wk, Y/Y% (previous +13.0%)
10:00 AM ET. 1st Quarter Quarterly Financial Report – Industry
10:00 AM ET. 1st Quarter Quarterly Financial Report - Retail Trade
10:00 AM ET. April Job Openings & Labor Turnover Survey
4:30 AM ET. API Weekly Statistical Bulletin
Crude Stocks, Net Chg (Bbls) (previous -5.4M)
Gasoline Stocks, Net Chg (Bbls) (previous +2.5M)
Distillate Stocks, Net Chg (Bbls) (previous +1.6M)
N/A World Bank's Global Economic Prospects report
Wednesday, June 9, 2021
7:00 AM ET. MBA Weekly Mortgage Applications Survey
Composite Idx (previous 665.9)
Composite Idx, W/W% (previous -4.0%)
Purchase Idx-SA (previous 261.4)
Purchase Idx-SA, W/W% (previous -3.1%)
Refinance Idx (previous 3022)
Refinance Idx, W/W% (previous -4.6%)
10:00 AM ET. May Online Help Wanted Index
10:00 AM ET. April Monthly Wholesale Trade
Inventories, M/M% (previous +1.3%)
10:30 AM ET. EIA Weekly Petroleum Status Report
Crude Oil Stocks (Bbl) (previous 479.27M)
Crude Oil Stocks, Net Chg (Bbl) (previous -5.079M)
Gasoline Stocks (Bbl) (previous 233.98M)
Gasoline Stocks, Net Chg (Bbl) (previous +1.499M)
Distillate Stocks (Bbl) (previous 132.802M)
Distillate Stocks, Net Chg (Bbl) (previous +3.72M)
Refinery Usage (previous 88.7%)
Total Prod Supplied (Bbl/day) (previous 19.14M)
Total Prod Supplied, Net Chg (Bbl/day) (previous -0.816M)
Thursday, June 10, 2021
8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims
Jobless Claims (previous 385K)
Jobless Claims, Net Chg (previous -20K)
Continuing Claims (previous 3771000)
Continuing Claims, Net Chg (previous +169K)
8:30 AM ET. May Real Earnings
8:30 AM ET. May CPI
CPI, M/M% (previous +0.8%)
Core CPI, M/M% (previous +0.9%)
Energy Idx, M/M% (previous -0.1%)
Food Idx, M/M% (previous +0.4%)
Real Avg Wkly Pay-Infla Adj, M/M% (previous +0.2%)
CPI, Y/Y% (previous +4.2%)
Core Annual, Y/Y% (previous +3%)
8:30 AM ET. U.S. Weekly Export Sales
Corn (Metric Tons)
Soybeans (Metric Tons)
Wheat (Metric Tons)
9:45 AM ET. Bloomberg Consumer Comfort Index
10:00 AM ET. SEC Investor Advisory Committee Quarterly Meeting
10:00 AM ET. 1st Quarter Quarterly Services
10:30 AM ET. EIA Weekly Natural Gas Storage Report
Working Gas In Storage (Cbf) (previous 2313B)
Working Gas In Storage, Net Chg (Cbf) (previous +98B)
12:00 PM ET. World Agricultural Supply & Demand Estimates (WASDE)
Corn, End Stocks (Bushels)
Soybeans, End Stocks (Bushels)
Wheat, End Stocks (Bushels)
Cotton, End Stocks (Bales)
2:00 PM ET. May Monthly Treasury Statement of Receipts & Outlays of the U.S. Govt
4:30 PM ET. Foreign Central Bank Holdings
4:30 PM ET. Federal Discount Window Borrowings
Friday, June 11, 2021
10:00 AM ET. June University of Michigan Survey of Consumers – preliminary
Mid-Mo Sentiment (previous 82.8)
Mid-Mo Expectations (previous 77.6)
Mid-Mo Current Idx (previous 90.8)
The STOCK INDEXES http://quotes.ino.com/ex changes/?c=indexes"
The STOCK INDEXES: The June NASDAQ 100 was lower overnight as it consolidates some of last-Friday's rally. The low-range trade 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 June extends the rally off May's low, the May 7th high crossing at 13,818.00 is the next upside target. Closes below the 20-day moving average crossing at 13,475.33 would signal that a short-term top has been posted. First resistance is the May 7th high crossing at 13,818.00. Second resistance is April's high crossing at 14,064.00. First support is the 62% retracement level of the March-April-rally crossing at 12,912.45. Second support is the 75% retracement level of the March-April-rally crossing at 12,666.46.
The June S&P 500 was lower overnight as it consolidates some of last-Friday's rally. The low-range overnight trade sets the stage for a steady to lower opening when the day session begins trading later this morning.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 the May 13th low, May's high crossing at 4238.25 is the next upside target. Closes below the 50-day moving average crossing at 4138.69 would signal that a double top with May's high has been posted while opening the door for additional weakness near-term. First resistance is last Friday's high crossing at 4232.00. Second resistance is May's high crossing at 4238.25. First support is the 50-day moving average crossing at 4138.69. Second support is the May 13th low crossing at 4029.25.
INTEREST RATES http://quotes.ino.com/ex changes/?c=interest"
INTEREST RATES: June T-bonds were lower overnight. 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 neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off May's low, the 25% retracement level of the 2020-2021-decline crossing at 159-19 is the next upside target. Closes below the 50-day moving average crossing at 157-08 would signal that a short-term top has been posted and would open the door for additional weakness near-term. First resistance is the 25% retracement level of the 2020-2021-decline crossing at 159-19. Second resistance is the 38% retracement level of the 2020-2021-decline crossing at 162-31. First support is the May 13th low crossing at 155-14. Second support is the March 30th low crossing at 153-29.
June T-notes were lower overnight as it consolidates some of last-Friday's rally. The low-range overnight trade sets the stage for a lower opening with the day session begins trading. Stochastics and the RSI are becoming overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off March's low, the May 17th high crossing at 132.215 is the next upside target. Closes below the 50-day moving average crossing at 132.076 would signal that a short-term top has been posted. First resistance is the May 17th high crossing at 132.215. Second resistance is the 38% retracement level of the 2020-2021-decline crossing at 134.053. First support is the 50-day moving average crossing at 132.076. Second support is May's low crossing at 131.265. Third support is the April 29th low crossing at 131.185.
ENERGY MARKETS? http://quotes.ino.com/ex?changes/?c=energy ""
July crude oil was steady to slightly lower in late-overnight trading. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends this year's rally, the October-2018 high on the monthly continuation chart crossing at $76.90 is the next upside target. Closes below the 20-day moving average crossing at $66.10 would signal that a short-term top has been posted. First resistance is the overnight high crossing at $70.00. Second resistance is the October-2018 high on the monthly continuation chart crossing at $76.90. First support is the 20-day moving average crossing at $66.10. Second support is the 50-day moving average crossing at $63.66.
July heating oil was slightly lower overnight. The mid-range overnight trade 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 July extends the aforementioned rally, the 87% retracement level of the 2018-2020-decline crossing at $2.1362 is the next upside target. Closes below the 20-day moving average crossing at $2.0474 would signal that a short-term top has been posted. First resistance is the overnight high crossing at $2.1315. Second resistance is the 87% retracement level of the 2018-2020-decline crossing at $2.1362. First support the 20-day moving average crossing at $2.0474. Second support is the 50-day moving average crossing at $1.9461.
July unleaded gas was steady to slightly lower in late-overnight trading. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends the rally off May's low, the May-2018 high on the monthly continuation chart crossing at $2.2855 is the next upside target. Closes below the 20-day moving average crossing at $2.1411 would signal that a short-term top has likely been posted. First resistance is last-Friday's high crossing at $2.2241. Second resistance is the May-2018 high on the monthly continuation chart crossing at $2.2855. First support is the 20-day moving average crossing at $2.1411. Second support is the 50-day moving average crossing at $2.0655.
July Henry natural gas was lower overnight. 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 neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 3.029 would temper the near-term bullish outlook. If July extends the rally off May's low, May's high crossing at 3.204 is the next upside target. First resistance resistance is May's high crossing at 3.204. Second resistance is monthly resistance crossing at 3.786. First support is the 20-day moving average crossing at 3.029. Second support is May's low crossing at 2.903
CURRENCIEShttp://quotes.ino.com/ex changes/?c=currencies"
CURRENCIES:The June Dollar was steady to slightly higher overnight. The low-range overnight trade sets the stage for a steady to slightly 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 last-Friday's high crossing at $90.63 would open the door for a possible test of the 50-day moving average crossing at $90.99. If June resumes the decline off March's high, January's low crossing at $89.16 is the next downside target. First resistance is the May 13th high crossing at $90.91. Second resistance is the May 5th high crossing at $91.44. First support is May's low crossing at $89.52. Second support is the January low crossing at $89.16.
The June Euro was steady to slightly lower overnight.The mid-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends last-week's decline, the 50-day moving average crossing at $120.58 is the next downside target. Closes above the 10-day moving average crossing at $121.98 would signal that a short-term low has been posted. First resistance is May's high crossing at $122.71. Second resistance is the 87% retracement level of the January-March-decline crossing at $121.43. First support is last-Friday's low crossing at $121.06. Second support is the 50-day moving average crossing at $120.58.
The June British Pound was steady to slightly higher overnight as it extends the trading range of the past four-weeks. The high-range overnight trade sets the stage for a steady to higher opening when the day session beings trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the reaction low crossing at 1.4091 would signal that a short-term top has been posted while opening the door for additional weakness near-term. If June renews this year's rally, the 87% retracement level of the 2018-2020-decline crossing at 1.4602 is the next upside target. First resistance is last-Tuesday's high crossing at 1.4256. Second resistance is the 87% retracement level of the 2018-2020-decline crossing at 1.4602. First support is the reaction low crossing at 1.4091. Second support is the 50-day moving average crossing at 1.3966.
The June Swiss Franc was steady to slightly higher overnight. 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 neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the May 19th low crossing at 1.1060 would signal that a short-term top has been posted while opening the door for additional weakness near-term. If June renews the rally off April's low, the 75% retracement level of the January-April-decline crossing at 1.1233 is the next upside target. First resistance is May's high crossing at 1.1203. Second resistance is the 75% retracement level of the January-April-decline crossing at 1.1233. First support is the 50-day moving average crossing at 1.0967. Second support is the May 19th low crossing at 1.1060.
The June Canadian Dollar was higher overnight as it extends the trading range of the past five-weeks. The high-range trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the May 13th low crossing at $81.95 would mark a downside breakout of the aforementioned trading range and would open the door for additional weakness near-term. If June resumes this year's rally, the May-2015 high on the monthly continuation chart crossing at $83.86 is the next upside target. First resistance is last-Tuesday's high crossing at $83.28. Second resistance is the May-2015 high on the monthly continuation chart crossing at $83.86. First support is the May 13th crossing at $81.95. Second support is the 50-day moving average crossing at $81.25.
The June Japanese Yen was steady to higher overnight as it consolidates some of the decline off April's high. 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 neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 0.091622 would signal that a short-term low has been posted. If June extends the decline off April's high, March's low crossing at 0.090180 is the next downside target. First resistance is the 38% retracement level of the January-March-decline crossing at 0.092994. Second resistance is the 50% retracement level of the January-March-decline crossing at 0.093874. First support is last-Thursday's low crossing at 0.090740. Second support is March's low crossing at 0.090180.
PRECIOUS METALS http://quotes.ino.com/ex changes/?c=metals"
PRECIOUS METALS: June gold was steady to slightly lower overnight. The mid-range overnight trade sets the stage for a steady to slightly lower opening when the day 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 $1873.80 would signal that a short-term top has been posted while opening the door for additional weakness near-term. If June renews the rally off March's low, the 62% retracement level of August-April-decline crossing at $1945.50 is the next upside target. First resistance is last-Tuesday's high crossing at $1916.20. Second resistance is 62% retracement level of August-April-decline crossing at $1945.50. First support is the 20-day moving average crossing at $1873.80. Second support is the 50-day moving average crossing at $1806.10.
July silver was lower overnight. The low-range overnight trade sets the stage for a steady to lower opening when the day session begins trading later this morning. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the May 21st low crossing at $27.265 would signal that a short-term top has been posted while opening the door for additional weakness near-term. If July renews the rally off March's low, the 87% retracement level of the January-March-decline crossing at $29.199 is the next upside target. First resistance is the 87% retracement level of the January-March-decline crossing at $29.199. Second resistance is February's high crossing at $30.015. First support is the May 21st low crossing at $27.265. Second support is the 50-day moving average crossing at $26.615.
July copper was lower overnight. 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends the decline off May's high, the 50-day moving average crossing at 4.4012 is the next downside target. If July resumes the rally off May's low, the May 18th high crossing at 4.7820 is the next upside target. First resistance is the May 18th high crossing at 4.7820. Second resistance is May's high crossing at 4.8880. First support is the 50-day moving average crossing at 4.4012. Second support is May's low crossing at 4.4350.
GRAINS http://quotes.ino.com/ex changes/?c=grains
July corn gapped up and was higher overnight due to a hot/dry weather forecast for portions of the upper Midwest as it renewed the rally off May's low. The mid-range close sets the stage for a steady to higher opening when the day sessions begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends the rally off May's low, May's high crossing at $7.35 1/4 is the next upside target. Closes below the 10-day moving average crossing at $6.63 would temper the near-term friendly outlook. First resistance is 75% retracement level of the 2012-2020-decline on the monthly continuation chart crossing at $7.07 3/4. Second resistance is May's high crossing at $7.35 1/4. First support is the 50% retracement level of this year's rally crossing at $6.06 3/4. Second support is the 62% retracement level of this year's rally crossing at $5.76 1/2.
July wheat gapped up and was higher overnight as it renewed the rally off May's low. The mid-range close 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 July extends the rally off May's low, the May 18th high crossing at $7.18 1/2 is the next upside target. Closes below last-Thursday's low crossing at $6.69 1/4 would signal that a short-term top has likely been posted. First resistance is the overnight high crossing at $7.04. Second resistance is the May 18th high crossing at $7.18 1/2. First support is the 75% retracement level of April's rally crossing at $6.36 1/2. Second support is the 87% retracement level of April's rally crossing at $6.15 1/4.
July Kansas City wheat gapped up and was higher overnight as it extends the rally off May's low. The mid-range close 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 July extends the rally off May's low, the May 18th high crossing at $6.70 1/2 is the next upside target. Closes below last-Thursday's low crossing at $6.17 1/2 would signal that a short-term top has likely been posted. First resistance is the overnight high crossing at $6.54 1/2. Second resistance is the May 18th high crossing at $6.70 1/2. First support is May's low crossing at $5.88. Second support is the 87% retracement level of the March-April-rally crossing at $5.83.
July Minneapolis wheat gapped up and was higher overnight as it extends the rally off May's low. The low-range close sets the stage for a steady to higher 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 July extends the aforementioned rally, the July-2017 high crossing at $8.68 1/2 is the next upside target. Closes below the 10-day moving average crossing at $7.46 1/2 would signal that a short-term top has been posted. First resistance is the overnight high crossing at $8.43 1/2. Second resistance is the aforementioned rally, the July-2017 high crossing at $8.68 1/2. First support is the 10-day moving average crossing at $7.46 1/2. Second support is the June 1st gap crossing at $7.36.
SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains "
July soybeans gapped up and was higher overnight as it extends the rally off May's low. The mid-range close 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 July extends the rally off May's low, May's high crossing at $16.67 1/2 is the next upside target. Closes below the 10-day moving average crossing at $15.45 1/2 would signal that a short-term top has been posted. First resistance is the overnight high crossing at $16.23 1/2. Second resistance is May's high crossing at $16.67 1/2. First support is the 10-day moving average crossing at $15.45 1/2. Second support is the 50-day moving average crossing at $14.99 3/4.
July soybean meal gapped up and was higher overnight. The mid-range close sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at $412.10 would signal that a short-term low has been posted. If July renews the decline off May's high, the 50% retracement level of the 2020-2021-rally crossing at $3.73.40 is the next downside target. First resistance is the 50-day moving average crossing at $412.10. Second resistance is May's high crossing at $457.20. First support is May's low crossing at $378.30. Second support is the 50% retracement level of the 2020-2021-rally crossing at $373.40.
July soybean oil was higher overnight as it extends this year's rally into uncharted territory. 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. If July extends this year's rally above the March-2008 high on the monthly continuation chart crossing at 71.26, upside targets will be hard to project. Closes below the 20-day moving average crossing at 67.24 would confirm that a short-term top has been posted while opening the door for additional weakness near-term. First resistance is the overnight high crossing at 73.74. Second resistance is unknown. First support is the 20-day moving average crossing at 67.24. Second support is the May 24th low crossing at 64.23.
LIVESTOCKhttp://quotes.ino.com/exchanges/?c=livestock
July hogs closed up $1.60 at $120.60.
July hogs closed higher on Friday as it extends the rally off last-October's low. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends this year's rally, the 87% retracement level of the 2014-2016 decline on the monthly continuation chart crossing at $121.70 is the next upside target. Closes below the 20-day moving average crossing at $114.68 would signal that a short-term top has been posted. First resistance is today's high crossing at $121.45. Second resistance is the 87% retracement level of the 2014-2016 decline on the monthly continuation chart crossing at $121.70. First support is the 20-day moving average crossing at $114.68. Second support is the 50-day moving average crossing at $109.40.
August cattle closed down $0.45 at $118.08.
August cattle closed lower on Friday as it consolidates some of the rally off Tuesday's low.The low-range close sets the stage for a steady to lower opening on Friday. 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 $119.72 would signal that a short-term low has been posted. If August renews the decline off May's high, January's low crossing at $111.92 is the next downside target. First resistance is last-Tuesday's high crossing at $121.23. Second resistance is May's high crossing at $122.80. First support is Tuesday's low crossing at $114.62. Second support is January's low crossing at $111.92.
August Feeder cattle closed down $3.03 at $149.93.
August Feeder cattle closed sharply lower on Friday as it consolidated some of the rally off Tuesday'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 turning neutral to bullish signaling that a low might be in or is near. Closes above the 50-day moving average crossing at $153.11 would signal that a short-term low has been posted. If August renews the decline off May's high, May's low crossing at $141.52 is the next downside target. First resistance is the 50-day moving average crossing at $153.11. Second resistance is the 75% retracement level of the April-May-decline crossing at $157.20. First support is Tuesday's low crossing at $145.10. Second support is May's low crossing at $141.52.
FOOD & FIBERhttp://quotes.ino.com/ex changes/?c=food
July coffee closed sharply higher on Friday ending the correction off Tuesday's high. The high-range close sets the stage for a steady to higher opening on Monday. 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 15.27 would signal that a short-term top has been posted. If July renews the rally off March's low, the November-2016 high on the monthly continuation chart crossing at 17.60 is the next upside target.
July cocoa closed lower on Friday. The mid-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. If July extends the decline off May's high, May's low crossing at 23.17 is the next downside target. If July renews the rally off May's low, the March 11th high crossing at 26.21 is the next upside target.
July sugar closed higher 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. If July extends the rally off May's low, May's high crossing at 18.25 is the next upside target. If July renews the decline off May's high, the 50-day moving average crossing at 16.56 is the next downside target.
July cotton closed higher on Friday and above the 20-day moving average crossing at 84.69 signaling that a short-term low has been posted. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If July extends today's rally, May's high crossing at 91.00 is the next upside target. If July renews the decline off April's high, the April 13th low crossing at 81.20 is the next downside target.
Thanks much tallpine!
We have weather markets going on in the grains and also natural gas right now.