INO Evening Market Comments
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Started by tallpine - Oct. 8, 2021, 4:36 p.m.

KEY EVENTS TO WATCH FOR:



Monday, October 11, 2021  



9:30 AM ET. G24 Ministers and Governors Meeting



10:00 AM ET. September Employment Trends Index



                       ETI (previous 110.37)

                       ETI, Y/Y%



Tuesday, October 12, 2021  



6:00 AM ET. September NFIB Index of Small Business Optimism



                       Small Business Idx (previous 100.1)



7:45 AM ET. Weekly Chain Store Sales Index



8:55 AM ET. Johnson Redbook Retail Sales Index



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

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

                       Latest Wk, Y/Y%



9:00 AM ET. IMF World Economic Outlook published



10:00 AM ET. August Job Openings & Labor Turnover Survey



10:30 AM ET. IMF Global Financial Stability Report published



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)



Wednesday, October 13, 2021 



7:00 AM ET. IMF Fiscal Monitor published



7:00 AM ET. MBA Weekly Mortgage Applications Survey



                       Composite Idx

                       Composite Idx, W/W%

                       Purchase Idx-SA

                       Purchase Idx-SA, W/W%

                       Refinance Idx

                       Refinance Idx, W/W%



8:15 AM ET. World Bank President David Malpass' Annual Meetings press briefing



8:30 AM ET. September Real Earnings



8:30 AM ET. September CPI



                       CPI, M/M% (previous +0.3%)

                       Core CPI, M/M% (previous +0.1%)

                       Energy Idx, M/M% (previous +2.0%)

                       Food Idx, M/M% (previous +0.4%)

                       Real Avg Wkly Pay-Infla Adj, M/M% (previous +0.3%)

                       CPI, Y/Y% (previous +5.3%)

                       Core Annual, Y/Y% (previous +4%)



10:00 AM ET. September Online Help Wanted Index



2:00 PM ET. September Monthly Treasury Statement of Receipts & Outlays of the U.S. Govt



2:00 PM ET. Federal Open Market Committee meeting minutes and economic forecast



4:30 PM ET. API Weekly Statistical Bulletin



                       Crude Stocks, Net Chg (Bbls)

                       Gasoline Stocks, Net Chg (Bbls)

                       Distillate Stocks, Net Chg (Bbls)



N/A               G20 Finance Ministers and Central Bank Governors Meeting



Thursday, October 14, 2021 



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. September PPI



                       PPI, M/M% (previous +0.7%)

                       Ex-Food & Energy PPI, M/M% (previous +0.6%)

                       Personal Consumption (previous +0.8%)



9:45 AM ET. Bloomberg Consumer Comfort Index



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



                       Working Gas In Storage (Cbf)

                       Working Gas In Storage, Net Chg (Cbf)



11:00 AM ET. EIA Weekly Petroleum Status Report



                       Crude Oil Stocks (Bbl)

                       Crude Oil Stocks, Net Chg (Bbl)

                       Gasoline Stocks (Bbl)

                       Gasoline Stocks, Net Chg (Bbl)

                       Distillate Stocks (Bbl)

                       Distillate Stocks, Net Chg (Bbl)

                       Refinery Usage

                       Total Prod Supplied (Bbl/day)

                       Total Prod Supplied, (Bbl/day) Net Chg



1:00 PM ET. IMF Debate on the Global Economy



4:30 PM ET. Federal Discount Window Borrowings



4:30 PM ET. Foreign Central Bank Holdings



Friday, October 15, 2021  



8:30 AM ET. October Empire State Manufacturing Survey



                       Mfg Idx (previous 34.3)

                       Employment Idx (previous 20.5)

                       New Orders Idx (previous 33.7)

                       Prices Received (previous 47.8)



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



                       Overall Sales-SA, M/M% (previous +0.7%)

                       Sales, Ex-Auto, M/M% (previous +1.8%)

                       Sales, Ex-Auto & Gas, M/M% (previous +2.0%)



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



                       Import Prices (previous -0.3%)

                       Non-Petroleum Prices (previous -0.1%)

                       Petroleum Prices (previous -2.4%)



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



                       Corn (Metric Tons) (previous 1265.1K)

                       Soybeans (Metric Tons) (previous 1041.9K)

                       Wheat (Metric Tons) (previous 333.2K)



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



                       Total Inventories (previous +0.5%)



10:00 AM ET. October University of Michigan Survey of Consumers – preliminary



                       Mid-Mo Sentiment (previous 71.0)

                       Mid-Mo Expectations (previous 67.1)

                       Mid-Mo Current Idx (previous 77.1)


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



The Dow closed slightly lower on Friday as it extends the trading range of the past three-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 signaling that sideways to higher prices are possible near-term. Closes above the September 27th high crossing at 35,061.12 would mark an upside breakout of the aforementioned trading range. Closes below the 10-day moving average crossing at 34,400.92 would signal that a short-term top has been posted. First resistance is the September 27th high crossing at 35,061.12. Second resistance is the August 30th high crossing at 35,510.71. First support is October low crossing at 33.785.54. Second support is September's low crossing at 33,613.03.  



The December NASDAQ 100 closed lower on Friday as it consolidated some of this week's rally off the 25% retracement level of the 2020-2021-rally crossing at 14,474.38. 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 a low might be in or is near. Closes above the 20-day moving average crossing at 15,035.58 would signal that a short-term low has been posted. If December renews the decline off September's high, the 38% retracement level of the 2020-2021-rally crossing at 13,825.88 is the next downside target. First resistance is the 20-day moving average crossing at 15,035.58. Second resistance is the 50-day moving average crossing at 15,162.40. First support is the 25% retracement level of the 2020-2021-rally crossing at 14,474.38. Second support is the 38% retracement level of the 2020-2021-rally crossing at 13,825.88.



The December S&P 500 closed slightly lower on Friday as it extends the rally off last-Friday'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 neutral to bullish signaling sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 4425.62 would confirm that a short-term low has been posted. If December resumes the decline off September's high, July's low crossing at 4214.50 is the next downside target. First resistance is the 50-day moving average crossing at 4425.62. Second resistance is the September 3rd high crossing at 4539.50. First support is last-Friday's low crossing at 4260.00. Second support is July's low crossing at 4214.50.    



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



December T-bonds closed down 20/32's at 157-26 

  

December T-bonds closed lower on Friday as it extended the decline off September'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 December extends the decline off September's high, the June 16th low crossing at 156-15 is the next downside target. Closes above the 20-day moving average crossing at 161-08 would signal that a short-term low has been posted. First resistance is Monday's high crossing at 160-20. Second resistance is the 20-day moving average crossing at 161-08. First support is the 62% retracement level of the March-August rally crossing at 157-13. Second support is the June 16th low crossing at 156-15.  



December T-notes closed down 75-pts at 131.050.



December T-notes closed lower on Friday as it renewed 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 sideways to lower prices are possible near-term. If December extends the decline off August's high, the 87% retracement level of the March-August rally crossing at 130.207 is the next downside target. Closes above the 20-day moving average crossing at 132.105 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 132.105. Second resistance is the 50-day moving average crossing at 133.006. First support is today's low crossing at 131.010. Second support is the 87% retracement level of the March-August rally crossing at 130.207. 



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



November crude oil closed higher on Friday and posted a new contract high as it extends the rally off August's low.The low-range close sets the stage for a steady to slightly higher opening when Monday's night session begins. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If November extends the rally off August's low, the October-2014 high on the monthly continuation chart crossing at $92.96 is the next upside target. Closes below the 20-day moving average crossing at $74.25 would confirm that a short-term top has been posted. First resistance is today's high crossing at $80.11. Second resistance is the October-2014 high on the monthly continuation chart crossing at $92.96.First support is the 20-day moving average crossing at $74.25. Second support is the 50-day moving average crossing at $70.33. 



November heating oil closed higher on Friday. The low-range close sets the stage for a steady to slightly higher opening when Monday's night trading session begins. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If November extends the rally off August's low, the 62% retracement level of the 2008-2020-decline on the monthly continuation chart crossing at $279.19 is the next upside target. Closes below the 20-day moving average crossing at $229.46 would signal that a short-term top has been posted. First resistance is Wednesday's high crossing at $252.13. Second resistance is the 62% retracement level of the 2008-2020-decline on the monthly continuation chart crossing at $279.19. First support is the 10-day moving average crossing at $239.10. Second support is the 20-day moving average crossing at $229.46.       



November unleaded gas closed higher on Friday and has renewed the rally off August'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 November extends the rally off August's low, the 62% retracement level of the 2008-2020-decline on the monthly continuation chart crossing at 238.83 is the next upside target. Closes below the 20-day moving average crossing at $218.41 would signal that a short-term top has been posted. First resistance is today's high crossing at $237.97. Second resistance is the 62% retracement level of the 2008-2020-declineon the monthly continuation chart crossing at 238.83. First support is the 10-day moving average crossing at $226.14. Second support is the 20-day moving average crossing at $218.41.    



November Henry natural gas closed lower on Friday as it extended the decline off Wednesday'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. Closes below the 20-day moving average crossing at 5.431 would confirm that a short-term top has been posted. If November extends this year's rally, the 62% retracement level of the 2008-2020-decline crossing at 6.671 is the next upside target. First resistance is Wednesday's high crossing at 6.466. Second resistance is the 62% retracement level of the 2008-2020-decline crossing at 6.671. First support is the 20-day moving average crossing at 5.458. Second support is the September 21st low crossing at 4.766.   



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



The December Dollar closed lower on Friday as it extended the trading range of the past two-weeks. 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off September's low, the 38% retracement level of the 2020-2021-decline crossing at $94.82 is the next upside target. Closes below the 20-day moving average crossing at $93.52 would signal that a short-term top has been posted. First resistance is last-Thursday's high crossing at 94.52. Second resistance is the 38% retracement level of the 2020-2021-decline crossing at $94.82. First support is Monday's low crossing at $93.68. Second support is the 20-day moving average crossing at $93.52.   



The December Euro closed higher on Friday as it consolidates some of the decline off September'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 aforementioned decline, the 62% retracement level of the 2020-2021-rally crossing at 114.56 is the next downside target. Closes above the 20-day moving average crossing at 116.96 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 116.22. Second resistance is the 20-day moving average crossing at 116.96. First support is Wednesday's low crossing at 115.45. Second support is the 62% retracement level of the 2020-2021-rally crossing at 114.56.



The December British Pound closed slightly higher on Friday. The mid-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are still possible. Closes above the 20-day moving average crossing at 1.3656 would signal that a short-term low has been posted. If December renews the decline off September's high, the 38% retracement level of the 2020-2021-rally crossing at 1.3223 is the next downside target. First resistance is the 20-day moving average crossing at 1.3656. Second resistance is the 50-day moving average crossing at 1.3747. First support is Wednesday's low crossing at 1.35444. Second support is the September 29th low crossing at 1.3412. 

 

The December Swiss Franc closed higher on Friday. 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 neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above Monday's high crossing at 1.0853 would confirm that a short-term low has been posted while opening the door for additional gains near-term. If December renews the decline off August's high, March's low crossing at 1.0654 is the next downside target. First resistance is Monday's high crossing at 1.1853. Second resistance is the 50-day moving average crossing at 1.0901. First support is the 87% retracement level of the March-June-rally crossing at 1.0730. Second support is March's low crossing at 1.0654.



The December Canadian Dollar closed higher on Friday and above September's high crossing at 80.09 as it extends the rally off September'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 December extends the rally off September's low, the July 30th high crossing at 80.46 is the next upside target. Closes below the 20-day moving average crossing at 78.97 would signal that a short-term top has been posted. First resistance is the July 30th high crossing at 80.46. Second resistance is the July 6th high crossing at 81.23. First support is the 20-day moving average crossing at 78.97. Second support is the September 29th low crossing at 78.27. Third support is September's low crossing at 77.54.  



The December Japanese Yen closed lower on Friday as it renewed the decline off September'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, the January-2018 low on the monthly continuation chart crossing at 0.087675 is the next downside target. Closes above the 20-day moving average crossing at 0.090437 would signal that a short-term low has been posted. First resistance is Tuesday's high crossing at 0.090235. Second resistance is the 20-day moving average crossing at 0.090437. First support is today's low crossing at 0.089125. Second support is the January-2018 low on the monthly continuation chart crossing at 0.087675.  



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



December gold closed lower on Friday as a late-day sell off erased early-session gins. At the same time December extended the trading range of the past five-days.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 the 50-day moving average crossing at $1781.40 would confirm that a short-term low has been posted. If December renews the decline off September's high, August's low crossing at $1677.90 is the next downside target. First resistance is the 50-day moving average crossing at $1781.40. Second resistance is the September 14th high crossing at $1810.60. First support is last-Wednesday's low crossing at $1721.10. Second support is August's low crossing at $1677.90.



December silver closed slightly higher 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 bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving acreage crossing at 23.545 would confirm that a short-term low has been posted. If December resumes the decline off May's high, the 50% retracement level of the 2020-March-August-rally crossing at 21.120 is the next downside target. First resistance is the 20-day moving average crossing at 22.689. Second resistance is the 50-day moving average crossing at 23.545. First support is last-Wednesday's low crossing at 21.410. Second support is the 50% retracement level of the March-August-rally crossing at 21.120.    



December copper closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. Multiple closes above the 50-day moving average crossing at 427.56 would signal that a short-term low has been posted. If December resumes the decline off September's high, August's low crossing at 396.65 is the next downside target. First resistance is the 50-day moving average crossing at 427.56. Second resistance is September's high crossing at 447.15. First support is September's low crossing at 401.60. Second support is August's low crossing at 396.65.  



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



December Corn closed down $0.04-cents at $5.30. 



December corn closed lower on Friday as it extends the trading range of the past eight-days. 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 20-day moving average crossing at $5.30 1/4 would signal that a short-term top has been posted. Closes above the September 30th high crossing at $5.48 1/2 would open the door for additional gains near-term. First resistance is the September 30th high crossing at $5.48 1/2. Second resistance is the August 30th high crossing at $5.58. First support is the 20-day moving average crossing at $5.30 1/4. Second support is the September 21st low crossing at $5.12 3/4. Second support is September's low crossing at $4.97 1/2.     



December wheat closed down $0.08 1/4-cents at $7.33.  



December wheat closed lower on Friday as it consolidated some of the rally off September'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 have turned neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at $7.26 3/4 would signal that a short-term top has been posted. If December renews the rally off September's low, August's high crossing at $7.86 1/2 is the next upside target. First resistance is Monday's high crossing at $7.63 1/2. Second resistance is the August high crossing at $7.86 1/2. First support is the 50-day moving average crossing at $7.26 3/4. Second support is the 20-day moving average crossing at $7.20.



December Kansas City Wheat closed down $0.05 1/4-cents at $7.36.

 

December Kansas City wheat closed lower on Friday as it extends the decline off Monday'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. Closes below the 50-day moving average crossing at $7.18 3/4 would confirm that a short-term top has been posted. If December renews the rally off September's low, August's high crossing at $7.69 is the next upside target. First resistance is Monday's high crossing at $7.61 3/4. Second resistance is August's high crossing at $7.69. First support is the 10-day moving average crossing at $7.34 1/2. Second support is the 50-day moving average crossing at $7.18 3/4.



December Minneapolis wheat closed up $0.04 1/4-cents at $9.46 1/2. 



December Minneapolis wheat closed higher on Friday as it extends Wednesday's breakout above August's high crossing at $9.37 1/2. The mid-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 December extends this week's breakout above the August high, monthly resistance on the continuation chart crossing at $9.66 1/4 is the next upside target. Closes below the 50-day moving average crossing at $9.07 1/4 would signal that a short-term top has been posted. First resistance is today's high crossing at $9.53. Second resistance is weekly resistance on the continuation chart crossing at $9.66 1/4. First support is the 50-day moving average crossing at $9.07 1/4. Second support is the September 21st low crossing at $8.81 3/4. Third support is September's low crossing at $8.61 1/2. 

       

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



November soybeans closed down $0.04 3/4-cents at $12.42 1/2.



November soybeans closed lower on Friday as it extends this week's trading range. 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 bullish signaling that a low might be in or is near. Closes above the the 20-day moving average crossing at $12.69 3/4 would confirm that a short-term low has been posted. If November renews the decline off August's high, March's low crossing at $11.84 is the next downside target. First resistance is the September 27th high crossing at $12.97. Second resistance is the September 16th high crossing at $13.08. First support is Tuesday's low crossing at $12.31. Second support is March's low crossing at $11.84.



December soybean meal closed down $0.40 at $318.90. 



December soybean meal closed lower on Friday as it extended the decline off May'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 December extends the decline off July's high, the 87% retracement level of the 2020-2021 rally crossing at $307.30 is the next downside target. Closes above the 20-day moving average crossing at $334.90 would signal that a low has been posted. First resistance is the 20-day moving average crossing at $334.90. Second resistance is the 50-day moving average crossing at $345.10. First support is today's low crossing at $318.00. Second support is the 87% retracement level of the 2020-2021 rally crossing at $307.30.      



December soybean oil closed down 77-pts. at 61.29. 



December soybean oil closed lower due to profit taking on Friday as it consolidated some of the rally off September'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 September's low, the August 16th high crossing at 64.00 is the next upside target. Closes below the 20-day moving average crossing at 58.01 would signal that a short-term top has been posted. First resistance is today's high crossing at 63.08. Second resistance is the August 16th high crossing at 64.00. First support is the 20-day moving average crossing at 58.01. Second support is September's low crossing at 54.18.  

 

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



December hogs closed down $0.53 at $81.50. 



December hogs closed lower on Friday as it extended the decline off last-Thursday'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. Closes below the 20-day moving average crossing at $78.60 would signal that a short-term top has been posted. If December extends the rally off September's low the July high crossing at $86.25 is the next upside target. First resistance is July's high crossing at $86.25. Second resistance is June's high crossing at $89.55. First support is the 50-day moving average crossing at $80.13. Second support is the 20-day moving average crossing at $78.60. Third support is the September 27th gap crossing at $77.20.  



December cattle closed up $0.08 at $130.17. 



December cattle closed slightly higher on Friday as it extended the rally off October's low. The mid-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off September's low, the 50-day moving average crossing at $131.20 is the next upside target. Closes below Wednesday's low crossing at $127.13 would signal that a short-term top has been posted. First resistance is today's high crossing at $130.60. Second resistance is the 50-day moving average crossing at $131.20. First support is Wednesday's low crossing at $127.13. Second support is October's low crossing at $125.00. 



November Feeder cattle closed down $0.60 at $161.00. 



November feeder cattle closed lower on Friday as it consolidates some of the rally off September's low. The low-range close sets the stage for a steady to lower opening when Monday's session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If November extends the aforementioned rally, the 50-day moving average crossing at $163.07 is the next upside target. Closes below the 10-day moving average crossing at $156.63 would signal that a short-term top has been posted. First resistance is today's high crossing at $162.13. Second resistance is the 50-day moving average crossing at $163.07. First support is the 10-day moving average crossing at $156.63. Second support is September's low crossing at $152.00. Third support is the 87% retracement level of the May-August-rally crossing at $151.04.  



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



December coffee closed higher on Friday. The mid-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If December renews the rally off September's low, July's high crossing at $217.86 is the next upside target. Closes below the 50-day moving average crossing at $188.57 would signal that a short-term top has been posted.   



December cocoa closed higher on Friday. The mid-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 26.54 would signal that a short-term top has been posted. If December resumes the aforementioned rally, the November-2020 high on the weekly continuation chart crossing at 28.21 is the next upside target.                              



March sugar closed higher on Friday as it extend the trading range of the past-four weeks. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above 20.38 or below 19.31 are needed to confirm a breakout of the September-October trading range.



December cotton posted a downside reversal as it closed lower on Friday as it consolidated some of the rally off September's low. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the aforementioned rally, the 50% retracement level of the 2011-2020 decline on the monthly continuation chart crossing at 134.17 is the next upside target. Closes below the 20-day moving average crossing at 99.03 would signal that a short-term top has been posted. 

Comments
By metmike - Oct. 9, 2021, 3:30 p.m.
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Thanks tallpine!

South America crops/weather:.thanks cutworm

https://www.marketforum.com/forum/topic/75828/


Farmland values going way up!..Wayne comments on inflation........what about fertilizer?

https://www.marketforum.com/forum/topic/75823/


Natural gas........thanks Jim, Mark and Joe...huge reversal lower on Wednesday!! EIA very bearish Thursday but ng still finishes a bit higher......now lower on Friday.

https://www.marketforum.com/forum/topic/75565/


New: EIA energy report thru 2050....go fossil fuels.

https://www.marketforum.com/forum/topic/75896/


New: Coffee.....finishes the week with massive rally ........even with bearish weather.

https://www.marketforum.com/forum/topic/75900/


New: cotton......2nd highest price in the last 25 years.....new long term price chart. Reversal lower on Friday from the highest price in over a decade.

https://www.marketforum.com/forum/topic/75654/


S&P..........thanks kris, Gunter

https://www.marketforum.com/forum/topic/75137/


Exports........bullish sales!

https://www.marketforum.com/forum/topic/75773/



crop conditions

https://www.marketforum.com/forum/topic/75776/