INO Evening Market Comments
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Started by tallpine - Oct. 12, 2021, 4:59 p.m.

KEY EVENTS TO WATCH FOR:



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)



Monday, October 18, 2021  



9:15 AM ET. September Industrial Production & Capacity Utilization



                       Industrial Production, M/M% (previous +0.4%)

                       Capacity Utilization % (previous 76.4%)

                       Capacity Utilization, Net Chg (Pts) (previous +0.2)



10:00 AM ET. October NAHB Housing Market Index



                       Housing Mkt Idx (previous 76)



Tuesday, October 19, 2021  



7:45 AM ET. Weekly Chain Store Sales Index



8:30 AM ET. September New Residential Construction - Housing Starts and Building Permits



                       Total Starts (previous 1.615M)

                       Housing Starts, M/M% (previous +3.9%)

                       Building Permits (previous 1.728M)

                       Building Permits, M/M% (previous +6.0%)



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%



4:30 PM ET. API Weekly Statistical Bulletin



                       Crude Stocks, Net Chg (Bbls)

                       Gasoline Stocks, Net Chg (Bbls)

                       Distillate Stocks, Net Chg (Bbls)


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



The Dow closed lower on Tuesday as it extends the trading range of the past four-weeks. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that signaling that sideways to lower prices are possible near-term. Closes below the 10-day moving average crossing at 34,373.98 would signal that a short-term top has been posted. Closes above the September 27th high crossing at 35,061.12 would mark an upside breakout of the trading range of the past four-weeks. 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 Tuesday as it consolidated some of the rally off the 25% retracement level of the 2020-2021-rally crossing at 14,474.38. The mid-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If December renews the decline off September's high, the 38% retracement level of the 2020-2021-rally crossing at 13,825.88 is the next downside target. Closes above the 20-day moving average crossing at 14,961.23 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 14,961.23. Second resistance is the 50-day moving average crossing at 15,151.09. 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 lower on Tuesday as it consolidates some of the rally off October's low. The mid-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling sideways to lower prices are possible near-term. If December resumes the decline off September's high, July's low crossing at 4214.50 is the next downside target. Closes above the 50-day moving average crossing at 4424.35 would confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 4424.35. Second resistance is the September 27th high crossing at 4472.00. First support is October'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 up 1-02/32's at 158-17 

  

December T-bonds closed higher on Tuesday as it consolidates some the decline off September's high. The high-range close sets the stage for a steady to higher opening when Wednesday'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 160-22 would signal that a short-term low has been posted. First resistance is last-Monday's high crossing at 160-20. Second resistance is the 20-day moving average crossing at 160-22. 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 up 95-pts at 131.045.



December T-notes closed higher on Tuesday as it consolidates some of the decline off August's high. The high-range close sets the stage for a steady to higher opening when Wednesday'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 132.026 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 132.026. Second resistance is the 50-day moving average crossing at 132.285. First support is Monday's low crossing at 130.255. 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 Monday as it extends the rally off August's low.The mid-range close sets the stage for a steady to slightly higher opening when Wednesday'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 $75.29 would confirm that a short-term top has been posted. First resistance is Monday's high crossing at $82.18. 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 $75.29. Second support is the 50-day moving average crossing at $70.71. 



November heating oil posted an inside day with a lower close on Tuesday as it consolidates some of the rally off August's low. The mid-range close sets the stage for a steady to lower opening when Wednesday'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 $232.98 would signal that a short-term top has been posted. First resistance is Monday's high crossing at $253.76. 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 $243.51. Second support is the 20-day moving average crossing at $232.98.       



November unleaded gas closed slightly higher on Tuesday as it extended the rally off August's low. The mid-range close sets the stage for a steady to slightly higher opening when Wednesday'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 January-2014 high on the monthly continuation chart crossing at 250.10 is the next upside target. Closes below the 20-day moving average crossing at $221.12 would signal that a short-term top has been posted. First resistance is Monday's high crossing at $241.15. Second resistance is the January-2014 highon the monthly continuation chart crossing at 250.10. First support is the 10-day moving average crossing at $230.53. Second support is the 20-day moving average crossing at $221.12.    



November Henry natural gas closed higher on Tuesday as it consolidated some of the decline off last-Wednesday's high. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If November extends the aforementioned decline, the 50-day moving average crossing at 4.802 is the next downside target. Closes above last-Friday's high crossing at 5.876 would signal that a short-term low has been posted. If November renews 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 last-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 today's low crossing at 5.168. Second support is the 50-day moving average crossing at 4.802.   



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



The December Dollar closed higher on Tuesday marking an upside breakout of an ascending triangle and renewed the rally off May's low. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off September's low, the 38% retracement level of the 2020-2021-decline on the monthly continuation chart crossing at $94.82 is the next upside target. Closes below the 20-day moving average crossing at $93.69 would signal that a short-term top has been posted. First resistance is today's high crossing at 94.57. Second resistance is the 38% retracement level of the 2020-2021-decline crossing at $94.82. First support is the 20-day moving average crossing at $93.69. Second support is the 50-day moving average crossing at $93.11.    



The December Euro closed lower on Tuesday as it extends the decline off May's high. The low-range close sets the stage for a steady to lower opening when Wednesday'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 116.69 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 115.92. Second resistance is the 20-day moving average crossing at 116.69. First support is today's low crossing at 115.38. Second support is the 62% retracement level of the 2020-2021-rally crossing at 114.56.



The December British Pound closed lower on Tuesday. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are still possible. Closes above Monday's high crossing at 1.3675 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 Monday's high crossing at 1.3675. Second resistance is the 50-day moving average crossing at 1.3736. First support is last-Wednesday's low crossing at 1.35444. Second support is the September 29th low crossing at 1.3412. 

 

The December Swiss Franc closed lower on Tuesday. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If December renews the decline off August's high, March's low crossing at 1.0654 is the next downside target. Closes above last-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. First resistance is last-Monday's high crossing at 1.1853. Second resistance is the 50-day moving average crossing at 1.0889. First support is September's low crossing at 1.0693. Second support is March's low crossing at 1.0654.



The December Canadian Dollar closed higher on Tuesday as it extends the rally off September's low. The mid-range close sets the stage for a steady to lower opening when Wednesday'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 6th high crossing at 81.23 is the next upside target. Closes below the 20-day moving average crossing at 80.46 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 79.77. 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 Tuesday as it extends the decline off September's high. The low-range close sets the stage for a steady to lower opening when Wednesday’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 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 0.090143 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 0.089412. Second resistance is the 20-day moving average crossing at 0.090143. First support is today's low crossing at 0.087915. 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 higher on Tuesday as it extends the trading range of the past seven-days.The mid-range close sets the stage for a steady to higher opening when Wednesday'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 $1778.90 would confirm that a short-term low has been posted. If December renews the decline off September's high, September's low crossing at $1721.10 is the next downside target. First resistance is the 50-day moving average crossing at $1778.90. Second resistance is the September 14th high crossing at $1810.60. First support is September's low crossing at $1721.10. Second support is August's low crossing at $1677.90.



December silver closed slightly lower on Tuesday. The mid-range close sets the stage for a steady to lower opening when Wednesday'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 23.426 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 50-day moving average crossing at 23.426. Second resistance is September's high crossing at 24.945. First support is September'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 lower on Tuesday as it consolidates some of the rally off September's low but remains above the 50-day moving average crossing at 427.19. The mid-range close sets the stage for a steady to slightly higher opening when Wednesday'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 Monday's rally, September's high crossing at 447.15 is the next upside target. If December resumes the decline off September's high, August's low crossing at 396.65 is the next downside target. First resistance is September's high crossing at 447.15. Second resistance is July's high crossing at 458.00. 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 $0.10 1/2-cents at $5.221/2. 



December corn closed lower on Tuesday and marked a downside breakout of the past two-weeks. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Today's WASDE report showed that the USDA raised its 2021 corn production estimate by 72 million bushels of corn  to 15.019 billion bushels. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Today's close below the reaction low crossing at $5.27 1/4 signaling that a short-term top has been posted. If December extends today's decline, the September 21st low crossing at $5.12 3/4 is the next downside target. Closes above the September 30th high crossing at $5.48 1/2 would renew the rally off September's low. 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 September 21st low crossing at $5.12 3/4. Second support is September's low crossing at $4.97 1/2.     



December wheat closed up $0.02 1/4-cents at $7.34.  



December wheat closed higher on Tuesday following today's WASDE report that showed that the USDA left export estimates unchanged at 875 million bushels. U.S. ending stocks for 2021/22 dropped 35 million bushels to 580 million bushels, which was the lowest level since 2007/08. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $7.24 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 last-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 20-day moving average crossing at $7.24. Second support is the September 30th low crossing at $7.01 1/4.



December Kansas City Wheat closed up $0.05 1/4-cents at $7.39 3/4.

 

December Kansas City wheat posted a key reversal up and closed higher on Tuesday signaling that the decline off last-Monday's high might have come to an end. The high-range close sets the stage for a steady to higher opening when Wednesday'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 50-day moving average crossing at $7.20 1/4 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 last-Monday's high crossing at $7.61 3/4. Second resistance is August's high crossing at $7.69. First support is the 20-day moving average crossing at $7.25 1/4. Second support is the 50-day moving average crossing at $7.20 1/4.



December Minneapolis wheat closed up $0.09 1/2-cents at $9.55. 



December Minneapolis wheat closed higher on Tuesday as it extends the rally off September's low. The high-range close sets the stage for a steady to higher opening when Wednesday'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 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 $9.09 1/4 would signal that a short-term top has been posted. First resistance is today's high crossing at $9.60. Second resistance is weekly resistance on the continuation chart crossing at $9.66 1/4. First support is the 10-day moving average crossing at $9.32 3/4. Second support is the 50-day moving average crossing at $9.09 1/4.  

       

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



November soybeans closed down $0.30-cents at $11.98 1/4.



November soybeans closed sharply lower on Tuesday as it extends the decline off June's high. Today's WASDE report showed that the USDA raised their soybean production estimate by 75 million bushels to 4.4 billion bushels. The USDA increased yield estimates to 51.5 bushels per acre, which is 0.9 of a bushel over September's estimate. Soybean supplies for 2021/22 rose by 145 million bushels, to 4.7 billion bushels. Higher crush and unchanged exports raised  2021/22 ending stocks to 320 million bushels, up 135 million from their September estimate. Today's low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If November extends the decline off August's high, March's low crossing at $11.84 is the next downside target. Closes above the 20-day moving average crossing at $12.62 3/4 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at $12.62 3/4. Second resistance is the 50-day moving average crossing at $12.94. First support is today's low crossing at $11.94 1/2. Second support is March's low crossing at $11.84.



December soybean meal closed down $4.10 at $313.00. 



December soybean meal closed lower on Tuesday as it extended the decline off May's high. The low-range close sets the stage for a steady to lower opening when Wednesday'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 $332.00 would signal that a low has been posted. First resistance is the 20-day moving average crossing at $332.0. Second resistance is the 50-day moving average crossing at $343.50. First support is today's low crossing at $311.70. Second support is the 87% retracement level of the 2020-2021 rally crossing at $307.30.      



December soybean oil closed down 166-pts. at 58.85. 



December soybean oil closed lower on Tuesday as it extended the decline off last-Friday's high. The low-range close sets the stage for a steady to lower opening when Wednesday'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 20-day moving average crossing at 58.36 would signal that a short-term top has been posted. If December renews the rally off September's low, the August 16th high crossing at 64.00 is the next upside target. First resistance is last-Friday'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 58.36. Second support is September's low crossing at 54.18.  

 

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



December hogs closed down $2.10 at $78.08. 



December hogs closed lower on Tuesday as it extended the decline off October's high and closed below the 20-day moving average crossing at $79.24 signaling that a short-term top has been posted. The low-range close sets the stage for a steady to lower opening when Wednesday'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 September 27th gap crossing at $77.20 is the next downside target. Closes above the 10-day moving average crossing at $82.33 would signal that a short-term low has been posted. First resistance is Monday's gap crossing at $81.43. Second resistance is the 10-day moving average crossing at $82.33. First support is the September 27th gap crossing at $77.20. Second support is September's low crossing at $71.27. 



December cattle closed down $0.85 at $129.33. 



December cattle closed lower on Tuesday as it consolidates some of the rally off October's low. The low-range close sets the stage for a steady to lower opening on Wednesday. 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 $131.08 is the next upside target. Closes below last-Wednesday's low crossing at $127.13 would signal that a short-term top has been posted. First resistance is last-Friday's high crossing at $130.60. Second resistance is the 50-day moving average crossing at $131.08. First support is last-Wednesday's low crossing at $127.13. Second support is October's low crossing at $125.00. 



November Feeder cattle closed up $0.33 at $162.05. 



November feeder cattle closed higher on Tuesday as it extends the rally off September's low. The high-range close sets the stage for a steady to higher opening when Wednesday'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 $162.91 is the next upside target. Closes below the 20-day moving average crossing at $157.49 would signal that a short-term top has been posted. First resistance is today's high crossing at $162.48. Second resistance is the 50-day moving average crossing at $162.91. First support is the 20-day moving average crossing at $157.49. 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 sharply higher on Tuesday. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends 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 $189.76 would signal that a short-term top has been posted.   



December cocoa closed lower on Tuesday. The low-range close sets the stage for a steady to lower opening on Wednesday. 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 26.57 would signal that a short-term top has been posted. If December resumes the rally off July's low, the November-2020 high on the weekly continuation chart crossing at 28.21 is the next upside target.                              



March sugar closed lower on Tuesday as it extend the trading range of the past-four weeks. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI have turned 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 closed lower on Tuesday as it extends the decline off last-Friday's high. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 100.51 would signal that a short-term top has been posted. If December extends the rally off September's low, the 50% retracement level of the 2011-2020 decline on the monthly continuation chart crossing at 134.17 is the next upside target. 

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