KEY EVENTS TO WATCH FOR:
Tuesday, January 4, 2022
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% (previous +17.3%)
Latest Wk, Y/Y% (previous +21.4%)
10:00 AM ET. November Job Openings & Labor Turnover Survey
10:00 AM ET. December ISM Report On Business Manufacturing PMI
Manufacturing PMI (previous 61.1)
Prices Idx (previous 82.4)
Employment Idx (previous 53.3)
Inventories (previous 56.8)
New Orders Idx (previous 61.5)
Production Idx (previous 61.5)
11:00 AM ET. December Global Manufacturing PMI
PMI, Mfg (previous 54.2)
4:00 AM ET. December Domestic Auto Industry Sales
4:30 AM ET. API Weekly Statistical Bulletin
Crude Stocks, Net Chg (Bbls) (previous -3.1M)
Gasoline Stocks, Net Chg (Bbls) (previous -0.3M)
Distillate Stocks, Net Chg (Bbls) (previous -0.7M)
Wednesday, January 5, 2022
7:00 AM ET. MBA Weekly Mortgage Applications Survey
Composite Idx (previous 588.4)
Composite Idx, W/W% (previous -0.6%)
Purchase Idx-SA (previous 287.5)
Purchase Idx-SA, W/W% (previous -3.3%)
Refinance Idx (previous 2402.7)
Refinance Idx, W/W% (previous +2.2%)
7:00 AM ET. MBA Weekly Mortgage Applications Survey
Composite Idx (previous 588.4)
Composite Idx, W/W% (previous -0.6%)
Purchase Idx-SA (previous 287.5)
Purchase Idx-SA, W/W% (previous -3.3%)
Refinance Idx (previous 2402.7)
Refinance Idx, W/W% (previous +2.2%)
8:15 AM ET. December ADP National Employment Report
Private Sector Jobs, Net Chg (previous +534000)
9:45 AM ET. December US Services PMI
PMI, Services (previous 58.0)
10:30 AM ET. EIA Weekly Petroleum Status Report
Crude Oil Stocks (Bbl) (previous 419.995M)
Crude Oil Stocks, Net Chg (Bbl) (previous -3.576M)
Gasoline Stocks (Bbl) (previous 222.659M)
Gasoline Stocks, Net Chg (Bbl) (previous -1.459M)
Distillate Stocks (Bbl) (previous 122.428M)
Distillate Stocks, Net Chg (Bbl) (previous -1.726M)
Refinery Usage (previous 89.7%)
Total Prod Supplied (Bbl/day) (previous 22.218M)
Total Prod Supplied, Net Chg (Bbl/day) (previous +1.764M)
2:00 PM ET. Federal Open Market Committee meeting minutes and economic forecast
Thursday, January 6, 2022
7:30 AM ET. December Challenger Job-Cut Report
Job Cuts, M/M% (previous -34.82%)
8:30 AM ET. U.S. Weekly Export Sales
Corn (Metric Tons)
Soybeans (Metric Tons)
Wheat (Metric Tons)
8:30 AM ET. November U.S. International Trade in Goods & Services
Trade Balance (USD) (previous -67.1B)
Exports (USD) (previous 223.6B)
Exports, M/M% (previous +8.1%)
Imports (USD) (previous 290.7B)
Imports, M/M% (previous +0.9%)
8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims
Jobless Claims
Jobless Claims, Net Chg
Continuing Claims
Continuing Claims, Net Chg
9:45 AM ET. Consumer Comfort Index
10:00 AM ET. December ISM Report On Business Services PMI
Non-Mfg Composite Idx (previous 69.1)
Non-Mfg Business Idx (previous 74.6)
Prices Idx (previous 82.3)
Employment Idx (previous 56.5)
New Orders Idx (previous 69.7)
10:00 AM ET. November Manufacturers' Shipments, Inventories & Orders (M3)
Total Orders, M/M% (previous +1.0%)
Orders, Ex-Defense, M/M% (previous +1.6%)
Orders, Ex-Transport, M/M% (previous +1.6%)
Durable Goods, M/M%
Durable Goods, M/M%
10:30 AM ET. EIA Weekly Natural Gas Storage Report
Working Gas In Storage (Cbf)
Working Gas In Storage, (Cbf) Net Chg
11:00 AM ET. December Global Services PMI
PMI, Services (previous 55.6)
4:30 PM ET. Federal Discount Window Borrowings
4:30 PM ET. Foreign Central Bank Holdings
Friday, January 7, 2022
8:30 AM ET. December U.S. Employment Report
Non-Farm Payrolls (expected +405K; previous +210K)
Unemployment Rate (expected 4.1%; previous 4.2%)
Avg Hourly Earnings (USD) (previous 31.03)
Avg Hourly Earnings-Net Chg (USD) (previous +0.08)
Avg Hourly Earnings, M/M% (expected +0.4%; previous +0.26%)
Avg Hourly Earnings, Y/Y% (expected +4.2%; previous +4.80%)
Overall Workweek (previous 34.8)
Overall Workweek Net Chg (previous +0.1)
Government Payrolls (previous -25K)
Private Payroll (previous +235K)
Participation Rate (previous 61.8%)
Non-Farm Payrolls Bench Net Chg
3:00 PM ET. November Consumer Credit
Consumer Credit Net Chg (USD) (expected +25.0B; previous +16.9B)
Monday, January 10, 2022
10:00 AM ET. December Employment Trends Index
ETI (previous 114.49)
ETI, Y/Y%
10:00 AM ET. November Monthly Wholesale Trade
Inventories, M/M% (previous +2.3%)
Tuesday, January 11, 2022
6:00 AM ET. December NFIB Index of Small Business Optimism
Small Business Idx (previous 98.4)
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%
10:00 AM ET. January IBD/TIPP Economic Optimism Index
Economic Optimism Idx (previous 48.4)
6-Mo Economic Outlook (previous 42.8)
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 STOCK INDEXES: The March NASDAQ 100 was higher overnight. Overnight trading sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If March renews the rally off December's low, the November high crossing at 16,768.00 is the next upside target. Closes below the 50-day moving average crossing at 16,144.36 would temper the near-term friendly outlook. From a broad perspective, March needs to close above November's high crossing at 16,768.00 or below December's low crossing at 15,492.00 to confirm a breakout of the November-December trading range and point the direction of the next trending move. First resistance is last-Tuesday's high crossing at 16,659.50. Second resistance is November's high crossing at 16,768.00. First support is the 50-day moving average crossing at 16,144.36. Second support is December's low crossing at 15,492.00.
The March S&P 500 was higher overnight and is renewing the rally off December's low into uncharted territory. Overnight trading sets the stage for a steady to higher 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 March extends the aforementioned rally into uncharted territory, upside targets will be hard to project. Closes below the 50-day moving average crossing at 4657.04 would signal that a short-term top has been posted. First resistance is the overnight high crossing at 4807.50. Second resistance is unknown.First support is the 50-day moving average crossing at 4657.04. Second support is December's low crossing at 4520.25.
INTEREST RATES http://quotes.ino.com/ex changes/?c=interest"
INTEREST RATES: March T-bonds was lower overnight as it extends Monday's sharp decline. Overnight trading sets the stage for a steady to lower opening when the day 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 March extends the decline off December's high, the November 24th low crossing at 157-12 is the next downside target. Closes above the 20-day moving average crossing at 160-28 would temper the near-term bearish outlook. First resistance is the 10-day moving average crossing at 159-29. Second resistance is the 20-day moving average crossing at 160-28. First support is the November 24th low crossing at 157-12. Second support is October's low crossing at 155-26.
March T-notes was lower overnight as it extends the decline off December's high. Overnight trading sets the stage for a steady to lower opening with the day 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 March extends Monday's sharp decline, November's low crossing at 128.225 is the next downside target. Closes above the 20-day moving average crossing at 130.154 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 130.154. Second resistance is the 50% retracement level of the August-November decline crossing at 131.171. First support is the overnight low crossing at 129.115. Second support is November's low crossing at 128.225.
ENERGY MARKETS? http://quotes.ino.com/ex?changes/?c=energy ""
ENERGIES:February crude oil was steady to slightly higher overnight. Overnight trading sets the stage for 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 February extends the rally off December's low, the November 24th high crossing at $78.59 is the next upside target. Closes below the 20-day moving average crossing at $73.01 would signal that a short-term top has been posted. First resistance is last-Wednesday's high crossing at $77.37. Second resistance is the November 24th high crossing at $78.59. First support is the 10-day moving average crossing at $75.03. Second support is the 20-day moving average crossing at $73.01.
February heating oil was higher overnight and 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 February extends the rally off December's low, the 75% retracement level of the October-November decline crossing at $2.4203 is the next upside target. Closes below the 20-day moving average crossing at $2.2832 would confirm that a short-term top has been posted. First resistance is last-Wednesday's high crossing at $2.3946. Second resistance is the 75% retracement level of the October-November decline crossing at $2.4203. First support is the 50-day moving average crossing at $2.3164. Second support is the 20-day moving average crossing at $2.2832.
February unleaded gas was higher overnight. The high-range trade overnight 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 February extends the rally off December's low, the November 10th high crossing at 2.3281 is the next upside target. Closes below the 20-day moving average crossing at 2.1717 would signal that a short-term top has been posted. First resistance is the November 10th high crossing at 2.3281. Second resistance is November's high crossing at 2.3441. First support is the 50-day moving average crossing at 2.1882. Second support is the 20-day moving average crossing at 2.1717.
February Henry natural gas was slightly higher overnight as it extends the December-January trading range. Overnight trading sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the December 6th gap crossing at 4.010 would signal that a short-term low has been posted. If February renews the decline off October's high, the 87% retracement level of the 2020-2021-rally crossing at 3.050 is the next downside target. First resistance is the December 6th gap crossing at 4.010. Second resistance is the 50-day moving average crossing at 4.551. First support is the 75% retracement level of the 2020-2021-rally crossing at 3.535. Second support is the 87% retracement level of the 2020-2021-rally crossing at 3.050.
CURRENCIEShttp://quotes.ino.com/ex changes/?c=currencies"
CURRENCIES:The March Dollar was slightly higher overnight as it extends the November-January trading range. Overnight trading sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off last-Friday's low, December's high crossing at $96.89 is the next upside target. Closes below the November 30th low crossing at $95.50 would mark a downside breakout of the aforementioned trading range while opening the door for a possible test of the 25% retracement level of the May-December-2021 rally crossing at $95.07. First resistance is the December 15th high crossing at $96.89. Second resistance is the June-2020 high on the weekly continuation chart crossing at $97.81. First support is the November 30th low crossing at $95.50. Second support is the 25% retracement level of the May-December-2021 rally crossing at $95.07.
The March Euro was lower overnight as it extends the trading range of the November-January trading range. 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 turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes above the November 30th high crossing at $114.17 would mark an upside breakout of the aforementioned trading range while opening the door for additional gains near-term. If March renews the decline off September's high, the 87% retracement level of the 2020-2021-rally crossing at $110.60 is the next downside target. First resistance is the November 30th high crossing at $114.17. Second resistance is the 25% retracement level of 2020's decline crossing at $115.23. First support is November's low crossing at $112.21. Second support is the 87% retracement level of the 2020-2021-rally crossing at $110.60.
The March British Pound was steady to slightly higher overnight as it consolidates above by the 50-day moving average crossing at 1.3424.Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off December's low, the November 9th high crossing at 1.3609 is the next upside target. Closes below the 20-day moving average crossing at 1.3340 would signal that a short-term top has been posted.First resistance last-Thursday's highcrossing at 1.3547. Second resistance is the November 9th high crossing at 1.3609. First support is the 20-day moving average crossing at 1.3340. Second support is the December 8th low crossing at 1.3166.
The March Swiss Franc was steady to slightly lower overnight. The low-range overnight trade sets the stage for a steady to slightly lower opening when the day session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices possible near-term. Closes below the 20-day moving average crossing at 1.0896 would signal that a short-term top has been posted. If March extends the rally off November's low, November's high crossing at 1.1042 is the next upside target. First resistance is last-Thursday's high crossing at 1.1005. Second resistance is November's high crossing at 1.1042. First support is the 20-day moving average crossing at 1.0896. Second support is the December 15th low crossing at 1.0791.
The March Canadian Dollar was steady to slightly lower overnight and sets the stage for a steady to lower opening when the day 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 10-day moving average crossing at $81.18 would signal that a short-term top has been posted. Multiple closes above the 50-day moving average crossing at $79.04 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at $79.04. Second resistance is the November 15th high crossing at $79.99. First support is the 10-day moving average crossing at $81.18. Second support is December's low crossing at $77.13.
The March Japanese Yen was sharply lower overnight and has renewed the decline off November's high to post a new contract low. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off November's high, monthly support crossing at 0.084932 is the next downside target. Closes above the 50-day moving average crossing at 0.087831 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 0.087090. Second resistance is the 20-day moving average crossing at 0.087586. First support is the overnight low crossing at 0.086105. Second support is monthly support crossing at 0.084932.
PRECIOUS METALS http://quotes.ino.com/ex changes/?c=metals"
PRECIOUS METALS: Februarygold was slightly higher overnight as it consolidates some of Monday's sharp decline. Overnight trading sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are overbought and are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $1796.40 would signal that a short-term top has been posted. If February renews the decline off November's high, September's low crossing at $1723.70 is the next downside target. If February extends the rally off the December 15th low, September's high crossing at $1838.70 is the next upside target. First resistance is Monday's high crossing at $1833.00. Second resistance is September's high crossing at $1838.70. First support is the 20-day moving average crossing at $1796.40. Second support is December's low crossing at $1753.00.
March silver was steady to slightly lower overnight as it consolidates some of the rally off December's low. The low-range 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 and are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $22.576 would signal that a short-term top has been posted. Closes above the 50-day moving average crossing at $23.422 would open the door for additional gains near-term. First resistance is the 50-day moving average crossing at $23.422. Second resistance is November's high crossing at $25.540. First support is the 20-day moving average crossing at $22.576. Second support is December's low crossing at $21.410.
March copper was steady to 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off December's low, November's high crossing at 4.5115 is the next upside target. Closes below the 20-day moving average crossing at 4.3540 would signal that a short-term top has been posted. First resistance is November's high crossing at 4.5115. Second resistance is the October 25th high crossing at 4.5335. First support is the 20-day moving average crossing at 4.3540. Second support is December's low crossing at 4.1195.
GRAINS http://quotes.ino.com/ex changes/?c=grains
March corn was higher overnight as it consolidates some of the decline off last-Tuesday's high. The high-range trade overnight sets the stage for a steady to higher opening when the day sessions 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 $5.83 would open the door for a larger-degree decline during the first half of January. If March renews the rally off September's low, the June high crossing at $6.33 is the next upside target. First resistance is last-Tuesday's high crossing at $6.17 3/4. Second resistance is June's high crossing at $6.33. First support is the 50-day moving average crossing at $5.83. Second support is the November 30th low crossing at $5.62 1/2.
March wheat was steady to higher overnight as it consolidates some of its losses off December's high. Overnight trading sets the stage for a steady to higher opening when the day 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 March extends the aforementioned decline, the 62% retracement level of the July-November rally crossing at $7.21 is the next downside target. Closes above the 50-day moving average crossing at $7.99 1/2 would signal that a short-term low has been posted. First resistance is December's high crossing at $8.24. Second resistance is November's high crossing at $8.74 3/4. First support is the 50% retracement level of the July-November rally crossing at $7.50 1/2. Second support is the 62% retracement level of the July-November rally crossing at $7.21.
March Kansas City wheat was higher overnight as it consolidates some of the decline off December's high. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off last-Monday's high, the 38% retracement level of the July-November-rally crossing at $7.81 1/4 is the next downside target. Closes above the 10-day moving average crossing at $8.25 1/4 would signal that a short-term low has been posted. First resistance is December's high crossing at $8.71. Second resistance is November's high crossing at $8.92 1/4. First support is the 38% retracement level of the July-November rally crossing at $7.81 1/4. Second support is the 50% retracement level of the July-November rally crossing at $7.46 3/4.
March Minneapolis wheat was steady to slightly higher overnight as it consolidates some of the decline off November's high. Overnight trading sets the stage for a steady to higher opening when the day 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 March extends the decline off November's high, the 25% retracement level of the 2020-2021 rally crossing at $9.43 1/2 is the next downside target. Closes above the 50-day moving average crossing at $10.20 3/4 would temper the near-term bearish outlook. First resistance is last-Monday's high crossing at $10.36 3/4. Second resistance is November's high crossing at $10.66 1/4. First support is Monday's low crossing at $9.64 3/4. Second support is the 25% retracement level of the 2020-2021 rally crossing at $9.43 1/2.
SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains "
March soybeans was higher overnight as it extends Monday's rally. 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 turning neutral to bullish signaling that sideways to higher prices are possible near-term. If March renews the rally off the late-November low, the 87% retracement level of the June-November decline crossing at $14.13 1/4 is the next upside target. Closes below the 20-day moving average crossing at $13.10 1/4 would signal that a short-term top has been posted. First resistance is the 75% retracement level of the June-November decline crossing at $13.83. Second resistance is the 87% retracement level of the June-November decline crossing at $14.13 1/4. First support is the 20-day moving average crossing at $13.10 1/4. Second support is the 50-day moving average crossing at $12.77.
March soybean meal was lower overnight as it consolidates some of Monday's rally. Overnight trading 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. Closes below last-Friday's low crossing at $398.20 would signal that a short-term top has been posted. If March extends the rally off October's low, the 75% retracement level of the January-October decline on the weekly continuation chart crossing at $431.20 is the next upside target. First resistance is last-Tuesday's high crossing at $415.10. Second resistance is the 75% retracement level of the January-October decline on the weekly continuation chart crossing at $431.20. First support is last-Friday's low crossing at $398.20. Second support is the 20-day moving average crossing at $385.00.
March soybean oil was higher overnight as it extends last-week's trading range. Overnight trading sets the stage for a higher opening when 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. Closes above the 50-day moving average crossing at 57.36 would open the door for a possible test of the December 7th high crossing at 58.66. Closes below the 20-day moving average crossing at 55.15 would temper the near-term friendly outlook. First resistance is the 50-day moving average crossing at 57.36. Second resistance is the December 7th high crossing at 58.66. First support is the 20-day moving average crossing at 55.15. Second support is December's low crossing at 51.55.
LIVESTOCKhttp://quotes.ino.com/exchanges/?c=livestock
February hogs closed down $0.48 at $81.00.
February hogs closed lower on Monday as it consolidated some of the rally off December's low. The low-range close sets the stage for a steady to lower opening when Tuesday's 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 $80.29 would signal that a short-term top has been posted. If February renews the rally off December's low, October's high crossing at $87.48 is the next upside target. First resistance is November's high crossing at $84.68. Second resistance is October's high crossing at $87.48. First support is the 20-day moving average crossing at $80.74. Second support is the 50-day moving average crossing at $80.29.
February cattle closed down $0.83 at $138.88.
February cattle closed lower on Monday. The low-range close sets the stage for a steady to lower opening on Tuesday. 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 $137.61 would signal that a short-term top has been posted. If February extends the rally off December's low, November's high crossing at $141.85 is the next upside target. First resistance is last-Wednesday's high crossing at $141.43. Second resistance is November's high crossing at $141.85. First support is the 50-day moving average crossing at $137.61. Second support is the 50% retracement level of the September-November rally crossing at $135.74.
March Feeder cattle closed down $0.60 at $169.35.
March feeder cattle closed lower on Monday as it consolidated some of the rally off December's low. The low-range close sets the stage for a steady to lower opening when Tuesday'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 March extends the rally off December's low, August's high crossing at $171.58 is the next upside target. Closes below the 50-day moving average crossing at $163.38 would signal that a short-term top has been posted. First resistance is last-Friday's high crossing at $170.83. Second resistance is August's high crossing at $171.58. First support is the 20-day moving average crossing at $165.40. Second support is the 50-day moving average crossing at $163.38.
FOOD & FIBERhttp://quotes.ino.com/ex changes/?c=food
March coffee closed lower on Monday and below the 50-day moving average crossing at 225.88 opening the door for a larger-degree decline into early-January. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off December's high, November's low crossing at 201.45 is the next downside target. Closes above the 20-day moving average crossing at 233.49 would signal that a short-term low has been posted.
March cocoa closed lower on Monday. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes above the December 16th high crossing at 25.67 would signal that a short-term low has been posted. If March extends today's decline, the December 20th low crossing at 24.17 is the next downside target.
March sugar closed lower on Monday. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March renews the decline off December's high, August's low crossing at 18.31 is the next downside target. Closes above the 50-day moving average crossing at 19.44 would confirm that a low has been posted.
March cotton closed higher on Monday. The low-range close sets the stage for a steady to slightly higher opening on Tuesday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the aforementioned rally, November's high crossing at 118.50 is the next upside target. Closes below the 20-day moving average crossing at 108.73 would signal that a short-term top has been posted.
Thanks a ton tallpine!