KEY EVENTS TO WATCH FOR:
Wednesday, February 8, 2023
7:00 AM ET. MBA Weekly Mortgage Applications Survey
Composite Idx (previous 232.4)
Composite Idx, W/W% (previous -9.0%)
Purchase Idx-SA (previous 184.3)
Purchase Idx-SA, W/W% (previous -10.3%)
Refinance Idx (previous 466.6)
Refinance Idx, W/W% (previous -7.1%)
10:00 AM ET. December Monthly Wholesale Trade
Inventories, M/M% (expected +0.1%; previous +1%)
10:30 AM ET. EIA Weekly Petroleum Status Report
Crude Oil Stocks (Bbl) (previous 452.688M)
Crude Oil Stocks, Net Chg (Bbl) (previous +4.14M)
Gasoline Stocks (Bbl) (previous 234.598M)
Gasoline Stocks, Net Chg (Bbl) (previous +2.576M)
Distillate Stocks (Bbl) (previous 117.59M)
Distillate Stocks, Net Chg (Bbl) (previous +2.32M)
Refinery Usage (previous 85.7%)
Total Prod Supplied (Bbl/day) (previous 20.106M)
Total Prod Supplied, Net Chg (Bbl/day) (previous +0.659M)
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)
Thursday, February 9, 2023
8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims
Jobless Claims (expected 190K; previous 183K)
Jobless Claims, Net Chg (previous -3K)
Continuing Claims (previous 1655000)
Continuing Claims, Net Chg (previous -11K)
8:30 AM ET. U.S. Weekly Export Sales
10:30 AM ET. EIA Weekly Natural Gas Storage Report
Working Gas In Storage (Cbf) (previous 2583B)
Working Gas In Storage, Net Chg (Cbf) (previous -151B)
2:00 PM ET. SEC Closed Meeting
4:30 PM ET. Foreign Central Bank Holdings
4:30 PM ET. Federal Discount Window Borrowings
Friday, February 10, 2023
10:00 AM ET. February University of Michigan Survey of Consumers - preliminary
Mid-Mo Sentiment (expected 65.1; previous 64.6)
Mid-Mo Expectations (previous 62.0)
Mid-Mo Current Idx (previous 68.6)
The STOCK INDEXES? http://quotes.ino.com/ex?changes/?c=indexes
The Dow closed higher on Tuesday as it extends the trading range of the past two-weeks. The high-range close sets the stage for a steady to higher opening when Wednesday's day session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 33,655.86 would signal that a short-term top has been posted. If the Dow renews the rally off the January 20th low, January's high crossing at 34,342.32 is the next upside target. First resistance is January's high crossing at 34,342.32. Second resistance is the December 13th high crossing at 34,712.28. First support is the January 5th low crossing at 32,812.33. Second support is the December 22nd low crossing at 32,573.43.
The March NASDAQ 100 closed higher on Tuesday ending a two-day correction off last-Thursday's high. The high-range close sets the stage for a steady to higher opening when Wednesday's day session begins trading. Stochastics and the RSI are overbought, diverging but remain neutral to bullish signaling sideways to higher prices are possible. If March extends the rally off January's low, the 75% retracement level of the August-October decline crossing at 13,058.13 is the next upside target. Closes below the 20-day moving average crossing at 11,961.70 would signal that a short-term top has been posted. First resistance is last-Thursday's high crossing at 12,934.50. Second resistance is the 75% retracement level of the August-October decline crossing at 13,058.13. First support is the 10-day moving average crossing at 12,335.60. Second support is the 20-day moving average crossing at 11,961.85.
The March S&P 500 closed higher on Tuesday ending a two-day correction off last-Thursday's high. The high-range close sets the stage for a steady to higher opening when Wednesday's day session begins trading. Stochastics and the RSI are overbought, diverging 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 87% retracement level of the August-October decline crossing at 4255.15 is the next upside target. Closes below the 20-day moving average crossing at 4047.24 would signal that a short-term top has been posted. First resistance is last-Thursday's high crossing at 4208.50. Second resistance is the 87% retracement level of the August-October decline crossing at 4255.15. First support is the 10-day moving average crossing at 4106.65. Second support is the 20-day moving average crossing at 4047.24.
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March T-bonds closed down 24-pts. at 128-09.
March T-bonds closed lower on Tuesday and below the November-December uptrend line crossing at 128-25 as it extended the decline off last-Thursday's high. The low-range close sets the stage for a steady to lower opening when Wednesday's day session begins trading. Stochastics and the RSI are becoming oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March resumes the rally off December's low, the 62% retracement level of the August-October decline crossing at 133-30 is the next upside target. First resistance is the January 19th high crossing at 132-31. Second resistance is the 62% retracement level of the August-October-2022 decline crossing at 133-30. First support is the November-December uptrend line crossing at 128-25. Second support is December's low crossing at 124-11.
March T-notes closed down 85-pts. at 113.080.
March T-notes closed lower on Tuesday as it extended the rally off last-Thursday's low. The low-range close sets the stage for a steady to lower opening when Wednesday's 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, December's low crossing at 111.280 is the next downside target. Closes above the 20-day moving average crossing at 114.241 would signal that a short-term low has been posted. If December renews the rally off October's low, the 62% retracement level of the August-October-2022 decline crossing at 116.235 is the next upside target. First resistance is January's high crossing at 116.080. Second resistance is the 62% retracement level of the August-October-2022 decline crossing at 116.235. First support is the November-December uptrend line crossing near 113.120. Second support is the December 30th low crossing at 111.280.
ENERGY MARKETS? http://quotes.ino.com/ex?changes/?c=energy ""
March crude oil closed sharply higher on Tuesday as it consolidated some of the decline off January's high. The high-range close sets the stage for a steady to higher opening when Wednesday's day session begins. Stochastics and the RSI are oversold but are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at $78.53 would signal that a short-term low has been posted. If March extends the rally off January's high, December's low crossing at $70.56 is the next downside target.First resistance is the 20-day moving average crossing at $78.53. Second resistance is January's high crossing at $82.66. First support is Monday's low crossing at $72.25. Second support is December's low crossing at $70.56.
March heating oil closed sharply higher on Tuesday as it consolidated some of the decline off January's high. The high-range close sets the stage for a steady to higher opening when Wednesday's day trading session begins. 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 January's high, the 50% retracement level of the 2020-2022 rally crossing at $2.5401 is the next downside target. Closes above the 20-day moving average crossing at $3.1195 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at $3.0483. Second resistance is the 20-day moving average crossing at $3.1195. First support is Monday's low crossing at $2.6653. Second support is the 50% retracement level of the 2020-2022 rally crossing at $2.5401.
March unleaded gas closed higher due to short covering on Tuesday as it consolidated some of the decline off January's high. The high-range close sets the stage for a steady to higher opening when Wednesday's day session begins trading. Stochastics and the RSI are oversold but are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 2.5213 would signal that a short-term low has been posted. If March renews the decline off January's high, January's low crossing at 2.2439 is the next downside target. First resistance is the 20-day moving average crossing at 2.5213. Second resistance is January's high crossing at $2.7186. First support is January's low crossing at $2.2439. Second support is December's low crossing at $2.0488.
March Henry natural gas closed higher on Tuesday as it consolidated some of the decline off November's high. The high-range close sets the stage for a steady to higher opening when Wednesday's 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 December-2020 low on the monthly continuation chart crossing at 2.238 is the next downside target. Closes above the 20-day moving average crossing at 2.917 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 2.917. Second resistance is the January 24th high crossing at 3.300. First support is last-Friday's low crossing at 2.341. Second support is the December-2020 low on the monthly continuation chart crossing at 2.238.
CURRENCIES? http://quotes.ino.com/ex?changes/?c=currencies ""
The March Dollar closed slightly lower on Tuesday as it consolidated some of the rally off last-Thursday's low. The mid-range close sets the stage for a steady to lower 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. Multiple closes above the 50-day moving average crossing at $103.389 would signal that a short-term low has been posted. If March renews the decline off September's high, the 87% retracement level of the January-September rally crossing at $99.229 is the next downside target. First resistance is the 50-day moving average crossing at $103.389. Second resistance is January's high crossing at $105.500. First support is last-Thursday's low crossing at $100.680. Second support is the 87% retracement level of the January-September rally crossing at $99.229.
The March Euro closed lower for the fourth-day in a row on Tuesday as it extended the decline off last-Thursday's high. The mid-range close sets the stage for a steady to lower opening when Wednesday's 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. Closes below the 50-day moving average crossing at 1.072761 would open the door for a larger-degree decline near-term. If March renews the rally off September's low, the 38% retracement level of the 2018-2022 decline crossing at $1.14137 is the next upside target. First resistance is last-Thursday's high crossing at $1.10590. Second resistance is the 38% retracement level of the 2018-2022 decline crossing at $1.14137. First support is the 50-day moving average crossing at 1.072761. Second support is January's low crossing at $1.05290.
The March British Pound closed slightly higher on Tuesday as it consolidated some of the decline off January's high. The mid-range close sets the stage for a steady to lower opening when Wednesday's day session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling sideways to lower prices are possible near-term. If March extends January's decline, January's low crossing at 1.1861 is the next downside target. Closes above the 20-day moving average crossing at 1.2285 would signal that a short-term low has been posted. If March resumes the rally off January's low, the 62% retracement level of the 2021-2022 decline crossing at 1.2764 is the next upside target. First resistance is December's high crossing at 1.2479. Second resistance is the 62% retracement level of the 2021-2022 decline crossing at 1.2764. First support is today's low crossing at 1.2034. Second support is January's low crossing at 1.1861.
The March Swiss Franc closed higher on Tuesday as it consolidated some of the decline off last-Thursday's high. The high-range close sets the stage for a steady to higher opening when Wednesday's day session begins trading. Stochastics and the RSI are becoming oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the aforementioned decline, January's low crossing at 1.06915 is the next downside target. If March resumes the rally off September's low, the 75% retracement level of the 2018-2022 decline crossing at 1.10351 is the next upside target. First resistance is last-Thursday's high crossing at 1.10815. Second resistance is the 75% retracement level of the 2018-2022 decline crossing at 1.10351. First support is today's low crossing at 1.08020. Second support is the January 6th low crossing at 1.06915.
The March Canadian Dollar closed higher on Tuesday as it consolidated some of the decline off last-Thursday's high. The high-range close sets the stage for a steady to higher opening when Wednesday's day session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 74.19 would confirm that a short-term top has been posted. If March renews the rally off January's low, November's high crossing at 75.71 is the next upside target. First resistance is last-Thursday's high crossing at 75.42. Second resistance is November's high crossing at 75.71. First support is the 50-day moving average crossing at 74.19. Second support is the January 19th low crossing at 73.99.
The March Japanese Yen closed higher on Tuesday as it consolidated some of the decline off last-Thursday's high and filled Monday's gap crossing at 0.076570. The high-range close sets the stage for a steady to higher opening when Wednesday’s 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. Closes below the 50-day moving average crossing at 0.075962 would open the door for a possible test of January's low crossing at 0.074830. If March renews the rally off October's low, the May 24th -2021 high crossing at 0.080525 is the next upside target. First resistance is the January 17th high crossing at 0.079190. Second resistance is the May 24th -2021 high crossing at 0.080525. First support is January's low crossing at 0.074830. Second support is the December 15th low crossing at 0.073210.
PRECIOUS METALS? http://quotes.ino.com/ex?changes/?c=metals ""
April gold closed slightly higher on Tuesday as it consolidated some of the decline off last-Thursday's high. The low-range close sets the stage for a steady to lower opening when Wednesday's 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 April extends the decline off last-Thursday's high, the 50-day moving average crossing at 1865.80 is the next downside target. Closes above the 20-day moving average crossing at 1926.20 would signal that a short-term low has been posted. If April resumes the rally off November's low, the 75% retracement level of the March-October decline crossing at $1978.50 is the next upside target. First resistance is last-Thursday's high crossing at $1975.20. Second resistance is the 75% retracement level of the March-October decline crossing at $1978.50. First support is the 50-day moving average crossing at $1865.80. Second support is the January low crossing at $1846.10.
March silver closed lower on Tuesday as it extends the decline off last-Thursday's high. The low-range close sets the stage for a steady to lower opening when Wednesday's 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 last-week's decline, the 50% retracement level of the September-February rally crossing at 21.177 is the next downside target. Closes above the 20-day moving average crossing at 23.575 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 23.575. Second resistance is last-Thursday's high crossing at 24.750. First support is the 38% retracement level of the September-February rally crossing at 22.028. Second support is the 50% retracement level of the September-February rally crossing at 21.177.
March copper closed higher on Tuesday as it consolidated some of the decline off January's high. The high-range close sets the stage for a steady to higher opening when Wednesday's 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 50-day moving average crossing at 3.9547 is the next downside target. If March resumes the rally off September's low, the 75% retracement level of the March-July decline crossing at 4.4773 is the next upside target. First resistance is the 20-day moving average crossing at 4.1811. Second resistance is the January 18th high crossing at 4.3550. First support is the 50-day moving average crossing at 3.9547. Second support is January's low crossing at 3.7085.
GRAINS? http://quotes.ino.com/ex?changes/?c=grains "
March Corn closed down $0.05-cents at $6.74.
March corn 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 bearish signaling that sideways to higher prices are possible near-term. Closes below the 50-day moving average crossing at $6.65 would confirm that a short-term top has been posted. If March renews the rally off January's low, the 75% retracement level of the October-December decline crossing at $6.92 1/2 is the next upside target. First resistance is the January 18th high crossing at $6.88 3/4. Second resistance is the 75% retracement level of the October-December decline crossing at $6.92 1/2. First support is last-Friday's low crossing at $6.71 1/2. Second support is the 50-day moving average crossing at $6.65.
March wheat closed down a $0.00 1/2-cent at $7.47 3/4.
March wheat closed fractionally lower on Tuesday as it consolidated some of the rally off January's low. The mid-range close sets the stage for a steady to lower opening when Wednesday's day 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 $7.45 3/4 would temper the near-term bullish outlook. Closes above last-Friday's high crossing at $7.76 1/2 would confirm that a short-term low has been posted while opening the door for a possible test of the December 30th high crossing at $7.99. First resistance is last-Friday's high crossing at $7.76 1/2. Second resistance is the December 30th high crossing at $7.99. First support is January's low crossing at $7.12 1/2. Second support is the September 6th 2021 low crossing at $6.93 1/2.
March Kansas City Wheat closed up $0.09 3/4-cents at $8.85 3/4.
March Kansas City wheat closed higher on Monday. The high-range close sets the stage for a steady to higher opening when Wednesday's 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 January's low, the December 27th high crossing at $8.94 3/4 is the next upside target. Closes below the 20-day moving average crossing at $8.53 1/2 would signal that a short-term top has been posted. First resistance is last-Thursday's high crossing at $8.92 3/4. Second resistance is the December 27 high crossing at $8.94 3/4. First support 20-day moving average crossing at $8.53 1/2. Second support is the January 23rd low crossing at $8.11. Third support is the January 10th low crossing at $8.03 1/4.
March Minneapolis wheat closed down a $0.00 1/4-cent crossing at $9.17 1/4.
March Minneapolis wheat closed fractionally lower on Tuesday. The low-range close sets the stage for a steady to lower opening when Wednesday's 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 20-day moving average crossing at $9.12 would signal that a short-term top has been posted. If March extends the rally off January's low, the 38% retracement level of the October-January decline crossing at $9.40 1/2 is the next upside target. First resistance is last-Thursday's high crossing at $9.32. Second resistance is the 38% retracement level of the October-January decline crossing at $9.40 1/2. First support is the 20-day moving average crossing at $9.12. Second support is January's low crossing at $8.85.
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March soybeans closed down $0.06-cents at $15.15 1/4.
March soybeans closed lower on Tuesday. The low-range close sets the stage for a steady to lower opening when Wednesday's day trade begins. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Multiple closes below the 20-day moving average crossing at $15.16 would signal that a short-term top has been posted. If March renews this year's rally. last-June's high crossing at $15.72 1/4 is the next upside target.First resistance is the January 18th high crossing at $15.48 1/2. Second resistance is last-June's high crossing at $15.72 1/4. First support is the 20-day moving average crossing at $15.16. Second support is the 50-day moving average crossing at $14.93 1/4.
March soybean meal closed down $7.60 at $481.40.
March soybean meal closed lower on Tuesday as it consolidated some of the rally off January's low. The low-range close sets the stage for a steady to lower opening when Wednesday's 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 $477.50 would signal that a short-term top has been posted. If March extends the rally off January's low, monthly resistance on the continuation chart crossing at $513.90 is the next upside target. First resistance is last-Friday's high crossing at $500.40. Second resistance is monthly resistance the monthly continuation chart crossing at $513.90. First support is the 20-day moving average crossing at $477.50. Second support is the 50-day moving average crossing at $459.70.
March soybean oil closed up 158-pts. At 60.89.
March soybean oil closed higher on Tuesday as it consolidated some of the decline off December's high. The high-range close sets the stage for a steady to higher opening when Wednesday's 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 the December 27th high, the 87% retracement of the July-November-2022 crossing at 56.49 is the next downside target. Closes above the 20-day moving a crossing at 61.69 would signal that a short-term low has been posted. First resistance is the 20-day moving average crossing at 61.69. Second resistance is the 50-day moving average crossing at 63.24. First support is Monday's low crossing at 58.43. Second support is the 87% retracement of the July-November-2022 crossing at 56.49.
LIVESTOCKhttp://quotes.ino.com/exchanges/?c=livestock
April hogs closed up $0.38 at $83.10.
April hogs closed higher on Tuesday as it consolidated some of the decline off December's high. The high-range close sets the stage for a steady to higher opening when Wednesday's day session begins trading. Stochastics and the RSI are neutral to bearish with that sideways to lower prices are possible near-term. If April extends the decline off December's high, the 75% retracement level of the 2021-2022 rally crossing at $81.15 is the next downside target. Closes above the July 27th high crossing at $88.33 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at $86.10. Second resistance is the January 27th high crossing at $88.33. First support is today's low crossing at $81.28. Second support is the 75% retracement level of the 2021-2022 rally crossing at $81.15.
April cattle closed down $0.93 at $163.55.
April cattle closed lower on Tuesday as it consolidates some of the rally off last-September'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 April extends the rally off January's low, the November-2014 on the monthly continuation chart crossing at $171.65 is the next upside target. Closes below the 20-day moving average crossing at $161.68 would signal that a short-term top has been posted. First resistance is today's high crossing at $164.60. Second resistance is the November-2014 on the monthly continuation chart crossing at $171.65. First support is the 10-day moving average crossing at $162.75. Second support is the 20-day moving average crossing at $161.68.
March Feeder cattle closed down $0.60 at $187.10.
March Feeder cattle closed lower on Tuesday as it consolidated some of the rally off January's low. The low-range close sets the stage for a steady to lower opening when Wednesday's 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 January's low, January's high crossing at $188.75 is the next upside target. Closes below the 20-day moving average crossing at $184.02 would signal that a short-term top has been posted. First resistance is today's high crossing at $188.58. Second resistance is January's high crossing at $188.75. First support is the 20-day moving average crossing at $184.02. Second support is February's low crossing at $182.70.
FOOD & FIBERhttp://quotes.ino.com/ex changes/?c=food
March coffee closed higher on Tuesday. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI have turned neutral to bearish signaling sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $16.30 would signal that a short-term top has been posted. If March extends the rally off January's low, the 50% retracement level of the August-January decline crossing at $18.91 is the next upside target. First resistance is last-Wednesday's high crossing at $18.42. Second resistance is the 50% retracement level of the August-January decline crossing at $18.91. First support is the 10-day moving average crossing at $17.31. Second support is the 50-day moving average crossing at $16.45.
March cocoa closed slightly higher on Tuesday. The high-range close sets the stage for a steady to slightly higher opening on Wednesday. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 26.03 would signal that a short-term low has been posted. Closes below the 50-day moving average crossing at 25.68 would signal that a short-term top has been posted while opening the door for a possible test of January's low crossing at 25.07.
March sugar closed higher on Tuesday as it consolidated some of the decline off February's high. The high-range close sets the stage for a steady to higher 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 20.40 would signal that a short-term top has been posted. If March renews the rally off January's low, monthly resistance crossing at 22.64 is the next upside target.
March cotton closed sharply higher on Tuesday as it extends the November-February trading range. Multiple closes below the 50-day moving average crossing at 83.89 would open the door for additional weakness near-term. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes above the November 16th high crossing at 89.92 would mark an upside breakout of the November-February trading range while opening the door for a possible test of the 50% retracement level of the August-October decline crossing at 93.37. If March extends Monday's decline, January's low crossing at 80.37 is the next downside target.
Thank you tallpine!