Sector Analysis and Key Events for Monday

INO.com  INO Morning Markets Report

[FREE] 5 Stocks for Building Wealth After 50

The Motley Fool Co-Founders David and Tom Gardner just released a brand-new report detailing 5 of their team's favorite stocks to buy right now. It's never too late to build your fortune in the stock market. You can grab YOUR FREE copy for a limited time only.
Summary
The Dow Future has advanced 127 points to 26134. The US Dollar Index climbed 0.321 points to 96.884. Gold is dropping 2.35 dollars to 1328.24. Silver is dropping 0.082 dollars to 14.739. The Dow Industrials moved higher by 263.28 points, at 25983.94, while the S&P 500 trended higher 29.85 points, last seen at 2873.34. The Nasdaq Composite moved up 126.55 points to 7742.10. Streaming charts of these markets are available at MarketClub

Blog Postings and Videos
Weekly Futures Recap With Mike Seery
Sunday Jun 9th

DOW Surges On Rate-Cut Hopes
Friday Jun 7th

Telling Charting Pattern For Oversold Cannabis Stock
Thursday Jun 6th

Key Events for Monday

Check out INO's Market Forum for price charts with commentary

10:00 AM ET. May Employment Trends Index

ETI (previous 110.79)

ETI, Y/Y% (previous +4.9%)

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



 
Currencies Snapshot
Symbol Last Change %
US DOLLAR INDEX 96.884 +0.321 +0.33%
Invesco DB US Dollar Index 26.035 -0.115 -0.44%
US Dollar/Canadian Dollar 1.326970 -0.000225 -0.02%
Euro/US Dollar 1.130835 -0.000515 -0.05%
JAPANESE YEN Jun 2019 0.009208 -0.000042 -0.46%
SWISS FRANC Jun 2019 1.0099 -0.0042 -0.42%
US Dollar/Hong Kong Dollar 7.84285 -0.00010 -0.00%

CURRENCIES

The June Dollar closed sharply lower on Friday following a disappointing monthly jobs report. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends this week's decline, the 38% retracement level of the 2018-2019 rally crossing at 96.04 is the next downside target. Closes above the 20-day moving average crossing at 97.53 would confirm that a short-term low has been posted. First resistance is May's high crossing at 98.26. Second resistance is weekly resistance crossing at 99.90. First support is the 38% retracement level of the 2018-2019 rally crossing at 96.04. Second support is March's low crossing at 95.17.

The June Euro closed higher on Friday as it extends the rally off May's low. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off May's low, April's high crossing at 113.86 is the next upside target. If June resumes the decline off March's high, the January 2017 low crossing at 110.16 is the next downside target. First resistance is today's high crossing at 113.55. Second resistance is April's high crossing at 113.86. First support is May's low crossing at 111.26. Second support is the January-2017 low crossing at 110.16.

The June British Pound closed slightly higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 1.2748 are needed to confirm that a short-term low has been posted. If June renews the decline off May's high, the October-2016 low crossing at 1.2412 is the next downside target. First resistance is the 20-day moving average crossing at 1.2748. Second resistance is the 50-day moving average crossing at 1.2945. First support is last-Friday's low crossing at 1.2568. Second support is the October-2016 low crossing at 1.2412.

The June Swiss Franc closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off April's low, March's high crossing at 1.0191 is the next upside target. Closes below the 20-day moving average crossing at 0.9984 would confirm that a short-term top has been posted. First resistance is Wednesday's high crossing at 1.0159. Second resistance is March's high crossing at 1.0191. First support is the 20-day moving average crossing at 0.9984. Second support is April's low crossing at 0.9814.

The June Canadian Dollar closed sharply higher on Friday as it extends this week's rally. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off last-Friday's low, the March-19th high crossing at 75.64 is the next upside target. Closes below the 20-day moving average crossing at 74.43 would confirm that a short-term top has been posted. First resistance is the April-17th high crossing at 75.45. Second resistance is March's high crossing at 75.64. First support is last-Friday's low crossing at 73.74. Second support is December's low crossing at 73.47.

The June Japanese Yen closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off April's low, the 75% retracement level of the November-January-rally crossing at 0.0936 is the next upside target. Closes below the 20-day moving average crossing at 0.0916 would confirm that a short-term top has been posted. First resistance is the 62% retracement level of the November-January-rally crossing at 0.0929. Second resistance is the 75% retracement level of the November-January-rally crossing at 0.0936. First support is the 20-day moving average crossing at 0.0916. Second support is the 50-day moving average crossing at 0.0908.



 
Energy Snapshot
Symbol Last Change %
CRUDE OIL Jul 2019 54.30 +0.31 +0.52%
NY HARBOR ULSD HEATING OIL Jul 2019 1.8278 +0.0030 +0.15%
NATURAL GAS Jul 2019 2.327 -0.010 -0.39%
RBOB GASOLINE Jul 2019 1.7383 -0.0006 -0.03%
0.00%
United States Gasoline 27.90 +0.15 +0.48%

ENERGIES

July crude oil closed higher on Friday as it consolidates some of the decline off April's high. The high-range close sets the stage for a steady to higher opening when Monday's night session begins. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to higher prices are possible near-term. If July extends the decline off April's high, the 75% retracement level of the December-April-rally crossing at 49.69 is the next downside target. Closes above the 20-day moving average crossing at 58.52 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 55.17. Second resistance is the 20-day moving average crossing at 58.52. First support is Wednesday's low crossing at 50.60. Second support is the 75% retracement level of the December-April-rally crossing at 49.69.

July heating oil closed higher on Friday as it consolidates some of the decline off May's high. The high-range close sets the stage for a steady to higher opening when Monday's night 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 July extends the aforementioned decline, the 87% retracement level of the December-April-rally rally crossing at 169.59 is the next downside target. Closes above the 20-day moving average crossing at 196.72 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 187.23. Second resistance is the 20-day moving average crossing at 196.72. First support is the 75% retracement level of the December-April-rally crossing at 175.75. Second support is the 87% retracement level of the December-April-rally rally crossing at 169.59.

July unleaded gas closed higher on Friday as it consolidates some of the decline off May's high. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. If July extends the decline off April's high, the 75% retracement level of the December-April-rally crossing at 159.94 is the next downside target. Closes above the 20-day moving average crossing at 188.44 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 179.89. Second resistance is the 20-day moving average crossing at 188.44. First support is the 62% retracement level of the December-April-rally crossing at 168.15. Second support is the 75% retracement level of the December-April-rally crossing at 159.94.

July Henry natural gas closed slightly higher due to short covering on Friday. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends this spring's decline, weekly support crossing at 2.168 is the next downside target. Closes above the 20-day moving average crossing at 2.559 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 2.471. Second resistance is the 20-day moving average crossing at 2.559. First support is Thursday's low crossing at 2.305. Second support is monthly support crossing at 2.168.



 
Food Snapshot
Symbol Last Change %
0.00%
0.00%
0.00%
IPATH SER B BLOOMBERG SUGAR SUBINDEX TOTAL RETURN 43.4694 +0.0344 +0.08%
IPATH SER B BLOOMBERG SOFTS SUBINDEX TOTAL RETURN 39.0500 +0.4946 +1.31%

FOOD & FIBER

July coffee closed lower on Friday. The low-range close sets the stage for a steady to lower opening on Monday. 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 9.59 would confirm that a short-term top has been posted. If July renews the rally off May's low, February's high crossing at 11.29 is the next upside target.

July cocoa closed higher on Friday. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are neutral to bullish signaling sideways to higher prices are possible near-term. If July renews the rally off April's low, last-July's high crossing at 25.84 is the next upside target.Closes below the 50-day moving average crossing at 23.65 would confirm that a short-term top has been posted.

July sugar closed slightly lower on Friday. The high-range close set the stage for a steady to higher opening on Monday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends the rally off May's low, the reaction high crossing at 12.75 is the next upside target. Closes below the 20-day moving average crossing at 11.91 would confirm that a short-term top has been posted.

July cotton closed limit down on Friday. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If July resumes this spring's decline, monthly support crossing at 59.85 is the next downside target. If July renews the rally off May's low, the 50-day moving average crossing at 73.33 is the next upside target.



[FREE] 5 Stocks for Building Wealth After 50

The Motley Fool Co-Founders David and Tom Gardner just released a brand-new report detailing 5 of their team's favorite stocks to buy right now. It's never too late to build your fortune in the stock market. You can grab YOUR FREE copy for a limited time only.


 
Grains Snapshot
Symbol Last Change %
CORN Jul 2019 412.50 -3.25 -0.77%
OATS Jul 2019 293.50 -2.50 -0.79%
WHEAT Jul 2019 496.25 -8.25 -1.64%
Teucrium Corn Fund ETV 16.391 -0.169 -1.05%
IPATH SER B BLOOMBERG GRAINS SUBINDEX TOTAL RETURN 46.5712 -0.7638 -1.69%
Elements Mlcx Grains Index Trust 3.2791 -0.0159 -0.50%
SOYBEANS Jul 2019 850.50 -5.75 -0.67%
SOYBEAN (MINI) Jul 2019 850.250 -6.000 -0.70%
SOYBEAN MEAL Jul 2019 309.7 -2.6 -0.83%
Teucrium Soybean Fund ETV 15.1305 -0.1895 -1.29%

GRAINS

July Corn closed down 4 3/4-cents at 4.15 3/4.

July corn closed closed lower on Friday and below the steep uptrend line drawn off May's low. The low-range close sets the stage for a steady to lower opening when Monday's night sessions begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below last-Tuesday's gap crossing at 4.04 3/4 would confirm that a short-term top has been posted. If July resumes the rally off May's low, last-May's high crossing at 4.45 is the next upside target. First resistance is last-Wednesday's high crossing at 4.38. Second resistance is last-May's high crossing at 4.45. First support is last-Tuesday's gap crossing at 4.04 3/4. Second support is the 20-day moving average crossing at 3.98 3/4.

July wheat closed down 6 1/2-cents at 5.03 1/2.

July wheat closed lower on Friday due to profit taking. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below last-Thursday's low crossing at 4.66 1/4 would confirm that a short-term top has been posted. If July resumes the rally off May's low, the 62% retracement level of the 2018-2019-decline crossing at 5.42 1/2 is the next upside target. First resistance is Tuesday's high crossing at 5.29. Second resistance is the 62% retracement level of the 2018-2019-decline crossing at 5.42 1/2. First support is last-Thursday's low crossing at 4.66 1/4. Second support is the 20-day moving average crossing at 4.81.

July Kansas City Wheat closed down 6 1/4-cents at 4.49.

July Kansas City wheat closed lower on Friday confirming yesterday's key reversal down. The low-range close sets the stage for a steady to lower opening when Monday night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 4.38 1/2 would confirm that a short-term top has been posted. If July renews the rally off May's low, the 50% retracement level of the 2018-2019-decline crossing at 5.41 1/2 is the next upside target. First resistance is Tuesday's high crossing at 4.97. Second resistance is the 50% retracement level of the 2018-2019-decline crossing at 5.41 1/2. First support is Thursday's low crossing at 4.40 3/4. Second support is the 20-day moving average crossing at 4.38 1/2.

July Minneapolis wheat closed up 3 3/4-cents at 5.68 3/4.

July Minneapolis wheat closed higher on Friday as it tested the 38% retracement level of the 2018-2019-decline crossing at 5.70 1/2. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends the rally off April's low, the 50% retracement level of the 2018-2019-decline crossing at 5.90 1/2 is the next upside target. Closes below the 20-day moving average crossing at 5.43 1/4 would confirm that a short-term top has been posted. First resistance is the 38% retracement level of the 2018-2019-decline crossing at 5.70 1/2. Second resistance is the 50% retracement level of the 2018-2019-decline crossing at 5.90 1/2. First support is the 20-day moving average crossing at 5.43 1/4. Second support is the reaction low crossing at 5.32.

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

July soybeans closed down 13 1/4-cents at 8.55 1/2.

July soybeans closed lower on Friday and below last-Wednesday's gap crossing at 8.58 1/4 confirming that a short-term top has been posted. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends this week's decline, the 20-day moving average crossing at 8.45 1/2 is the next downside target. If July renews the rally off May's low, April's high crossing at 9.20 1/2 is the next upside target. First resistance is Tuesday's high crossing at 8.94 1/2. Second resistance is April's high crossing at 9.20 1/4. First support is the 20-day moving average crossing at 8.45 1/2. Second support is last-Thursday's low crossing at 8.17.

July soybean meal closed down $3.50 at 312.40.

July soybean meal closed lower on Friday and below last-Wednesday's gap crossing at 314.00 confirming that a short-term top has been posted. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends this week's decline, the 20-day moving average crossing at 305.90 is the next downside target. If July renews the rally off May's low, January's high crossing at 331.10 is the next upside target. First resistance is last-Thursday's high crossing at 328.10. Second resistance is January's high crossing at 331.10. First support is today's low crossing at 311.10. Second support is the 20-day moving average crossing at 305.90.

July soybean oil closed down 44-pts. at 27.32.

July soybean oil closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the reaction low crossing at crossing at 26.74 would confirm that a short-term top has been posted. Closes above the 50-day moving average crossing at 27.99 would open the door for a larger-degree rally into June. First resistance is the 50-day moving average crossing at 27.99. Second resistance is April's high crossing at 29.72. First support is the reaction low crossing at crossing at 26.74. Second support is May's low crossing at 26.21.



 
Indexes Snapshot
Symbol Last Change %
Dow Jones Industrial Average 25983.94 +263.28 +1.04%
NASDAQ Composite 7742.10 +126.55 +1.66%
S&P 500 2873.34 +29.85 +1.07%
SPDR S&P 500 287.72 +2.92 +1.03%
iShares Russell 2000 ETF 150.88 +1.08 +0.72%

U.S. STOCK INDEXES

The June NASDAQ 100 closed sharply higher on Friday as it extended the rally off Monday's low. Today's close above the 20-day moving average crossing at 7346.48 confirms that a short-term low has been posted. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If June resumes the decline off April's high, the 50% retracement level of the December-April-rally crossing at 6863.36 is the next downside target. First resistance is the 50-day moving average crossing at 7540.60. Second resistance is April's high crossing at 7879.50. First support is Monday's low crossing at 6941.25. Second support is the 50% retracement level of the December-April-rally crossing at 6863.36.

The June S&P 500 closed sharply higher on Friday and above the 50-day moving average crossing at 2872.68 confirming that a short-term low has been posted. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends this week's rally, May's high crossing at 2957.30 is the next upside target. If June resumes the decline off May's high, the 38% retracement level of the December-April-rally rally crossing at 2723.23 is the next downside target. First resistance is the reaction high crossing at 2892.00. Second resistance is May's high crossing at 2957.30. First support is the 38% retracement level of the December-April-rally crossing at 2723.23. Second support is the 50% retracement level of the December-April-rally crossing at 2650.94.

The Dow closed higher on Friday as it extended the rally off Monday's low. Stocks rallied today despite a weaker-than-expected jobs report, which raises the possibility that the Federal Reserve will ease interest rates in the near future over fears that the U.S. economy is decelerating as trade tensions between the U.S. and counterparts Mexico and China persist. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Today's close above the 20-day moving average crossing at 25,519.40 confirms that a short-term low has been posted. If the Dow extends this week's rally, the 50-day moving average crossing at 25,998.18 is the next upside target. If the Dow renews the decline off May's high, the 50% retracement level of the December-May-rally crossing at 24,204.24 is the next downside target. First resistance is the 50-day moving average crossing at 25,998.18. Second resistance is April's high crossing at 26,695.96. First support is the 38% retracement level of the December-May-rally crossing at 24,795.46. Second support is the 50% retracement level of the December-May-rally crossing at 24,204.24.



 
Interest Snapshot
Symbol Last Change %
T-BONDS Jun 2019 154.18750 -1.00000 -0.66%
0.00%
5 YEAR T-NOTES Jun 2019 117.304688 -0.242188 -0.21%
ULTRA T-BONDS Jun 2019 175.40625 +1.37500 +0.80%
Invesco Senior Loan Portf 22.690 +0.010 +0.04%

INTEREST RATES

June T-bonds closed up 1-00/32's at 155-06.

June T-bonds closed higher on Friday on ideas that the Fed might be willing to cut interest rates should any slowdown in the economy be perceived. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If June renews this year's rally, weekly resistance crossing at 156-29 is the next upside target. Closes below the 20-day moving average crossing at 151-19 would confirm that a short-term top has been posted. First resistance is Monday's high crossing at 155-22. Second resistance is weekly resistance crossing at 156-29. First support is the 10-day moving average crossing at 153-20. Second support is the 20-day moving average crossing at 151-19.

June T-notes closed up 85-pts. At 126.280.

June T-notes closed higher on Friday as it extended this spring's rally. The mid-range close sets the stage for a steady to higher opening when Friday'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 June extends the rally off April's low, weekly resistance crossing at 127.260 is the next upside target. Closes below the 20-day moving average crossing at 125.092 would confirm that a short-term top has been posted. First resistance is today's high crossing at 127.080. Second resistance is weekly resistance crossing at 127.260. First support is the 10-day moving average crossing at 126.047. Second support is the 20-day moving average crossing at 125.092.



 
Livestock Snapshot
Symbol Last Change %
FEEDER CATTLE Aug 2019 137.275 -1.500 -1.05%
LEAN HOGS Jun 2019 78.775 -0.650 -0.77%
LIVE CATTLE Jun 2019 106.75 -0.75 -0.67%
IPATH SER B BLOOMBERG LIVESTOCK SUBINDEX TOTAL RETURN 46.4165 -1.2135 -2.49%

LIVESTOCK

June hogs closed down $0.73 at $78.65.

June hogs closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends this month's decline, the 87% retracement level of the February-April-rally crossing at 75.75 is the next downside target. Closes above the 20-day moving average crossing at 86.22 are needed to confirm that a low has been posted. First resistance is the 10-day moving average crossing at 82.15. Second resistance is the 20-day moving average crossing at 86.22. First support is today's low crossing at 78.27. Second support is the 87% retracement level of the February-April-rally crossing at 75.75.

June cattle closed down $0.68 at 106.50.

June cattle closed lower on Friday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the decline off March's high, the April-2018 low crossing at 104.78 is the next downside target. Closes above last-Friday's high crossing at 113.03 are needed to confirm that a short-term low has been posted. First resistance is the reaction high crossing at 114.88. Second resistance is the 50-day moving average crossing at 114.73. First support is today's low crossing at 106.50. Second support is the April-2018 low crossing at 104.78.

August Feeder cattle closed down $2.03 at $137.25.

August Feeder cattle closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 141.17 are needed to confirm that a low has been posted. If August extends the decline off March's high, weekly support crossing at 128.57 is the next downside target. First resistance is the 20-day moving average crossing at crossing at 141.17. Second resistance is the reaction high crossing at 148.10. First support is last-Friday's low crossing at 132.15. Second support is weekly support crossing at 128.57.



 
Metals Snapshot
Symbol Last Change %
GOLD Jun 2019 1326.1 -15.1 -1.18%
SPDR Gold Trust 126.575 +0.695 +0.57%
SILVER Jun 2019 15.040 +0.172 +1.20%
PALLADIUM Jun 2019 1338.0 +0.9 +0.07%
Direxion Daily Gold Miners Index Bear 3X Shares 16.3000 -0.0600 -0.26%
Invesco DB Precious Metals Fund 37.15 +0.29 +0.81%

PRECIOUS METALS

June gold closed higher on Friday as it extends the rally off May's low. The mid-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends this week's rally, February's high crossing at 1356.00 is the next upside target. Closes below the 20-day moving average crossing at 1297.20 would confirm that a short-term low has been posted. First resistance is today's high crossing at 1347.70. Second resistance is February's high crossing at 1356.00. First support is the 50% retracement level of the August-February-rally crossing at 1272.30. Second support is the 62% retracement level of the August-February-rally crossing at 1252.70.

July silver closed higher on Friday. The mid-range close set the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. Today's close above the 50-day moving average crossing at 14.868 opens the door for additional gains near-term. Closes below the 20-day moving average crossing at 14.628 would confirm that a short-term top has been posted. First resistance is today's high crossing at 15.150. Second resistance is April's high crossing at 15.400. First support is May's low crossing at 14.265. Second support is last-November's low crossing at 14.175.

July copper closed lower on Friday as it posted a new low close for the year. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends the decline off April's high, January's low crossing at 256.10 is the next downside target. Closes above the 20-day moving average crossing at 269.06 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 265.59. Second resistance is the 20-day moving average crossing at 269.06. First support is the 87% retracement level of the January-April-rally crossing at 261.76. Second support is January's low crossing at 256.10.



 
Top Stocks
#symbolnamelastnet%volumescoretriangles 
1. AMD Advanced Micro Devices, Inc 32.4256 +0.6056 +2.29% 84,295,063 +100    Entry Signal
2. BKS Barnes & Noble, Inc 6.615 +0.655 +13.94% 39,511,386 +90    Entry Signal
3. MSFT Microsoft Corp 131.435 +3.615 +2.86% 29,432,387 +90    Entry Signal
4. SNAP Snap, Inc 13.8799 +0.0599 +0.52% 27,778,294 +90    Entry Signal
5. CZR Caesars Entertainment Corp 9.4601 +0.3301 +3.66% 24,027,395 +90    Entry Signal
6. LJPC LA Jolla Pharmaceuticals Co 12.878 +2.638 +47.96% 20,504,391 +100    Entry Signal
7. KO Coca-Cola Co 51.480 +0.080 +0.16% 12,638,978 +90    Entry Signal
8. S Sprint Corp 7.105 +0.125 +1.75% 12,258,069 +100    Entry Signal
9. MRVL Marvell Tech 24.055 +0.365 +1.67% 11,689,528 +100    Entry Signal
10. C Citigroup, Inc 65.6831 -0.7869 -1.22% 10,646,154 +90    Entry Signal
 
Top Futures
#symbolnamelastnet%volumescoretriangles 
1. ES.M19 S&P 500 INDEX (E-MINI) Jun 2019 2887.75 +12.75 +0.45% 188,259 +100    Entry Signal
2. @CC.Z19 COCOA DECEMBER 2019 2467 +21 +0.86% 10,389 +100    Entry Signal
3. ES.U19 S&P 500 INDEX (E-MINI) Sep 2019 2891.50 +13.00 +0.46% 7,491 +100    Entry Signal
4. @CC# COCOA SEPTEMBER 2019 2450 -16 -0.65% 4,636 +100    Entry Signal
5. @CC.N19 COCOA JULY 2019 2467 -11 -0.44% 3,155 +100    Entry Signal
6. 6R.M19 RUSSIAN RUBLE Jun 2019 0.015430 +0.000025 +0.16% 2,996 +100    Entry Signal
7. @CC.U19 COCOA SEPTEMBER 2019 2457 -9 -0.36% 2,669 +100    Entry Signal
8. SR1.N19 1 MONTH SOFR Jul 2019 97.640 +0.020 +0.02% 2,117 +100    Entry Signal
9. GCT.Q19 GOLD (TAS) Aug 2019 1 -1 0.00% 1,949 +90    Entry Signal
10. RP.M19 EURO/BRITISH POUND Jun 2019 0.89220 +0.00195 +0.22% 1,432 +90    Entry Signal

Thank you! Thank you for subscribing to INO Morning Commentary from INO.com.
You can modify your email preferences or unsubscribe here.
INO.com, Inc. | 228 Park Avenue South, Suite 320 | New York, New York 10003

All trades, patterns, charts, systems, etc., discussed in this message and the product materials are for illustrative purposes only and not to be construed as specific advisory recommendations. All ideas and material presented are entirely those of the author and do not necessarily reflect those of the publisher or INO.com. Please see our user agreement.

Copyright 2019 INO.com. All Rights Reserved.

No comments:

Post a Comment