Nas +62.17 Gold -8.89 Dow -184.82 S&P -15.97 USD -0.262 Dowfut -132

INO.com  INO Evening Markets Report

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Summary
The Dow Future has slipped 132 points to 29901. The US Dollar Index declined 0.262 points to 90.714. Gold is declining 8.89 dollars to 1827.06. Silver is down 0.0895 dollars to 23.8440. The Dow Industrials edged lower 184.82 points, at 29861.55, while the S&P 500 trended lower by 15.97 points, last seen at 3647.49. The Nasdaq Composite climbed 62.17 points to 12440.04. Streaming charts of these markets are available at MarketClub

Blog Postings and Videos
Buy Setup For Gold, Two Paths For Silver
Monday Dec 14th

S&P 500 Futures Point To Higher Prices
Sunday Dec 13th

Stock Market Ready For A Pause
Saturday Dec 12th

 
Currencies Snapshot
Symbol Last Change %
US DOLLAR INDEX 90.714 -0.262 -0.29%
Invesco DB US Dollar Index 24.46 -0.08 -0.32%
US Dollar/Canadian Dollar 1.276405 +0.000790 +0.06%
Euro/US Dollar 1.214270 +0.000945 +0.08%
JAPANESE YEN Dec 2020 0.009619 +0.000003 +0.03%
SWISS FRANC Dec 2020 1.1281 +0.0038 +0.35%
US Dollar/Hong Kong Dollar 7.75180 +0.00006 0.00%
CURRENCIES:http://quotes.ino.com/ex changes/?c=currencies"

The March Dollar closed lower on Monday as it extends last-week's trading range. The mid-range close sets the stage for a steady to higher opening when Tuesday'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 20-day moving average crossing at 91.47 would signal that a short-term low has been posted. If March resumes this year's decline, monthly support crossing at 90.21 is the next downside target. First resistance is the 10-day moving average crossing at 90.82. Second resistance is the 20-day moving average crossing at 91.47. First support is today's low crossing at 90.35. Second support is monthly support crossing at 90.21.

The March Euro closed higher on Monday as it extends the trading range of the past eight-days. The mid-range close sets the stage for a steady to higher opening when Tuesday'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 March resumes the rally off November's low, the 62% retracement level of the 2018-2020-decline crossing at 125.39 is the next upside target. Closes below the 20-day moving average crossing at 120.32 would signal that a short-term top has been posted. First resistance is the reaction high crossing at 122.09. Second resistance is the 62% retracement level of the 2018-2020-decline crossing at 125.39. First support is last-Wednesday's low crossing at 120.90. Second support is the 20-day moving average crossing at 120.32.

The March British Pound closed higher on Monday but remains below the 20-day moving average crossing at 1.3343. The low-range close sets the stage for a steady to lower opening when Tuesday'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 1.3162 would open the door for additional weakness and a possible test of November's low crossing at 1.2876. If March resumes the rally off September's low, the February-2019 high crossing at 1.3728 is the next upside target. First resistance is last-Friday's high crossing at 1.3550. Second resistance is the February-2019 high crossing at 1.3728. First support is the 50-day moving average crossing at 1.3162. Second support is November's low crossing at 1.2876.

The March Swiss Franc closed higher on Monday as it continues to grind higher. The mid-range close sets the stage for a steady to higher opening when Tuesday'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 March extends this month's rally, the September-2019 high crossing at 1.1408 is the next upside target. Closes below the 20-day moving average crossing at 1.1143 would signal that a short-term top has been posted. First resistance is last-Friday's high crossing at 1.1333. Second resistance is the September-2019 high crossing at 1.1408. First support is the 10-day moving average crossing at 1.1260. Second support is the 20-day moving average crossing at 1.1143.

The March Canadian Dollar closed slightly higher on Monday. The mid-range close sets the stage for a steady to higher opening when Tuesday'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 March extends the rally off October's low, the October-2018 high crossing at 79.09 is the next upside target. Closes below the 20-day moving average crossing at 77.35 would confirm that a short-term top has been posted. First resistance is last-Thursday's high crossing at 78.74. Second resistance is the October-2018 high crossing at 79.09. First support is the 10-day moving average crossing at 78.03. Second support is the 20-day moving average crossing at 77.35.

The March Japanese Yen closed unchanged on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday'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 March renews the rally off November's low, November's high crossing at 0.0971 is the next upside target. Closes below the 50-day moving average crossing at 0.0957 would signal that a short-term top has been posted. First resistance is today's high crossing at 0.0967. Second resistance is November's high crossing at 0.0971. First support is the 50-day moving average crossing at 0.0957. Second support is November's low crossing at 0.0948.



 
Energy Snapshot
Symbol Last Change %
CRUDE OIL Jan 2021 47.00 +0.43 +1.09%
NY HARBOR ULSD HEATING OIL Jan 2021 1.4562 +0.0193 +1.63%
NATURAL GAS Jan 2021 2.666 +0.075 +2.35%
RBOB GASOLINE Jan 2021 1.3217 +0.0140 +1.27%
Invesco DWA Energy Momentum ETF 18.5277 -0.0008 -0.01%
United States Gasoline 22.6400 +0.2200 +1.19%

ENERGIES

January crude oil closed higher on Monday as it extends the rally off November's low. The high-range close sets the stage for a steady to higher opening when Tuesday'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 January extends the rally off November's low, the 62% retracement level of the 2018-2020-decline crossing at $52.20 is the next upside target. Closes below the 20-day moving average crossing at $44.60 would signal that a short-term top has been posted. First resistance is the 50% retracement level of the 2018-2020-decline crossing at $47.20. Second resistance is the 62% retracement level of the 2018-2020-decline crossing at $52.20. First support is the 20-day moving average crossing at $44.61. Second support is the 50-day moving average crossing at $41.83.

January heating oil posted a key reversal up and close higher on Monday as it extends the rally off November's low. The high-range close sets the stage for a steady higher opening when Tuesday'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 January extends the rally off November's low, the 38% retracement level of the 2018-2020-decline crossing at $150.97 is the next upside target. Closes below the 20-day moving average crossing at $135.94 would signal that a short-term top has been posted. First resistance is last-Thursday's high crossing at $146.19. Second resistance is the 38% retracement level of the 2018-2020-decline crossing at $150.97. First support is the 10-day moving average crossing at $140.29. Second support is the 20-day moving average crossing at $135.94.

January unleaded gas closed higher on Monday as it extended the rally off November's low. The high-range close sets the stage for a steady to higher opening when Tuesday'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 January extends the rally off November's low, the 50% retracement level of the 2018-2020-decline crossing at $134.28 is the next upside target. Closes below the 20-day moving average crossing at $123.62 would signal that a short-term top has been posted. First resistance is last-Thursday's high crossing at $133.55. Second resistance is the 50% retracement level of the 2018-2020-decline crossing at $134.28. First support is the 20-day moving average crossing at 123.62. Second support is the 50-day moving average crossing at $117.13.

January Henry natural gas closed higher on Monday extended the rally off last-Tuesday's low. The mid-range close sets the stage for a steady to higher opening when Tuesday'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 20-day moving average crossing at 2.715 are needed to confirm that a short-term low has been posted. If January renews the decline off November's high, weekly support crossing at 2.179 is the next downside target. First resistance is the 20-day moving average crossing at 2.715. Second resistance is the November 25th high crossing at 3.002. First support is last-Tuesday's low crossing at 2.368. Second support is weekly support crossing at 2.179.



 
Food Snapshot
Symbol Last Change %
COFFEE DECEMBER 2020 123.85 +4.75 +3.99%
SUGAR #11 WORLD MARCH 2021 14.13 -0.30 -2.08%
SUGAR #16 MARCH 2021 28.30 -0.05 -0.18%
ORANGE JUICE - A JANUARY 2021 114.05 -2.00 -1.72%
IPATH SER B BLOOMBERG SUGAR SUBINDEX TOTAL RETURN 42.517 -0.713 -1.62%
IPATH SER B BLOOMBERG SOFTS SUBINDEX TOTAL RETURN 40.4600 +0.2738 +0.70%

FOOD & FIBER

March coffee closed sharply higher on Monday as it renewed the rally off November's low. The high-range close sets the stage for a steady to higher opening on Tuesday. 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 November's low, the 75% retracement level of the September-November decline crossing at 12.80 is the next upside target. Closes below last-Monday's low crossing at 11.45 are needed to confirm that a short-term top 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 bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 26.43 would signal that a short-term low has been posted. If March resumes the decline off November's high, the 50-day moving average crossing at 24.89 is the next downside target.

March sugar closed lower on Monday as it renewed the decline off November's high. The low-range close set 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. If March extends today's decline, the October 30th low crossing at 13.94 is the next downside target. Closes above last-Thursday's high crossing at 15.07 would confirm that a short-term low has been posted.

March cotton closed higher on Monday as it extends this year's rally. The mid-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off April's low, the July-2018 high crossing at 79.56 is the next upside target. Closes below the 50-day moving average crossing at 71.31 would confirm that a short-term top has been posted.



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Grains Snapshot
Symbol Last Change %
CORN Dec 2020 422.00 -2.25 -0.56%
OATS Dec 2020 349.00 +24.00 +8.10%
WHEAT Dec 2020 592.5 +11.5 +1.90%
Teucrium Corn Fund ETV 14.110 -0.010 -0.07%
IPATH SER B BLOOMBERG GRAINS SUBINDEX TOTAL RETURN 49.250 -0.455 -0.96%
ELEMENTS Linked to the ICE BofAML Commodity Index eXtra Grains Total Return 3.1102 -0.0898 -2.81%
SOYBEANS Jan 2021 1170.25 +9.75 +0.90%
SOYBEAN (MINI) Jan 2021 1168.375 +7.875 +0.73%
SOYBEAN MEAL Dec 2020 380.8 -3.3 -0.85%
Teucrium Soybean Fund ETV 17.8900 +0.1400 +0.86%

GRAINS

March Corn closed up $0.01-cent at $4.24 1/2.

March corn closed higher on Monday as it extends this month's trading range. The mid-range close sets the stage for a steady to higher opening when Tuesday's night sessions begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If March resumes the rally off April's low, weekly resistance marked by the June-2016 high crossing at $4.43 1/2 is the next upside target. If March renews the decline off November's high, the 50-day moving average crossing at $4.15 1/2 is the next downside target. First resistance is November's high crossing at $4.39 1/2. Second resistance is the June-2016 high crossing at $4.43 1/2 is the next upside target. First support is the 50-day moving average crossing at $4.15 1/2. Second support is the October 29th low crossing at $3.96.

March wheat closed down $0.17 3/4-cents at $5.96 3/4.

March wheat closed sharply lower on Monday due to profit taking after failing to extend last-week's rally above the November 25th high crossing at $6.22 3/4. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off last-Monday's low, November's high crossing at $6.28 3/4 is the next upside target. Closes below the 10-day moving average crossing at $5.86 3/4 would signal that a short-term top has been posted. First resistance is the November 25th high crossing at $6.22 3/4. Second resistance is November's high crossing at $6.28 3/4. First support is the 50% retracement level of the June-November-rally crossing at $5.71. Second support is the 62% retracement level of the June-October-rally crossing at $5.55.

March Kansas City Wheat closed up $0.19 1/4-cents at $5.82 3/4.

March Kansas City wheat posted its highest close in 18 months on Monday in early trading followed by a sharp sell off to consolidate some of last week's rally. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends last-week's rally, the 87% retracement level of the 2018-2020 decline crossing at $6.12 is the next upside target. Closes below the 10-day moving average crossing at $5.52 1/4 would signal that a short-term top has been posted. First resistance is the 75% retracement level of the 2018-2020 decline crossing at crossing at $5.87 1/4. Second resistance is the 87% retracement level of the 2018-2020 decline crossing at $6.12. First support is the 10-day moving average crossing at $5.52 1/2. Second support is last-Monday's low crossing at $5.30 3/4.

March Minneapolis wheat closed down $0.12 1/2-cents at $5.57 1/2.

March Minneapolis wheat closed lower on Monday as it consolidated some of last-week's rally. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible. If March extends last-week's rally, November's high crossing at $5.86 is the next upside target. Closes below the 10-day moving average crossing at crossing at $5.54 1/2 would confirm that a short-term top has been posted. First resistance is last-Friday's high crossing at crossing at $5.74. Second resistance is November's high crossing at $5.86. First support is the 10-day moving average crossing at crossing at $5.54 1/2. Second support is last-Wednesday's low crossing at $5.42 1/2.

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

January soybeans closed up $0.09 3/4-cents at $11.69 3/4.

January soybeans closed higher on Monday as it extends this month's trading range. The high-range close sets the stage for a steady to higher opening when Tuesday'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 January renews the rally off August's low, monthly resistance marked by the June-2016 high crossing at $12.08 1/2 is the next upside target. Closes below the reaction low crossing at $11.42 1/2 would open the door for additional weakness and a possible test of the 50-day moving average crossing at $11.13 later this month. First resistance is November's high crossing at $12.00. Second resistance is monthly resistance marked by the June-2016 high crossing at $12.08 1/2. First support is the reaction low crossing at $11.42 1/2. Second support is the 50-day moving average crossing at $11.13.

March soybean meal closed up $0.60 to $382.00.

March soybean meal closed higher on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday'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 March extends the decline off November's high, the 50-day moving average crossing at $372.50 is the next downside target. If March renews the rally off August's low, monthly resistance crossing at $404.90 is the next upside target. First resistance is November's high crossing at $398.80. Second resistance is monthly resistance crossing at $404.90. First support is last-Tuesday's low crossing at $377.80. Second support is the 50-day moving average crossing at $372.50.

March soybean oil closed up 54-pts. at 38.60.

March soybean oil closed higher on Monday as it extends the trading range of the past five-weeks. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. If March resumes the rally off October's low, monthly resistance crossing at 41.25 is the next upside target. Closes below the December 2nd low crossing at 36.42 would confirm that a short-term top has been posted while opening the door for additional weakness near-term. First resistance is today's high crossing at 38.76. Second resistance is monthly resistance crossing at 41.25. First support is the December 2nd low crossing at 36.42. Second support is the 50-day moving average crossing at 35.42.



 
Indexes Snapshot
Symbol Last Change %
Dow Jones Industrial Average 29861.55 -184.82 -0.67%
NASDAQ Composite 12440.04 +62.17 +0.56%
S&P 500 3647.49 -15.97 -0.47%
SPDR S&P 500 364.70 -1.60 -0.48%
iShares Russell 2000 ETF 190.02000 +0.31248 +0.20%

U.S. STOCK INDEXES

The Dow spiked to a new all-time high in early trading on Monday before profit taking led to a lower close. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 29,861.26 would confirm that a short-term top has been posted. If the Dow extends this year's rally into uncharted territory, upside targets will be hard to project. First resistance is today's high crossing at 30,325.79. Second resistance is unknown. First support is the 20-day moving average crossing at 29,861.26. Second support is the November 12th low crossing at 28,902.13.

The March NASDAQ 100 closed higher on Monday. The mid-range close sets the stage for a steady to higher opening when Tuesday'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 below the 20-day moving average crossing at 12,260.00 are needed to confirm that a short-term top has been posted. If March resumes the rally off November's low into uncharted territory, upside targets will be hard to project. First resistance is last-Wednesday's high crossing at 12,667.75. Second resistance is unknown. First support is the 20-day moving average crossing at 12,260.00. Second support is the 50-day moving average crossing at 11,893.36.

The March S&P 500 closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday'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 3631.24 would confirm that a short-term top has been posted. If March extends the rally off November's low into uncharted territory, upside targets will be hard to project. First resistance is last-Wednesday's high crossing at 3712.49. Second resistance is unknown. First support is the 20-day moving average crossing at 3631.24. Second support is the 50-day moving average crossing at 3510.55.



 
Interest Snapshot
Symbol Last Change %
T-BONDS Dec 2020 172.53125 -0.09375 -0.05%
iShares Floating Rate Bond ETF 50.739 +0.003 +0.01%
5 YEAR T-NOTES Dec 2020 125.765625 -0.015625 -0.01%
ULTRA T-BONDS Dec 2020 215.96875 +1.90625 +0.87%
Invesco Senior Loan Portf 22.205 -0.025 -0.12%

INTEREST RATES

March T-bonds closed down 2/32's at 173-19.

March T-bonds closed slightly lower on Monday as it consolidated some of last-week's rally. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 174-10 would confirm that a low has been posted while opening the door for a possible test of November's high crossing at 177-06. If March resumes the decline the November 20th high, November's low crossing at 170-22 is the next downside target. First resistance is the 50-day moving average crossing at 174-10. Second resistance is November's high crossing at 177-06. First support is the December 4th low crossing at 171-04. Second support is November's low crossing at 170-22.

March T-notes closed up 10-pts. at 138.020.

March T-notes closed higher on Monday as it extends the rally off the December 4th low. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 138.023 would confirm that a short-term low has been posted and opens the door for additional short-term gains. Closes below the December 4th low crossing at 137.075 would open the door for a possible test of November's low crossing at 136.265. First resistance is the 50-day moving average crossing at 138.023. Second resistance is November's high crossing at 138.300. First support is the December 4th low crossing at 137.075. Second support is November's low crossing at 136.265.



 
Livestock Snapshot
Symbol Last Change %
FEEDER CATTLE Jan 2021 139.950 +0.225 +0.17%
LEAN HOGS Dec 2020 64.900 +0.225 +0.34%
LIVE CATTLE Dec 2020 109.20 +0.45 +0.42%
IPATH SER B BLOOMBERG LIVESTOCK SUBINDEX TOTAL RETURN 33.6100 +0.1000 +0.30%

LIVESTOCK

February hogs closed up $2.38 at $65.60.

February hogs closed sharply higher on Monday as it consolidated some of this month's decline. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If February extends this month's decline, November's low crossing at $62.75 is the next downside target. Closes above the 50-day moving average crossing at $67.25 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at $66.12. Second resistance is the 50-day moving average crossing at $67.25. First support is November's low crossing at $62.75. Second support is September's crossing at $61.55.

February cattle closed down $0.25 at $113.00

February cattle posted an inside day with a lower close on Tuesday but remains above the 20-day moving average crossing at $112.49. The mid-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If February extends last-week's rally, the November 24th high crossing at $114.70 is the next upside target. If February renews the decline off the November 24th high, the November 20th low crossing at $109.00 is the next downside target. If First resistance is the November 24th high crossing at $114.70. Second resistance is November's high crossing at $115.45. First support is the November 20th low crossing at $109.00. Second support is October's low crossing at $105.53.

March Feeder cattle closed up $0.13 at $140.68.

March Feeder cattle closed higher on Monday. The mid-range close sets the stage for a steady to higher opening when Tuesday's 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 October's low, August's high crossing at $145.30 is the next upside target. Closes below last-Monday's low crossing at $137.25 would signal that a short-term top has been posted. First resistance is this month's high crossing at $142.00. Second resistance is August's high crossing at $145.30. First support is last-Monday's low crossing at $137.25. Second support is the 50-day moving average crossing at $135.14.



 
Metals Snapshot
Symbol Last Change %
GOLD Dec 2020 1826.6 -13.2 -0.69%
SPDR Gold Trust 171.51 -0.98 -0.55%
SILVER Dec 2020 24.160 +0.128 +0.53%
PALLADIUM Dec 2020 2316.5 -17.0 -0.74%
Direxion Daily Gold Miners Index Bear 2X Shares 22.51 +0.93 +5.14%
Invesco DB Precious Metals Fund 50.099 -0.276 -0.53%

PRECIOUS METALS

February gold closed lower on Monday as it extended the decline off last-Tuesday's high. The mid-range close sets the stage for a steady opening when Tuesday'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 February renews the decline off November's high, the 50% retracement level of the March-August-rally crossing at $1711.10 is the next downside target. If February renews the rally off November's low, the 50-day moving average crossing at $1882.60 is the next upside target. First resistance is the 50-day moving average crossing at $1882.60. Second resistance is November's high crossing at $1973.30. First support is November's low crossing at $1767.20. Second support is the 50% retracement level of the March-August-rally crossing at $1711.10.

March silver closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below last-Monday's low crossing at 23.630 would signal that a short-term top has been posted. If March renews the rally off November's low, November's high crossing at 26.270 is the next upside target. First resistance is last-Tuesday's high crossing at 25.015. Second resistance is November's high crossing at 26.270. First support is November's low crossing at 21.960. Second support is the 50% retracement level of the March-August-rally crossing at 21.148.

March copper closed lower on Monday following last-Friday's downside reversal thereby increasing the odds that a short-term top is in or is near. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are overbought but are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 340.89 would signal that a short-term top has been posted. If March extends the rally off March's low, monthly resistance crossing at 361.26 is the next upside target. First resistance is last-Friday's high crossing at 362.45. Second resistance is monthly resistance crossing at 361.26. First support is the 20-day moving average crossing at 340.89. Second support is the 50-day moving average crossing at 322.00.



 
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#symbolnamelastnet%volumescoretriangles 
1. QCL.N21 CRUDE OIL JULY 2021 46.82 -0.24 -0.51% 18,555 +100    Entry Signal
2. HO.J21 NY HARBOR ULSD HEATING OIL Apr 2021 1.4616 +0.0166 +1.38% 9,845 +100    Entry Signal
3. QBZ.M21 BRENT CRUDE OIL LAST DAY JUNE 2021 50.11 +0.38 +0.76% 8,964 +100    Entry Signal
4. BZ.M21 CRUDE OIL BRENT LAST DAY Jun 2021 50.11 +0.38 +0.88% 8,879 +100    Entry Signal
5. BZ.Z21 CRUDE OIL BRENT LAST DAY Dec 2021 49.45 +0.41 +0.93% 8,393 +100    Entry Signal
6. QCL.H21 CRUDE OIL Mar 2021 47.34 +0.47 +1.00% 6,763 +100    Entry Signal
7. HO.K21 NY HARBOR ULSD HEATING OIL May 2021 1.4629 +0.0161 +1.32% 6,004 +100    Entry Signal
8. QHO.H21 NEW YORK HARBOR ULSD MARCH 2021 1.4416 -0.0024 -0.17% 5,513 +100    Entry Signal
9. QRB.M21 RBOB GASOLINE Jun 2021 1.4622 -0.0079 -0.54% 4,439 +100    Entry Signal
10. GF.F21 FEEDER CATTLE Jan 2021 139.950 +0.225 +0.17% 4,258 +100    Entry Signal

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