Sector Analysis and Key Events for Wednesday

INO.com  INO Morning Markets Report

Is this $4 stock our next ten bagger?

This stock checks all of my boxes for explosive growth. It's sitting on game-changing medical technology set to revolutionize how we live AND it's been fast-tracked for FDA approval. The icing on the cake? It has little to no competition.
Summary
The Dow Future has slid 57 points to 30904. The US Dollar Index advanced 0.158 points to 90.251. Gold has slid 4.450 dollars to 1855.325. Silver is falling 0.1925 dollars to 25.3450. The Dow Industrials advanced 60.00 points, at 31068.69, while the S&P 500 climbed 1.58 points, last seen at 3801.19. The Nasdaq Composite moved up 36.00 points to 13072.43. Streaming charts of these markets are available at MarketClub

Blog Postings and Videos
A Poisoned Silver Arrow
Tuesday Jan 12th

Is More Stimulus A Slam Dunk?
Monday Jan 11th

Will 2021 Be The Year For Cannabis Stocks?
Sunday Jan 10th

Key Events for Wednesday

7:00 AM ET. MBA Weekly Mortgage Applications Survey

Composite Idx (previous 827.2)

Composite Idx, W/W% (previous +1.7%)

Purchase Idx-SA (previous 313.8)

Purchase Idx-SA, W/W% (previous -1.6%)

Refinance Idx (previous 3917.6)

Refinance Idx, W/W% (previous +3.0%)

8:30 AM ET. December CPI

CPI, M/M% (expected +0.4%; previous +0.2%)

Core CPI, M/M% (expected +0.2%; previous +0.2%)

Energy Idx, M/M% (previous +0.4%)

Food Idx, M/M% (previous -0.1%)

Real Avg Wkly Pay-Infla Adj, M/M% (previous +0.1%)

CPI, Y/Y% (expected +1.3%; previous +1.2%)

Core Annual, Y/Y% (expected +1.7%; previous +1.6%)

8:30 AM ET. December Real Earnings

10:00 AM ET. December Online Help Wanted Index

10:30 AM ET. EIA Weekly Petroleum Status Report

Crude Oil Stocks (Bbl) (previous 485.459M)

Crude Oil Stocks, Net Chg (Bbl) (previous -8.01M)

Gasoline Stocks (Bbl) (previous 241.081M)

Gasoline Stocks, Net Chg (Bbl) (previous +4.519M)

Distillate Stocks (Bbl) (previous 158.419M)

Distillate Stocks, Net Chg (Bbl) (previous +6.39M)

Refinery Usage (previous 80.7%)

Total Prod Supplied (Bbl/day) (previous 17.054M)

Total Prod Supplied, Net Chg (Bbl/day) (previous -2.263M)

2:00 PM ET. U.S. Federal Reserve Beige Book

2:00 PM ET. December Monthly Treasury Statement of Receipts & Outlays of the U.S. Govt

2:00 PM ET. SEC Closed Meeting



 
Currencies Snapshot
Symbol Last Change %
US DOLLAR INDEX 90.251 +0.158 +0.18%
Invesco DB US Dollar Index 24.28 -0.14 -0.55%
US Dollar/Canadian Dollar 1.272695 +0.000925 +0.07%
Euro/US Dollar 1.21721 -0.00368 -0.30%
JAPANESE YEN Jan 2021 0.009617 -0.000022 -0.23%
SWISS FRANC Mar 2021 1.1278 -0.0022 -0.20%
US Dollar/Hong Kong Dollar 7.753920 -0.000005 -0.00%
CURRENCIES:http://quotes.ino.com/exchanges/?c=currencies"

The March Dollar was higher in overnight trading. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off last-Wednesday's low, the 50-day moving average crossing at $91.16 is the next upside target. If March renews the decline off November's high, monthly support crossing at $88.15 is the next downside target. First resistance is the December 21st high crossing at $90.95. Second resistance is the 50-day moving average crossing at $91.16. First support is last-Wednesday's low crossing at $89.16. Second support is monthly support crossing at $88.15.

The March Euro was steady to slightly 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off last-Wednesday's high, the 50-day moving average crossing at $120.77 is the next downside target. If March renews the rally off November's low, the 62% retracement level of the 2018-2020-decline crossing at $125.38 is the next upside target. First resistance is last-Wednesday's high crossing at $123.68. Second resistance is the 62% retracement level of the 2018-2020-decline crossing at $125.38. First support is the 50-day moving average crossing at $120.77. Second support is the November 23rd low crossing at $118.33.

The March British Pound was steady to slightly higher overnight. The low-range overnight trade sets the stage for a steady to slightly higher opening when the day session beings trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March renews the rally off September's low, the February-2019 high crossing at 1.3728 is the next upside target. Closes below Monday's low crossing at 1.3456 would signal that a short-term top has been posted while opening the door for additional weakness near-term. First resistance is last-Monday's high crossing at 1.3710. Second resistance is the February-2019 high crossing at 1.3728. First support is Monday's low crossing at 1.3456. Second support is the 50-day moving average crossing at 1.3387.

The March Swiss Franc was steady to slightly 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 neutral to bearish signaling that a short-term top might be in or is near. Closes below the December 28th low crossing at 1.1241 would signal that a short-term top has been posted. If March renews the rally off November's low, the 75% retracement level of the 2018-2020-decline crossing at 1.1540 is the next upside target. First resistance is last-Wednesday's high crossing at 1.1441. Second resistance is the 75% retracement level of the 2018-2020-decline crossing at 1.1540. First support is the December 28th low crossing at 1.1241. Second support is the 50-day moving average crossing at 1.1187.

The March Canadian Dollar was lower overnight. The mid-range trade sets the stage for a steady to lower opening when the 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 $77.57 would signal that a short-term top has been posted. If March renews this winter's rally, the 87% retracement level of the 2018-2020-decline crossing at $80.50 is the next upside target. First resistance is last-Wednesday's high crossing at $79.19. Second resistance is the 87% retracement level of the 2018-2020-decline crossing at $80.50. First support is the 50-day moving average crossing at $77.57. Second support is the December 21st low crossing at $77.21.

The March Japanese Yen 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off last-Wednesday's high, December's low crossing at 1.0956 is the next downside target. First resistance is last-Wednesday's high crossing at 0.0975. Second resistance is the 87% retracement level of the February-March rally crossing at 0.0981. First support is December's low crossing at 0.0956. Second support is the November's low crossing at 0.0948.



 
Energy Snapshot
Symbol Last Change %
CRUDE OIL Feb 2021 53.40 +0.11 +0.28%
NY HARBOR ULSD HEATING OIL Feb 2021 1.6031 +0.0034 +0.29%
NATURAL GAS Feb 2021 2.773 +0.041 +1.30%
RBOB GASOLINE Feb 2021 1.5646 +0.0076 +0.69%
Invesco DWA Energy Momentum ETF 21.5732 +1.0244 +8.08%
United States Gasoline 26.7900 +0.6444 +3.47%

ENERGIES

March crude oil was steady to slightly higher overnight as it extends the rally off November's low. The low-range overnight trade sets the stage for a steady to slightly 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 March extends the rally off November's low, the 75% retracement level of the 2018-2020-decline crossing at $57.64 is the next upside target. Closes below the 20-day moving average crossing at $49.45 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at $53.94. Second resistance is the 75% retracement level of the 2018-2020-decline crossing at $57.64. First support is the 10-day moving average crossing at $50.74. Second support is the 20-day moving average crossing at $49.45.

March heating oil 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 are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off November's low, the 50% retracement level of the 2018-2020-decline crossing at $168.80 is the next upside target. Closes below the 20-day moving average crossing at $151.15 would signal that a short-term top has been posted. First resistance is the overnight high crossing at $161.74. Second resistance is the 50% retracement level of the 2018-2020-decline crossing at $168.43. First support is the 10-day moving average crossing at $153.79. Second support is the 20-day moving average crossing at $151.15.

March unleaded gas was steady to slightly higher overnight as it extends the rally off November's low. The low-range overnight trade sets the stage for a steady to slightly 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 March resumes the rally off November's low, the 75% retracement level of the 2018-2020-decline crossing at $170.66 is the next upside target. Closes below the 20-day moving average crossing at $142.56 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at $157.40. Second resistance is the 75% retracement level of the 2018-2020-decline crossing at $170.66. First support is the 10-day moving average crossing at $147.80. Second support is the 20-day moving average crossing at $142.56.

March Henry natural gas was higher overnight and trading above the 50-day moving average crossing at 2.713. The high-range overnight trade 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 March extends the rally off December's low, the November 20th high crossing at 2.910 is the next upside target. Closes below the 20-day moving average crossing at 2.611 would signal that a short-term top has been posted. First resistance resistance is Tuesday's high crossing at 2.835. Second resistance is the November 30th high crossing at 2.910. First support is last-Monday's gap crossing at 2.537. Second support is the December 28th low crossing at 2.268.



 
Food Snapshot
Symbol Last Change %
COFFEE MARCH 2021 123.05 +1.65 +1.36%
SUGAR #11 WORLD MARCH 2021 15.62 +0.16 +1.03%
SUGAR #16 MARCH 2021 28.6 +0.1 +0.35%
ORANGE JUICE - A MARCH 2021 122.30 +0.05 +0.04%
IPATH SER B BLOOMBERG SUGAR SUBINDEX TOTAL RETURN 46.4338 -0.7594 -1.72%
IPATH SER B BLOOMBERG SOFTS SUBINDEX TOTAL RETURN 42.640 -0.295 -0.76%

FOOD & FIBER

March coffee closed lower on Tuesday. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are oversold and are poised to turn neutral to bullish with additional strength. Closes above the 20-day moving average crossing at 12.44 would signal that a short-term low has been posted. Closes below the 50-day moving average crossing at 11.92 would open the door for additional weakness near-term.

March cocoa closed higher on Tuesday. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March renews the decline off November's high, the November 16th gap crossing at 23.95. Closes above last-Monday's high crossing at 26.61 would signal that a short-term low has been posted.

March sugar closed lower on Tuesday. The low-range close set the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 15.10 would signal that a short-term top has been posted. If March renews the rally off December's low, weekly resistance crossing at 17.23 is the next upside target.

March cotton closed higher on Tuesday. The high-range close sets the stage for a steady to higher 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 March extends the rally off April's low, monthly resistance crossing at 84.47 is the next upside target. Closes below the 20-day moving average crossing at 77.63 would confirm that a short-term top has been posted.



Is this $4 stock our next ten bagger?

This stock checks all of my boxes for explosive growth. It's sitting on game-changing medical technology set to revolutionize how we live AND it's been fast-tracked for FDA approval. The icing on the cake? It has little to no competition.


 
Grains Snapshot
Symbol Last Change %
CORN Mar 2021 539.25 +22.00 +5.36%
OATS Mar 2021 365.25 +3.25 +1.09%
WHEAT Mar 2021 678.75 +14.00 +2.30%
Teucrium Corn Fund ETV 16.810 +1.015 +7.55%
IPATH SER B BLOOMBERG GRAINS SUBINDEX TOTAL RETURN 58.99 +2.85 +6.03%
ELEMENTS Linked to the ICE BofAML Commodity Index eXtra Grains Total Return 4.050 +0.505 +15.81%
SOYBEANS Jan 2021 1432.50 +5.25 +0.48%
SOYBEAN (MINI) Jan 2021 1399 +1 +0.09%
SOYBEAN MEAL Jan 2021 471.2 -0.8 -0.21%
Teucrium Soybean Fund ETV 21.0000 +0.6700 +4.12%

GRAINS

March corn gapped up and was sharply higher overnight as it extends the rally off August's low. The high-range close sets the stage for a steady to higher opening when the day sessions 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 April's low, the 50% retracement level of the 2012-2019-decline on the monthly continuation chart crossing at $5.72 1/4 is the next upside target. Closes below the 20-day moving average crossing at $4.69 3/4 would signal that a short-term top has been posted. First resistance is the overnight high crossing at $5.39. Second resistance is the 50% retracement level of the 2012-2019-decline on the monthly continuation chart crossing at $5.72 1/4. First support is the 10-day moving average crossing at $4.97. Second support is the 20-day moving average crossing at $4.69 3/4.

March wheat was higher overnight as it extends the rally off August's low. The high-range close sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March resumes the rally off December's low, the 62% retracement level of the 2012-2016-decline on the monthly continuation chart crossing at $7.34 1/4 is the next upside target. Closes below the 20-day moving average crossing at $6.30 3/4 would signal that a short-term top has been posted. First resistance is the overnight high crossing at $6.75 3/4. Second resistance is the 62% retracement level of the 2012-2016-decline on the monthly continuation chart crossing at $7.34 1/4. First support is the 20-day moving average crossing at $6.30 3/4. Second support is the 50-day moving average crossing at $6.11 3/4.

March Kansas City wheat was higher overnight as it extends the rally off August's low. The high-range close 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 August's low, the December-2014 high on the monthly continuation chart crossing at $7.05 3/4 is the next upside target. Closes below the 20-day moving average crossing at $5.91 1/4 would confirm that a short-term top has been posted. First resistance is the October-2018 high crossing at $6.38 1/2. Second resistance is the December-2014 high crossing at $7.05 3/4. First support is the 20-day moving average crossing at $5.91 1/4. Second support is the 50-day moving average crossing at $5.71 1/2.

March Minneapolis wheat was higher overnight as it extends the rally off December's low. The high-range close 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 March extends the rally off December's low, the May-2018 high on the monthly continuation chart crossing at $6.51 is the next upside target. Closes below the 20-day moving average crossing at crossing at $5.89 3/4 would signal that a short-term top has been posted. First resistance is the overnight high crossing at $6.34 3/4. Second resistance is the May-2018 high on the monthly continuation chart crossing at $6.51. First support is the 10-day moving average crossing at crossing at $6.08. Second support is the 20-day moving average crossing at $5.89 3/4.

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

March soybeans were higher overnight. The mid-range close 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 March extends the rally off August's low, the 75% retracement level of the 2012-2019-decline crossing at $15.39 1/4 is the next upside target. Closes below the 20-day moving average crossing at $12.98 1/2 would signal that a short-term top has been posted. First resistance is the overnight high crossing at $14.36 1/2. Second resistance is the 75% retracement level of the 2012-2019-decline crossing at $15.39 1/4. First support is the 10-day moving average crossing at $13.59. Second support is the 20-day moving average crossing at $12.98 1/2.

March soybean meal was higher overnight as it extends the rally off August's low. The mid-range close 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 March extends the rally off August's low, monthly resistance crossing at $478.40 is the next upside target. Closes below the 20-day moving average crossing at $424.30 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at $471.40. Second resistance is monthly resistance crossing at $478.40. First support is the 10-day moving average crossing at $440.40. Second support is the 20-day moving average crossing at $424.30.

March soybean oil was higher overnight as it consolidates some of the decline off last-Wednesday's high. The mid-range close sets the stage for a steady to higher opening when the 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 20-day moving average crossing at 41.52 would confirm that a short-term top has been posted. If March resumes the rally off October's low, the March 2014 high on the monthly continuation chart crossing at 45.05 is the next upside target. First resistance is last-Wednesday's high crossing at 44.69. Second resistance is the March 2014 high on the monthly continuation chart crossing at 45.05. First support is the 20-day moving average crossing at 41.52. Second support is the 50-day moving average crossing at 38.73.



 
Indexes Snapshot
Symbol Last Change %
Dow Jones Industrial Average 31068.69 +60.00 +0.22%
NASDAQ Composite 13072.43 +36.00 +0.32%
S&P 500 3801.19 +1.58 +0.05%
SPDR S&P 500 379.11 +0.42 +0.12%
iShares Russell 2000 ETF 211.28 +3.74 +2.33%

U.S. STOCK INDEXES

The March NASDAQ 100 was steady to lower overnight as it extends this week's decline. The low-range trade sets the stage for a steady to lower opening when the day 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 last-Wednesday's low crossing at 12,491.25 would confirm that a short-term top has been posted. If the NASDAQ 100 resumes the rally off November's low into uncharted territory, upside targets will be hard to project. First resistance is last-Friday's high crossing at 13,125.00. Second resistance is unknown. First support is last-Wednesday's low crossing at 12,491.25. Second is the 50-day moving average crossing at 12,368.96.

The March S&P 500 was lower overnight. The low-range overnight 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 but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends this year's rally into uncharted territory, upside targets will be hard to project. Closes below the December 21st low crossing at 3637.20 would confirm that a short-term top has been posted. First resistance is last-Friday's high crossing at 3817.50. Second resistance is unknown. First support is the December 21st low crossing at 3637.20. Second support is the 50-day moving average crossing at 3628.61.



 
Interest Snapshot
Symbol Last Change %
T-BONDS Mar 2021 168.43750 +0.09375 +0.05%
iShares Floating Rate Bond ETF 50.757 +0.002 0.00%
5 YEAR T-NOTES Mar 2021 125.492188 +0.007813 +0.01%
ULTRA T-BONDS Mar 2021 204.43750 +0.18750 +0.09%
Invesco Senior Loan Portf 22.435 +0.075 +0.35%

INTEREST RATES

March T-bonds were steady to slightly higher overnight as it consolidates some of this month's decline. The low-range overnight trade sets the stage for a steady to slightly 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 the November high, the 50% retracement level of the 2018-2020-rally on the monthly continuation chart crossing at 164-04 is the next downside target. Closes above the 20-day moving average crossing at 171-16 would signal that a low has been posted. First resistance is the 10-day moving average crossing at 170-09. Second resistance is the 20-day moving average crossing at 171-16. First support is Tuesday's low crossing at 167-11. Second support is the 50% retracement level of the 2018-2020-rally on the monthly continuation chart crossing at 164-04.

March T-notes were steady to slightly higher overnight as it consolidates some of this month's decline. The low-range overnight trade 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 this month's decline, monthly support crossing at 134.298 is the next downside target. Closes above the 20-day moving average crossing at 137.171 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 137.060. Second resistance is the 20-day moving average crossing at 137.171. First support is Tuesday's low crossing at 136.010. Second support is monthly support crossing at 134.298.



 
Livestock Snapshot
Symbol Last Change %
FEEDER CATTLE Jan 2021 133.075 -3.050 -2.25%
LEAN HOGS Feb 2021 68.350 -0.150 -0.22%
LIVE CATTLE Feb 2021 112.625 -0.575 -0.52%
IPATH SER B BLOOMBERG LIVESTOCK SUBINDEX TOTAL RETURN 34.240 +0.030 +0.09%

LIVESTOCK

February hogs closed up $0.10 at $68.58.

February hogs closed higher on Tuesday as it consolidates some of this month's decline. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $67.75 would confirm that a short-term top has been posted. If February renews the rally off December's low, the 87% retracement level of the 2019-2020-decline crossing at $73.83 is the next upside target. First resistance is last-Monday's high crossing at $72.00. Second resistance is the 87% retracement level of the 2019-2020-decline crossing at $73.83. First support is the 20-day moving average crossing at $67.75. Second support is the 50-day moving average crossing at $66.85.

February cattle closed down $0.70 at $112.70

February cattle closed lower on Tuesday. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible. If February extends the decline off December's high, December's low crossing at $110.55 is the next downside target. If February resumes the rally off October's low, September's high crossing at $116.63 is the next upside target. First resistance is December's high crossing at $116.30. Second resistance is September's high crossing at $116.63. First support is January's low crossing at $111.35. Second support is December's low crossing at $110.55. Third support is November's low crossing at $109.00.

March Feeder cattle closed down $3.10 at $133.80.

March Feeder cattle closed sharply lower on Tuesday as it renewed the decline off December's high. The low-range close sets the stage for a steady to lower opening when Wednesday's session begins trading. 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, the November 20th low crossing at $132.45 is the next downside target. Closes above the 20-day moving average crossing at $139.83 would signal that a short-term low has been posted. First resistance is December's high crossing at $143.70. Second resistance is August's high crossing at $145.30. First support is today's low crossing at $133.73. Second support is the November 20th low crossing at $132.45.



 
Metals Snapshot
Symbol Last Change %
GOLD Jan 2021 1858.6 +4.1 +0.21%
SPDR Gold Trust 174.085 +1.085 +0.61%
SILVER Jan 2021 25.545 +0.180 +0.75%
PALLADIUM Mar 2021 2403.0 -0.5 -0.02%
Direxion Daily Gold Miners Index Bear 2X Shares 19.3900 -0.2500 -1.38%
Invesco DB Precious Metals Fund 51.2703 +0.4103 +0.79%

PRECIOUS METALS

February gold was steady to slightly lower overnight. The mid-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If February extends the overnight decline, November's low crossing at $1767.20 is the next downside target. Closes above the 10-day moving average crossing at $1893.70 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at $1893.70. Second resistance is last-Wednesday's high crossing at $1962.50. First support is Monday's low crossing at $1817.10. Second support is November's low crossing at $1767.20.

March silver was 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 later this morning. 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 $25.025 would open the door for additional weakness near-term. Closes above the 10-day moving average crossing at $26.463 are needed to signal that a short-term low has been posted. First resistance is January's high crossing at $28.105. Second resistance is September's high crossing at $29.380. First support is the 50-day moving average crossing at $25.025. Second support is November's low crossing at $21.960.

March copper was 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 turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the December 23rd low crossing at 3.4780 would confirm that a short-term top has been posted. If March extends the rally off October's low, the February-2013 high on the monthly continuation chart crossing at 3.7925 is the next upside target. First resistance is last-Friday's high crossing at 3.7340. Second resistance is the February-2013 high on the monthly chart crossing at 3.7925. First support is the December 23rd low crossing at 3.4780. Second support is the 50-day moving average crossing at 3.4276.



 
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#symbolnamelastnet%volumescoretriangles 
1. ZW.H21 WHEAT Mar 2021 678.75 +14.00 +2.30% 22,646 +90    Entry Signal
2. 6M.H21 MEXICAN PESO Mar 2021 0.05012 -0.00006 -0.13% 9,333 +90    Entry Signal
3. ZM.H21 SOYBEAN MEAL Mar 2021 466.5 0.0 0.00% 8,830 +90    Entry Signal
4. HE.M21 LEAN HOGS Jun 2021 84.925 +0.875 +1.10% 7,760 +100    Entry Signal
5. ZW.K21 WHEAT May 2021 678.00 +12.50 +2.05% 7,297 +100    Entry Signal
6. ZW.N21 WHEAT Jul 2021 658.25 +8.75 +1.45% 6,519 +90    Entry Signal
7. ZM.K21 SOYBEAN MEAL May 2021 460.5 +1.2 +0.33% 3,931 +90    Entry Signal
8. HE.N21 LEAN HOGS Jul 2021 85.975 +1.025 +1.29% 3,162 +100    Entry Signal
9. @KW.N21 HARD RED WINTER WHEAT JULY 2021 637.25 +9.25 +1.47% 2,800 +100    Entry Signal
10. HE.Q21 LEAN HOGS Aug 2021 85.925 +1.175 +1.49% 2,629 +100    Entry Signal

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