Live Cattle The October Live Cattle contract opened (113.825) lower fell on Monday August 7, 2017, and then collapsed, trading down limit and ending the session at the lows. The rejection at the 200 DMA (115.325) on Thursday fueled the breakdown and the October contract has now made a new low (111.10) for the move, trading below the July 31st …
Daily Gold Report
Gold prices traded within a two sided narrow range to begin the week on Monday as the daily range from low to high was only $4.30 cents. Gold for December delivery finished one tick higher to settle at 1264.7. September silver finished uncharged at 16.25. For the day Gold couldn’t gain any footing failing to gain support from a weaker …
Weekly Gold Report
Gold fell on Friday after hitting a seven-week high earlier this week, as the dollar rose from multi-month lows, after monthly U.S. non-farm payrolls data was better-than-expected. Data from the U.S. Department of Labor showed the U.S. added 209 K jobs in July while the unemployment rate was 4.3 percent. Economists surveyed by Reuters had expected the report to show growth …
No Footing: Focus September Soybeans
September Soybeans The week, posting a 50 cent range, closes near the low end at 952.2. A very non impressive session unfolds in today’s action with the contract failing to show any signs of stabilizing. The wave structure developing from the highs at roughly 1037 appears non-impulsive, however, it continues to point lower. Early support comes in at +/-945-943. …
Weekend Wrap Grains
I was walking to the train this am and my brain was thinking first frost. It is just the way a real trader brain works in my opinion. I am always early which can be detrimental because a trader has to guard but an asset to a customer. BEANS CORN AND BEAN WHEAT are both at even money which can …
Livestock Report
Live Cattle The October Live Cattle contract opened (114.95) strong and tested resistance at the 200 DMA (115.175) on Thursday August 3, 2017, trading up to the high (115.60) of the day early in the trading session. The rally couldn’t be sustained and price grinded lower and made the low (114.425) of the day at mid-session. A resurgence in effort …
Corrective Wave Decline: October Crude Oil
October Crude Oil It appears that we have established a series of impulsive advancements stemming from the lows at roughly 42.50. Currently an a-b-c corrective decline seems to be in motion. A slip to 48.50-48.30 should set projected (c) wave extreme. If this interpretation is accurate the (c) wave low should not overlap the wave (i) price …
Critical Level: Focus September Soybeans
September Soybeans The bean market dipped below support level of 956-954 to post low of 949 before rebounding to finish at 954. Projections for the decline seen after the the high established at 1037.4 have been achieved and slightly overshot. We now rest at the critical level I discussed in yesterday’s post. It’s pretty dicey here with …
Soybeans-Lack of heat, except if long, Wheat Live
Perfect growing weather from someone in the pit that was labeled a perma bull in beans. Midwest is unreal really, with cool August temps. except for all the ‘lollapalooza’ kids heading to Lake Michigan. I try to produce conditional indicators that funds use explicitly, especially when violated. This enables me to help you identify low risk high reward trades. …
Putting Up A Fight: September Soybean Complex
September Soybeans Tight range in the bean market today as the contract tries to stabilize at upper end of projected support zone. Any rally will have to contend with +/- 981 resistance level. Holding above 983 will look good. We must analyze the structure of any advance for impulsive qualities. If they exits I’d consider the recent low …