Gold rose on Wednesday after comments from Federal Reserve Chair Janet Yellen curbed speculation that U.S. interest rates would rise more than once this year. In testimony for delivery to Congress, Yellen said the Fed would not need to lift rates all that much further to reach current low estimates of the neutral fed funds rate. That weighed on the dollar and …
Mid-week Technical Observations: Soybean Complex
September Soybeans Prices get a touch slippy after they fail to hold above 1031.6, yesterday’s hanging-man candle’s body low. This scenario was covered in Tuesday’s posting. Contract trades lower to 1015.4 before recovering to settle at 1025.2. A continued hold below 1031.6 opens the door for some liquidating pressure. A violation of today’s lows will break speed support …
USDA grains down, Meats limit up
Good afternoon, I hope some of you got a chance to market some of last years crop on this corn rally up at 1st of 3 sell level 415 a bu. This is an orange line, olives are above. If the market is going to top like yesterday these will be your levels but that is my opinion. You’ll see …
Livestock Report
Live Cattle The August Live Cattle contract opened (113.85) at the 200 DMA (113.975) on Tuesday, July 11, 2017 and dipped down to the session low (113.40) before moving higher for the remainder of the day. The rally took price to 115.425, which is right at moving average resistance. The 8 DMA is at 115.35 and the 13 DMA is …
Daily Gold Report
Gold futures have found a temporary bottom this week so far on two fronts.First the news cycle is awash with political headlines concerning the Trump administration election ties with Russia and secondly ahead of a two day Congressional testimony on the economy from Fed Chair Janet Yellen. Gold’s bounce though has been weak as August futures are only up $5.00 …
Hang’ Em High: Soybean Complex
September Soybeans Let’s consider the possible implications of an apparent daily hanging-man candle in the soybean market. A hanging man is a bearish pattern that forms at the end of an uptrend. It is created when there is a significant sell-off near the market open, but buyers are able to push market back up so that …
Early Week Technicals and Wave Structure: Soybean Complex
September Soybeans No slowing down this market as beans gap up from Friday’s closing levels to 1015 posting a shaven bottom low ( low at open ). Prices press higher during session extending thru .786 retracement level to 1034.4 then easing slightly to finish at 1030. If contract continues rising from here it will most likely target 1046 …
Wheat, Hogs Soy- Events live. 1st time ever’s
mASSIVE sUMMER DROUGHT PLAYING OUT NOW HOGS- LIVE SALE POSTED last week in Oct. Beans- hit $9.07 and now in parabolic up move as happened across board last 18 months after these conditions post. Look at how the volume at this olive line, not only might be the biggest ever, but also after a diamond on top. 100,000 wheat biggest in ??? Pretty …
Weekly Gold Report
Gold futures were under assault again this week as August futures lost $32.60 for the week while the front month September silver contraxct lost a whopping $1.20 as heavy selling dominated in this holiday shortened week. Since reaching a yearly high up at 1297.7, gold has lost six percent in the last month while at the same time falling for …
End of Week Wave Analysis: Soybean Complex
September Soybeans Last day of the holiday week saw beans opening steady before pressing higher to first target price at 1003. Contract refuses to back off and rallies into the close to finish at 1006.2 just off highs posted at 1008.6. Sizable week range of over 50 cents expands average ATR readings of 29 and finishes in belt-hold …