Live Cattle The October Live Cattle contract was slammed at the open on Wednesday, August 9, 2017, and then traded down to test support at 108.675, making the early low at 108.625. It spent the next 3 hours consolidating at the low before breaking down and nearly going down limit. The low for the day is 107.875 and the session …
Daily Gold Report
Gold hit a near two-month peak on Wednesday, after North Korea said it is considering an attack on the U.S. Pacific territory of Guam and U.S. president Donald Trump boasted of the strength of the American nuclear arsenal. The tensions rattled through global markets, sending investors out of equities and into the safety of the yen, Swiss franc, and government debt. …
Triangulating: September Crude Oil
September Crude Oil The oil contract has not of yet broken out of what I am labeling a (iv) wave triangle formation. The trigger points on the upside are the 49.83 potential (d) wave high. A violation here should bring in a wave of upside action targeting intermediate resistance zone of roughly 51. Overhead surge level comes in …
Stable?: Focus September Soybeans
September Soybeans In today’s action the market failed to hold above the 971 level and instead slipped to test lower speed-line support just under 961 posting a low at 960.2 before rising to settle at 966. Tomorrow beans will have to again deal with the 971-973 level before it gains any footing. If so they’ll attempt to challenge …
Livestock Report
Live Cattle The October Live Cattle contract broke down through Monday’s low on Tuesday, August 8, 2017, trading down to 110.175 and ending the session near the low at 110.40. It closed below the 110.80 support level and the next support level to challenge is the April 5th low at 108.675. Resistance is at 112.425 and 113.70. The failure to …
Not As Simple as A-B-C: September Crude Oil
Last week I wrote of an observed a-b-c correction unfolding. This turned out to be incorrect as the market has instead chopped around in sideways action to be forming what appears to be a (iv) wave triangle. If the pullback from today’s high of 49.79 is to become the final (e) in the formation it will have to hold up …
Unclear Structure: Focus September Soybeans
September Soybeans Analyzing the structural nature of the advance stemming from the lows of last week it is difficult for me to label it as impulsive. As always I will employ all technical tools to gain any insight on to which direction the contract is likely to move. In today action the market posted a high just under …
Lines, Olives; Dow, Grains, Bonds, Notes, HOGS LIVE also.
If a chart speaks 1,000 words this is a mouthful for clients that trade anything on the planet as denoted in this am’s charts. I think this is the type of ‘entertainment that is worth admission here at Walsh Trading. See am voice comment Now is the time (to get the account open if this appeals to you with these …
Livestock Report
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 …