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Currency comment 6/20
Over the last week the U.S. dollar has risen moderately. During the same period foreign currencies have drifted lower. The currency that has traders watching closely is the British pound (the oldest world currency still in use at 1200 years). The main reason for the traders interest is the Brexit negotiations which began this week. Whether we see a soft …
Crude oil continues to slide
Plentiful Supply Crude oil took another move down on Tuesday. Crude closed on a seven month low, in anticipation of a limited draw down in supply. The August crude futures contract was down over 2% , flirting with the $43.00 per barrel level. OPEC’s agreed upon production caps don’t seem to have the market players concerned about supply at …
Soybean Complex: A Look at What’s Next
July Soybeans After rejecting off inner resistance line mentioned in yesterday’s post soybeans continued retreat holding up at 926.0. Was that peak the termination of an intermediate iv wave now giving way to a v wave decline? Structure seems unclear at this point. I believe tomorrow will tell the story. Continued pressure looks to take out last weeks …
Crude Oil: Still Slippery
I posted last week with crude trading around 46 that we seemed destine to take out the lows established on April 5th of this year. This optioned stemmed from the believe that were in the midst of an unfolding C wave decline to finish a complex W-X-Y correction. A series of impulsive moves seems to be in place leading me …
Soybean Complex: Early Week Action
July Soybeans In Monday’s session prices managed to rise above weekly candle body high of 942.2 posting a shadow (wick) extreme to 947.4 inner resistance line touched upon in last posting. As suggested, level turns back advance as prices retreat to finish roughly unchanged for the day. For those of you who have followed along with any of …
Ag
The markets again traded both sides today. The oil share was the looser as beans and meal were close to unchanged. The weather has been very ideal of late. However for some reason commentaries are all focused on the what ifs. What if it turns hot and dry in july ? Till then it is almost ideal. Let the market rally …
Futures Day Trading Signals (Monday June 19, 2017)
Futures Day Trading Signals (Tuesday June 20, 2017) Author: Windy City Jim 312-948-9456 NEVER RISK MORE THAN YOU CAN AFFORD TO LOSE. CALL FOR RECOMMENDATIONS ON PROTECTIVE STOPS. SEE FULL DISCLAIM ON FUTURES TRADING AT THE BOTTOM. WE ONLY ENTER THE MARKET IF THE PRICE HITS THE BUY OR SELL POINT BUY SIGNAL Commodity : July Soybeans Previous Closing Price : 937 3/4 …
Daily Gold Report
August gold futures fell yet again Monday and below key moving averages including the 100 day and 200 day moving average. As stock indices continue to make new all time highs while the greenback slowly continues its post Fed meeting advance, investors are slowly being drawn away from traditional safe havens like gold and silver. A few weeks prior when …
Soybean Complex: Early Weekly Outlook
Soybeans Of most note in the July Soybeans is the weekly candle formation in place currently signifying a potential hanging man. Price holding below small candle body of 94.20-939.0 threatens to lean on contract. Could this be the commencement of the fifth wave I been looking for. Structure at the moment is unclear. First downside would …