Best of the Week
Most Popular
1. Stock Markets and the History Chart of the End of the World (With Presidential Cycles) - 28th Aug 20
2.Google, Apple, Amazon, Facebook... AI Tech Stocks Buying Levels and Valuations Q3 2020 - 31st Aug 20
3.The Inflation Mega-trend is Going Hyper! - 11th Sep 20
4.Is this the End of Capitalism? - 13th Sep 20
5.What's Driving Gold, Silver and What's Next? - 3rd Sep 20
6.QE4EVER! - 9th Sep 20
7.Gold Price Trend Forecast Analysis - Part1 - 7th Sep 20
8.The Fed May “Cause” The Next Stock Market Crash - 3rd Sep 20
9.Bitcoin Price Crash - You Will be Suprised What Happens Next - 7th Sep 20
10.NVIDIA Stock Price Soars on RTX 3000 Cornering the GPU Market for next 2 years! - 3rd Sep 20
Last 7 days
Gold Price Setting Up Just Like Before COVID-19 Breakdown – Get Ready! - 27th Sep 20
UK Coronavirus 2nd Wave SuperMarkets Panic Buying 2.0 Toilet Paper , Hand Sanitisers, Wipes... - 27th Sep 20
Gold, Dollar and Rates: A Correlated Story - 27th Sep 20
WARNING RTX 3080 AIB FLAWED Card's, Cheap Capacitor Arrays Prone to Failing Under Load! - 27th Sep 20
Boris Johnson Hits Coronavirus Panic Button Again, UK Accelerting Covid-19 Second Wave - 25th Sep 20
Precious Metals Trading Range Doing It’s Job to Confound Bulls and Bears Alike - 25th Sep 20
Gold and Silver Are Still Locked and Loaded… Don't be Out of Ammo - 25th Sep 20
Throwing the golden baby out with the covid bath water - Gold Wins - 25th Sep 20
A Look at the Perilous Psychology of Financial Market Bubbles - 25th Sep 20
Corona Strikes Back In Europe. Will It Boost Gold? - 25th Sep 20
How to Boost the Value of Your Home - 25th Sep 20
Key Time For Stock Markets: Bears Step Up or V-Shaped Bounce - 24th Sep 20
Five ways to recover the day after a good workout - 24th Sep 20
Global Stock Markets Break Hard To The Downside – Watch Support Levels - 23rd Sep 20
Beware of These Faulty “Inflation Protected” Investments - 23rd Sep 20
What’s Behind Dollar USDX Breakout? - 23rd Sep 20
Still More Room To Stock Market Downside In The Coming Weeks - 23rd Sep 20
Platinum And Palladium Set To Surge As Gold Breaks Higher - 23rd Sep 20
Key Gold Ratios to Other Markets - 23rd Sep 20
Watch Before Upgrading / Buying RTX 3000, RDNA2 - CPU vs GPU Bottlenecks - 23rd Sep 20
Online Elliott Wave Markets Trading Course Worth $129 for FREE! - 22nd Sep 20
Gold Price Overboughtness Risk - 22nd Sep 20
Central Banking Cartel Promises ZIRP Until at Least 2023 - 22nd Sep 20
Stock Market Correction Approaching Initial Objective - 22nd Sep 20
Silver Bulls Will Be Handsomely Rewarded - 21st Sep 20
Fed Will Not Hike Rates For Years. Gold Should Like It - 21st Sep 20
US Financial Market Forecasts and Elliott Wave Analysis Resources - 21st Sep 20
How to Avoid Currency Exchange Risk during COVID - 21st Sep 20
Crude Oil – A Slight Move Higher Has Not Reversed The Bearish Trend - 20th Sep 20
Do This Instead Of Trying To Find The “Next Amazon” - 20th Sep 20
5 Significant Benefits of the MT4 Trading Platform for Forex Traders - 20th Sep 20
A Warning of Economic Collapse - 20th Sep 20
The Connection Between Stocks and the Economy is not What Most Investors Think - 19th Sep 20
A Virus So Deadly, The Government Has to Test You to See If You Have It - 19th Sep 20
Will Lagarde and Mnuchin Push Gold Higher? - 19th Sep 20
RTX 3080 Mania, Ebay Scalpers Crazy Prices £62,000 Trollers Insane Bids for a £649 GPU! - 19th Sep 20
A Greater Economic Depression For The 21st Century - 19th Sep 20
The United Floor in Stocks - 19th Sep 20
Mobile Gaming Market Trends And The Expected Future Developments - 19th Sep 20
The S&P 500 appears ready to correct, and that is a good thing - 18th Sep 20
It’s Go Time for Gold Price! Next Stop $2,250 - 18th Sep 20
Forget AMD RDNA2 and Buy Nvidia RTX 3080 FE GPU's NOW Before Price - 18th Sep 20
Best Back to School / University Black Face Masks Quick and Easy from Amazon - 18th Sep 20
3 Types of Loans to Buy an Existing Business - 18th Sep 20
How to tell Budgie Gender, Male or Female Sex for Young and Mature Parakeets - 18th Sep 20
Fasten Your Seatbelts Stock Market Make Or Break – Big Trends Ahead - 17th Sep 20
Peak Financialism And Post-Capitalist Economics - 17th Sep 20
Challenges of Working from Home - 17th Sep 20
Sheffield Heading for Coronavirus Lockdown as Covid Deaths Pass 432 - 17th Sep 20
What Does this Valuable Gold Miners Indicator Say Now? - 16th Sep 20
President Trump and Crimes Against Humanity - 16th Sep 20
Slow Economic Recovery from CoronaVirus Unlikely to Impede Strong Demand for Metals - 16th Sep 20
Why the Knives Are Out for Trump’s Fed Critic Judy Shelton - 16th Sep 20
Operation Moonshot: Get Ready for Millions of New COVAIDS Positives in the UK! - 16th Sep 20
Stock Market Approaching Correction Objective - 15th Sep 20
Look at This Big Reminder of Dot.com Stock Market Mania - 15th Sep 20
Three Key Principles for Successful Disruption Investors - 15th Sep 20
Billionaire Hedge Fund Manager Warns of 10% Inflation - 15th Sep 20
Gold Price Reaches $2,000 Amid Dollar Depreciation - 15th Sep 20
GLD, IAU Big Gold ETF Buying MIA - 14th Sep 20
Why Bill Gates Is Betting Millions on Synthetic Biology - 14th Sep 20
Stock Market SPY Expectations For The Rest Of September - 14th Sep 20
Gold Price Gann Angle Update - 14th Sep 20
Stock Market Recovery from the Sharp Correction Goes On - 14th Sep 20
Is this the End of Capitalism? - 13th Sep 20
The Silver Big Prize - 13th Sep 20
U.S. Shares Plunged. Is Gold Next? - 13th Sep 20
Why Are 7,500 Oil Barrels Floating on this London Lake? - 13th Sep 20
Sheffield 432 Covid-19 Deaths, Last City Centre Shop Before Next Lockdown - 13th Sep 20
Biden or Trump Will Keep The Money Spigots Open - 13th Sep 20
Gold And Silver Up, Down, Sideways, Up - 13th Sep 20

Market Oracle FREE Newsletter

How to Get Rich Investing in Stocks by Riding the Electron Wave

Stock, Commodities, Futures and Forex Markets Analysis 3rd February 2009

Stock-Markets / Futures Trading Feb 03, 2009 - 07:31 AM GMT

By: INO

Stock-Markets Best Financial Markets Analysis ArticleThe March NASDAQ 100 was steady to slightly higher overnight as it extended Monday's rally. Stochastics and the RSI are turning bearish signaling that sideways to lower prices are possible near-term. If March extends last Friday's decline, January's low crossing at 1132.00 is the next downside target. Closes above the 20-day moving average crossing at 1197.81 would confirm that a short-term low has been posted.


First resistance is the 20-day moving average crossing at 1197.82. Second resistance is the reaction high crossing at 1244.75. First support is Monday's low crossing at 1153.50. Second support is January's low crossing at 1132.00. The March NASDAQ 100 was up 0.75 pts. at 1189.50 as of 5:11 AM CST. Overnight action sets the stage for a steady to higher opening by March NASDAQ 100 when the day session begins later this morning.

The March S&P 500 index was lower overnight as it extends last week's decline. Stochastics and the RSI are turning bearish signaling that sideways to lower prices are possible near-term. If March extends the decline, January's low crossing at 797.00 is the next downside target. Closes above last Wednesday's high crossing at 875.50 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 833.17. Second resistance is the 20-day moving average crossing at 851.50. First support is Monday's low crossing at 806.40.

Second support is January's low crossing at 797.00. The March S&P 500 Index was down 3.50 pts. at 817.80 as of 5:13 AM CST. Overnight action sets the stage for a lower opening by the March S&P 500 index when the day session begins later this morning.

INTEREST RATES
March T-bonds were lower overnight as they consolidate some of Monday's rally but remain above support marked by the 50% retracement level of the October-December rally crossing at 126-12. 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 December's high, the 62% retracement level of the October-December rally crossing at 122-23 is the next downside target. Closes above the 20-day moving average crossing at 131-28 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 129-05. Second resistance is the 20-day moving average crossing at 131-28. First support is the 50% retracement level crossing at 126-12. Second support is last Thursday's low crossing at 126-09.

ENERGY MARKETS
March crude oil was higher overnight due to short covering as it consolidates some of Monday's decline. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near-term. If March renews January's decline, December's low crossing at 38.00 is the next downside target. Closes above last Monday's high crossing at 48.59 are needed to confirm that a short-term low has been posted. Closes above the early-January high crossing at 54.74 are needed to confirm that a trend change has taken place. First resistance is the 10-day moving average crossing at 42.68. Second resistance is the 20-day moving average crossing at 43.97. First support is Monday's low crossing at 39.83. Second support is January's low crossing at 39.11.

March heating oil was slightly higher overnight due to short covering as it consolidates some of Monday's decline. Stochastics and the RSI are turning neutral signaling that sideways to lower prices are possible near-term. If March renews January's decline, December's low crossing at 123.96 is the next downside target. Closes above the reaction high crossing at 148.13 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 139.16. Second resistance is the 20-day moving average crossing at 144.43. First support is January's low crossing at 130.39. Second support is December's low crossing at 123.96.

March unleaded gas was slightly higher overnight due to short covering as it consolidates some of Monday's decline. Stochastics and the RSI are turning bearish signaling that sideways to lower prices are possible near-term. If March extends Monday's decline, the reaction low crossing at 106.80 is the next downside target. Closes below January's low would confirm a downside breakout of the current trading range while opening the door for a possible test of December's low crossing at 87.08 later this winter. Closes above the reaction high crossing at 129.90 are needed to confirm an upside breakout of the current trading range. First resistance is the 10-day moving average crossing at 118.45. Second resistance is last Friday's high crossing at 129.90. First support is Monday's low crossing at 109.17. Second support is the reaction low crossing at 106.80.

March Henry natural gas was steady to slightly higher overnight as it extends Monday's rally above the 10-day moving average crossing at 4.534. Stochastics and the RSI are oversold but are turning neutral to bullish hinting that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 4.910 would confirm that a short-term low has been posted. If March extends the decline, monthly support crossing at 4.160 is the next downside target. First resistance is Monday's high crossing at 4.669. Second resistance is the 20-day moving average crossing at 4.910. First support is Monday's low crossing at 4.280. Second support is monthly support crossing at 4.160.

NEW! INO TV - http://tv.ino.com/ - Watch From Your Computer for Free

NEW! INO TV - http://tv.ino.com/ - Watch From Your Computer for Free

Here are the newest authors: Jack Schwager, John Murphy, Jake Bernstein, and Ron Ianieri. All experts, all well recognized, and highly trafficked by our current members. http://tv.ino.com/

CURRENCIES
The March Dollar was higher overnight as it extends the short covering rally off last week's low. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off last week's low, January's high crossing at 87.40 is the next upside target. If this resistance level is cleared, the 87% retracement level of the November-December decline crossing at 88.37 is the next upside target. Multiple closes below last week's low crossing at 84.02 are needed to confirm that the rally off December's low has come to an end. First resistance is Monday's high crossing at 86.97. Second resistance is January's high crossing at 87.40. First support is the 10-day moving average crossing at85.95. Second support is the 20-day moving average crossing at 85.22.

The March Euro was slightly higher overnight as it extends Monday's short covering rally. Stochastics and the RSI are oversold but remain bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off December's high, the 87% retracement level of the November-December rally crossing at 126.441 is the next downside target. Closes above last Wednesday's high crossing at 133.210 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 129.721. Second resistance is the 20-day moving average crossing at 131.384. First support is Monday's low crossing at 126.980. Second support is the 87% retracement level crossing at 126.441.

The March British Pound was lower overnight due to profit taking as it consolidates some of last week's rally but remains above the 10-day moving average crossing at 1.4106. Stochastics and the RSI are bullish hinting that a short-term low might be in or is near. Closes above the 20-day moving average crossing at 1.4423 are needed to confirm that a short-term low has been posted. If March renews January's decline, monthly support crossing at 1.3245 is the next downside target. First resistance is the 20-day moving average crossing at 1.4423. Second resistance is last Friday's high crossing at 1.4536. First support is the 10-day moving average crossing at 1.4106. Second support is January's low crossing at 1.3492.

The March Swiss Franc was slightly higher overnight as it consolidates some of last week's decline. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near-term. If March renews last month's decline the 87% retracement level crossing at .8370 is the next downside target. Closes above the 20-day moving average crossing at .8820 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at .8674. Second resistance is the 20-day moving average crossing at .8820. First support is the 75% retracement level crossing at .8555. Second support is broken resistance marked by the reaction high crossing at .8495.

The March Canadian Dollar was lower overnight as it extends Monday's decline below the 10-day moving average, which confirmed that a short-term top has been posted. Stochastics and the RSI are turning bullish signaling that sideways to lower prices are possible near-term. If March extends this week's decline, January's low crossing at 78.30 is the next downside target. Closes above the 20-day moving average crossing at 81.43 are needed to confirm that a short-term top has been posted. First resistance is the 10-day moving average crossing at 80.88. Second resistance is the 20-day moving average crossing at 81.43. First support is the overnight low crossing at 79.82. Second support is January's low crossing at 78.30.

The March Japanese Yen was mostly steady in overnight trading as it consolidates some of Monday's rally. However, stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at .11122 would temper the near-term friendly outlook in the market. Closes below the reaction low crossing at .10964 would greatly increase the odds that January's high marked a double top with December's high. If March renews January's rally, monthly resistance crossing at .11500 is the next upside target. First resistance is Monday's high crossing at .11275. Second resistance is January's high crossing at .11496. First support is the 20-day moving average crossing at .11122. Second support is last Wednesday's low crossing at .11019.

NEW! INO TV - http://tv.ino.com/ - Watch From Your Computer for Free

NEW! INO TV - http://tv.ino.com/ - Watch From Your Computer for Free

Here are the newest authors: Jack Schwager, John Murphy, Jake Bernstein, and Ron Ianieri. All experts, all well recognized, and highly trafficked by our current members. http://tv.ino.com/

PRECIOUS METALS
April gold was lower overnight due to profit taking as it consolidates some of last week's rally. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If April extends the rally, October's high crossing at 938.20 is the next upside target. Closes below the 20-day moving average crossing at 867.10 would confirm that a short-term top has been posted. First resistance is last Friday's high crossing at 928.20. Second resistance is October's high crossing at 938.20. First support is the 10-day moving average crossing at 895.70. Second support is the 20-day moving average crossing near 867.10.

March silver was lower overnight due to profit taking as it consolidates some of last week's rally. Stochastics and the RSI are overbought but remain neutral signaling that sideways to higher prices are possible near-term. If March extends January's rally, the 38% retracement level of last year's decline crossing at 13.376 is the next upside target. Closes below the 20-day moving average crossing at 11.502 would temper the near-term friendly outlook in the market. First resistance is last Friday's high crossing at 12.660. Second resistance is the 38% retracement level crossing at 13.376. First support is the 10-day moving average crossing at 12.033. Second support is the 20-
day moving average crossing at 11.502.

March copper was higher overnight due to light short covering as it consolidates some of Monday's decline. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-term. Closes above the 20-day moving average crossing at 149.10 would signal that a short-term low has been posted. Closes above the reaction high crossing at 163.10 are needed to confirm an upside breakout of January's trading range. Closes below the reaction low crossing at 137.30 are needed to confirm a downside breakout of January's trading range and would open the door for a possible test of December's low crossing at 125.50. First resistance is the 20-day moving average crossing at 149.10. Second resistance is the reaction high crossing at 163.10. First support is Monday's low crossing at 139.90. Second support is January's low crossing at 137.30.

FOOD & FIBER
March coffee closed higher due to short covering on Monday as it consolidated some of last Friday's decline but remains below the 10-day moving average crossing at 11.980 signaling that a short-term top has likely been posted. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are turning bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 11.699 are needed to confirm that a short-term top has been posted. If March extends this year's rally, the reaction high crossing at 12.585 is the next upside target.

March cocoa closed lower due to profit taking on Monday as it consolidated some of last week's rally but remains above broken resistance marked by December's high crossing at 27.18. The mid-range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI are neutral signaling that sideways to higher prices are possible near-term. If March extends last week's rally, the reaction high crossing at 29.00 is the next upside target. Closes below the 20-day moving average crossing at 25.97 would temper the near-term friendly outlook in the market.

March sugar closed higher due to short covering on Monday as it extends last week's trading range. The high-range close set the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are overbought and turning bearish hinting that a short-term top might be in or is near. Multiple closes below the 20-day moving average crossing at 12.29 are needed to confirm that a short-term top has been posted. If March extends the rally off December's low, the 50% retracement level of the August- October decline crossing at 13.14 is the next upside target.

March cotton closed higher on Monday due to short covering as it consolidated some of last week's decline. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI have turned bearish hinting that a short- term top might be in or is near. Closes below the 20-day moving average crossing at 49.08 are needed to confirm that a short-term top has been posted. If March extends this year's rally, the 25% retracement level of last year's decline crossing at 54.53 is the next upside target.

Complimentary Starter Kit | Introduction to Futures Trading

Access to over 60 pages of professional futures guidance and education -Organization of a futures exchange and mechanics of futures
-Types of orders and how to place them -Using fundamental and technical analysis, and understanding charts

Trading futures and options involves the risk of loss.

GRAINS Agricultural Commodities Analysis

March corn was lower overnight as it extends Monday's decline. The low-range close sets the stage for a steady to lower opening when the day session begins later this morning. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends this week's decline, the mid-January low crossing at 3.58 3/4 then the 62% retracement level of the December-January rally crossing at 3.52 3/4 are the next downside targets. Closes above the reaction high crossing at 4.02 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 3.82 1/4. Second resistance is the 20-day moving average crossing at 3.86 1/2. First support is Monday's low crossing at 3.63. Second support is the mid-January low crossing at 3.58 3/4.

March wheat was lower overnight as it extends Monday's decline. The low-range close sets the stage for a steady to lower opening when the day session begins trading later this morning. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near-term. If March extends this week's decline, January's low crossing at 5.48 1/4 is the next downside target. Closes above the 20-day moving average crossing at 5.83 1/2 are needed to confirm that a short-term low has been posted.
March wheat closed down 4 1/4-cents at 5.63 3/4.

March wheat closed lower on Monday as it extends last Friday's decline below the 10-day moving average. A short covering rally tempered early losses and the mid-range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near-term. If March renews January's decline, the reaction low crossing at 5.18 is the next downside target. Closes above last Monday's high crossing at 6.10 are needed confirm that a short-term low has been posted.

March Minneapolis wheat was lower overnight as it extends Monday's decline. The low-range close sets the stage for a steady to lower opening when the day session begins later this morning. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near-term. If March extends this week's decline, January's low crossing at 6.24 1/2 is the next downside target. Closes below this support level would confirm that a double top with the early-January high has been posted while opening the door for additional weakness into early-February. If March renews the rally off January's low, the reaction high crossing at 6.85 3/4 is the next upside target. Closes above this resistance level are needed to renew the rally off December's low.

SOYBEAN COMPLEX
March soybeans were lower due to profit taking overnight as they extend last week's decline. The low-range overnight close sets the stage for a steady to lower opening when the day session begins later this morning. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-term. If March extends this week's decline, the 50% retracement level of the December-January rally crossing at 9.20 is the next downside target. Closes above the 20-day moving average crossing at 9.90 3/4 would confirm that a short-term low has been posted. Closes above the reaction high crossing at 10.40 are needed to renew the rally off December's low.

March soybean meal was lower overnight as it extends Monday's decline below the 20-day moving average crossing at 307.30. The low-range close overnight set the stage for a steady to lower opening when the day session begins trading later this morning. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-term. If March extends Monday's decline, January's low crossing at 292.00 is the next downside target. Closes above the 10-day moving average crossing at 312.10 are needed to confirm that a short-term low has been posted.

March soybean oil was lower in overnight trading as it extends last week's decline. The low-range close sets the stage for a steady to lower opening when the day session begins later this morning. Stochastics and the RSI are oversold but remain bearish signaling that sideways to lower prices are possible. If March extends January's decline, the reaction low crossing at 30.50 is the next downside target. Closes above the 20-day moving average crossing at 34.05 are needed to confirm that a short-term low has been posted.

LIVESTOCK
April hogs closed down $1.30 at $61.67.

April hogs posted an inside day with a lower close on Monday as it consolidated some of last Friday's rally. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are oversold and are turning bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 65.69 are needed to confirm that a short-term low has been posted. If April extends this year's decline, weekly support crossing at 60.08 is the next downside target. First resistance is last Friday's high crossing at 63.15. Second resistance is the 20-day moving average crossing at 65.69. First support is last Tuesday's low crossing at 60.60. Second support is weekly support crossing at 60.08.

February bellies closed down $1.35 at $81.60.

February bellies posted an inside day with a lower close on Monday as it consolidated some of last Friday's rally but remains above the 10-day moving average crossing at 80.87. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are turning bullish signaling that a double bottom with December's low has likely been posted. Closes above the 20-day moving average crossing at 82.93 are needed to confirm that a double bottom has been posted.

April cattle closed up $1.72 at 86.82.

April cattle closed sharply higher on Monday and above the 20-day moving average crossing at 86.63 confirming that a short-
term low has been posted. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are turning bullish hinting that sideways to higher prices are possible near-term. If April extends today's rally, the reaction high crossing at 88.30 is the next upside target. Closes below the 10-day moving average crossing at 85.24 would confirm that a short-term top has been posted.

March feeder cattle closed up $3.00 at $94.00.

March Feeder cattle gapped up and closed above the 20-day moving average crossing at 92.94 on Monday confirming that a short-term low has been posted. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If March extends this week's rally, the reaction high crossing at 95.20 is the next upside target. Closes below the 10-day moving average crossing at 91.64 would confirm that a short-term top has been posted.

By INO.com

INO and Quote Providers furnish quotes and market analysis without responsibility for accuracy and is accepted by the site visitor on the condition that transmission or omissions shall not be made the basis for any claim, demand or cause for action. The information and data was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information, nor any opinion expressed, constitutes a solicitation of the purchase or sale of any futures or options..

INO Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules