Thursday, January 14, 2021

Sector Analysis and Key Events for Thursday

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Summary
The Dow Future has advanced 69 points to 31034. The US Dollar Index rose 0.018 points to 90.373. Gold has gained 0.210 dollars to 1840.575. Silver has climbed 0.0185 dollars to 25.2390. The Dow Industrials moved lower 8.22 points, at 31060.47, while the S&P 500 edged higher by 8.65 points, last seen at 3809.84. The Nasdaq Composite gained 56.52 points to 13128.95. Streaming charts of these markets are available at MarketClub

Blog Postings and Videos
Yield Curve Relentlessly Steepens
Wednesday Jan 13th

A Poisoned Silver Arrow
Tuesday Jan 12th

Is More Stimulus A Slam Dunk?
Monday Jan 11th

Key Events for Thursday

8:30 AM ET. U.S. Weekly Export Sales

Corn (Metric Tons) (previous 748.9K)

Soybeans (Metric Tons) (previous 116.8K)

Wheat (Metric Tons) (previous 281.3K)

8:30 AM ET. December Import & Export Price Indexes

Import Prices (expected +0.7%; previous +0.1%)

Non-Petroleum Prices (previous +0%)

Petroleum Prices (previous +2.1%)

8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims

Jobless Claims (expected 800K; previous 787K)

Jobless Claims, Net Chg (previous -3K)

Continuing Claims (previous 5072000)

Continuing Claims, Net Chg (previous -126K)

9:45 AM ET. Bloomberg Consumer Comfort Index

10:00 AM ET. ABA Economic Advisory Committee economic forecast (virtual)

10:30 AM ET. EIA Weekly Natural Gas Storage Report

Working Gas In Storage (Cbf) (previous 3330B)

Working Gas In Storage, Net Chg (Cbf) (previous -130B)

4:30 PM ET. Federal Discount Window Borrowings

4:30 PM ET. Foreign Central Bank Holdings

4:30 PM ET. Money Stock

8:30 AM ET. December PPI

PPI, M/M% (expected +0.4%; previous +0.1%)

Ex-Food & Energy PPI, M/M% (expected +0.1%; previous +0.1%)

Personal Consumption (previous +0.3%)

8:30 AM ET. December Advance Monthly Sales for Retail & Food Services

Overall Sales-SA, M/M% (expected -0.1%; previous -1.1%)

Sales, Ex-Auto, M/M% (expected -0.4%; previous -0.9%)

Sales, Ex-Auto & Gas, M/M% (previous -0.8%)

8:30 AM ET. January Empire State Manufacturing Survey

Mfg Idx (expected 6.0; previous 4.9)

Employment Idx (previous 14.2)

New Orders Idx (previous 3.4)

Prices Received (previous 10)

9:15 AM ET. December Industrial Production & Capacity Utilization

Industrial Production, M/M% (expected +0.5%; previous +0.4%)

Capacity Utilization % (expected 73.7%; previous 73.3%)

Capacity Utilization, Net Chg (Pts) (previous +0.3)

10:00 AM ET. November Manufacturing & Trade: Inventories & Sales

Total Inventories (expected +0.5%; previous +0.7%)

10:00 AM ET. January University of Michigan Survey of Consumers - preliminary data

Mid-Mo Sentiment (expected 79.4; previous 81.4)

Mid-Mo Expectations (previous 74.7)

Mid-Mo Current Idx (previous

N/A U.S: Martin Luther King Day. Financial markets closed



 
Currencies Snapshot
Symbol Last Change %
US DOLLAR INDEX 90.373 +0.018 +0.02%
Invesco DB US Dollar Index 24.365 +0.075 +0.30%
US Dollar/Canadian Dollar 1.267845 -0.000805 -0.06%
Euro/US Dollar 1.214290 -0.000685 -0.06%
JAPANESE YEN Jan 2021 0.009627 -0.000012 -0.13%
SWISS FRANC Mar 2021 1.1250 -0.0035 -0.32%
US Dollar/Hong Kong Dollar 7.75375 +0.00013 0.00%
CURRENCIES:http://quotes.ino.com/ex changes/?c=currencies"

The March Dollar was steady to slightly lower in overnight trading. The low-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off last-Wednesday's low, the 50-day moving average crossing at $91.09 is the next upside target. If March renews the decline off November's high, monthly support crossing at $88.15 is the next downside target. First resistance is the December 21st high crossing at $90.95. Second resistance is the 50-day moving average crossing at $91.09. First support is last-Wednesday's low crossing at $89.16. Second support is monthly support crossing at $88.15.

The March Euro was steady to slightly lower overnight. The low-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off last-Wednesday's high, the 50-day moving average crossing at $120.86 is the next downside target. If March renews the rally off November's low, the 62% retracement level of the 2018-2020-decline crossing at $125.38 is the next upside target. First resistance is last-Wednesday's high crossing at $123.68. Second resistance is the 62% retracement level of the 2018-2020-decline crossing at $125.38. First support is the 50-day moving average crossing at $120.86. Second support is the November 23rd low crossing at $118.33.

The March British Pound was steady to slightly higher overnight. The mid-range overnight trade sets the stage for a steady to slightly higher opening when the day session beings trading. Stochastics and the RSI are diverging but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March renews the rally off September's low, the February-2019 high crossing at 1.3728 is the next upside target. Closes below Monday's low crossing at 1.3456 would signal that a short-term top has been posted while opening the door for additional weakness near-term. First resistance is last-Monday's high crossing at 1.3710. Second resistance is the February-2019 high crossing at 1.3728. First support is Monday's low crossing at 1.3456. Second support is the 50-day moving average crossing at 1.3401.

The March Swiss Franc was steady to lower overnight. The low-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are neutral to bearish signaling that a short-term top might be in or is near. Closes below the December 28th low crossing at 1.1241 would signal that a short-term top has been posted. If March renews the rally off November's low, the 75% retracement level of the 2018-2020-decline crossing at 1.1540 is the next upside target. First resistance is last-Wednesday's high crossing at 1.1441. Second resistance is the 75% retracement level of the 2018-2020-decline crossing at 1.1540. First support is the December 28th low crossing at 1.1241. Second support is the 50-day moving average crossing at 1.1194.

The March Canadian Dollar was higher overnight. The high-range trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March renews this winter's rally, the 87% retracement level of the 2018-2020-decline crossing at $80.50 is the next upside target. Closes below the 50-day moving average crossing at $77.64 would signal that a short-term top has been posted. First resistance is last-Wednesday's high crossing at $79.19. Second resistance is the 87% retracement level of the 2018-2020-decline crossing at $80.50. First support is the 50-day moving average crossing at $77.64. Second support is the December 21st low crossing at $77.21.

The March Japanese Yen was steady to lower overnight. The mid-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. 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 last-Wednesday's high, December's low crossing at 1.0956 is the next downside target. First resistance is last-Wednesday's high crossing at 0.0975. Second resistance is the 87% retracement level of the February-March rally crossing at 0.0981. First support is December's low crossing at 0.0956. Second support is the November's low crossing at 0.0948.



 
Energy Snapshot
Symbol Last Change %
CRUDE OIL Feb 2021 52.76 -0.10 -0.25%
NY HARBOR ULSD HEATING OIL Feb 2021 1.5965 -0.0005 -0.04%
NATURAL GAS Feb 2021 2.759 +0.017 +0.54%
RBOB GASOLINE Feb 2021 1.5391 -0.0082 -0.74%
Invesco DWA Energy Momentum ETF 21.0834 -0.4898 -3.86%
United States Gasoline 26.5921 -0.1479 -0.80%

ENERGIES

March crude oil was steady to slightly lower overnight as it consolidates some of the rally off November's low. The low-range overnight trade sets the stage for a steady to slightly lower opening when the day session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off November's low, the 75% retracement level of the 2018-2020-decline crossing at $57.64 is the next upside target. Closes below the 20-day moving average crossing at $49.68 would confirm that a short-term top has been posted. First resistance is Wednesday's high crossing at $53.94. Second resistance is the 75% retracement level of the 2018-2020-decline crossing at $57.64. First support is the 10-day moving average crossing at $51.14. Second support is the 20-day moving average crossing at $49.68.

March heating oil was steady to slightly lower overnight. The low-range overnight trade sets the stage for a steady to slightly lower opening when the day session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off November's low, the 50% retracement level of the 2018-2020-decline crossing at $168.80 is the next upside target. Closes below the 20-day moving average crossing at $151.79 would signal that a short-term top has been posted. First resistance is Wednesday's high crossing at $161.74. Second resistance is the 50% retracement level of the 2018-2020-decline crossing at $168.43. First support is the 10-day moving average crossing at $154.87. Second support is the 20-day moving average crossing at $151.79.

March unleaded gas was steady to lower overnight as it consolidates some of the rally off November's low. The low-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. Closes below the 20-day moving average crossing at $143.46 would confirm that a short-term top has been posted. If March resumes the rally off November's low, the 75% retracement level of the 2018-2020-decline crossing at $170.66 is the next upside target. First resistance is Wednesday's high crossing at $157.40. Second resistance is the 75% retracement level of the 2018-2020-decline crossing at $170.66. First support is the 10-day moving average crossing at $149.01. Second support is the 20-day moving average crossing at $143.46.

March Henry natural gas was steady to higher overnight and trading above the 50-day moving average crossing at 2.703. The mid-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off December's low, the November 20th high crossing at 2.910 is the next upside target. Closes below the 20-day moving average crossing at 2.613 would signal that a short-term top has been posted. First resistance resistance is Tuesday's high crossing at 2.835. Second resistance is the November 30th high crossing at 2.910. First support is last-Monday's gap crossing at 2.537. Second support is the December 28th low crossing at 2.268.



 
Food Snapshot
Symbol Last Change %
COFFEE MARCH 2021 124.45 -0.80 -0.64%
SUGAR #11 WORLD MARCH 2021 16.13 +0.29 +1.83%
SUGAR #16 MARCH 2021 28.6 0.0 0.00%
ORANGE JUICE - A MARCH 2021 124.55 +3.50 +2.89%
IPATH SER B BLOOMBERG SUGAR SUBINDEX TOTAL RETURN 47.485 +0.911 +2.07%
IPATH SER B BLOOMBERG SOFTS SUBINDEX TOTAL RETURN 42.640 -0.295 -0.76%

FOOD & FIBER

March coffee closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off November's low, the 87% retracement level of the September-November decline crossing at 13.17 is the next upside target. Closes below the 50-day moving average crossing at 11.95 would open the door for additional weakness near-term.

March cocoa closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March renews the decline off November's high, the November 16th gap crossing at 23.95. Closes above last-Monday's high crossing at 26.61 would signal that a short-term low has been posted.

March sugar closed higher on Wednesday. The high-range close set the stage for a steady to higher opening on Thursday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 15.19 would signal that a short-term top has been posted. If March renews the rally off December's low, weekly resistance crossing at 17.23 is the next upside target.

March cotton closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off April's low, monthly resistance crossing at 84.47 is the next upside target. Closes below the 20-day moving average crossing at 77.95 would confirm that a short-term top has been posted.



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Grains Snapshot
Symbol Last Change %
CORN Mar 2021 526.50 +2.25 +0.55%
OATS Mar 2021 362.75 -0.25 -0.08%
WHEAT Mar 2021 656.75 -2.50 -0.41%
Teucrium Corn Fund ETV 16.67 -0.12 -0.89%
IPATH SER B BLOOMBERG GRAINS SUBINDEX TOTAL RETURN 58.59 -0.40 -0.85%
ELEMENTS Linked to the ICE BofAML Commodity Index eXtra Grains Total Return 4.1600 +0.2200 +6.89%
SOYBEANS Jan 2021 1413.00 -14.25 -1.31%
SOYBEAN (MINI) Jan 2021 1500 +101 +9.31%
SOYBEAN MEAL Jan 2021 463.1 -8.9 -2.34%
Teucrium Soybean Fund ETV 20.81 -0.19 -1.17%

GRAINS

March corn was steady to fractionally higher overnight. The high-range close sets the stage for a steady to higher opening when the day sessions begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off April's low, the 50% retracement level of the 2012-2019-decline on the monthly continuation chart crossing at $5.72 1/4 is the next upside target. Closes below the 20-day moving average crossing at $4.74 would signal that a short-term top has been posted. First resistance is Wednesday's high crossing at $5.41 1/2. Second resistance is the 50% retracement level of the 2012-2019-decline on the monthly continuation chart crossing at $5.72 1/4. First support is the 10-day moving average crossing at $5.00 3/4. Second support is the 20-day moving average crossing at $4.74.

March wheat was lower overnight as it consolidates some of the rally off August's low. The low-range close sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March resumes the rally off December's low, the 62% retracement level of the 2012-2016-decline on the monthly continuation chart crossing at $7.34 1/4 is the next upside target. Closes below the 20-day moving average crossing at $6.33 would signal that a short-term top has been posted. First resistance is Wednesday's high crossing at $6.80 3/4. Second resistance is the 62% retracement level of the 2012-2016-decline on the monthly continuation chart crossing at $7.34 1/4. First support is the 20-day moving average crossing at $6.33. Second support is the 50-day moving average crossing at $6.12 1/4.

March Kansas City wheat was steady to fractionally higher overnight as it extends the rally off August's low. The mid-range close sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off August's low, the December-2014 high on the monthly continuation chart crossing at $7.05 3/4 is the next upside target. Closes below the 20-day moving average crossing at $5.93 1/2 would confirm that a short-term top has been posted. First resistance is the October-2018 high crossing at $6.38 1/2. Second resistance is the December-2014 high crossing at $7.05 3/4. First support is the 20-day moving average crossing at $5.93 1/2. Second support is the 50-day moving average crossing at $5.72 1/2.

March Minneapolis wheat was higher overnight as it extends the rally off December's low. The high-range close sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off December's low, the May-2018 high on the monthly continuation chart crossing at $6.51 is the next upside target. Closes below the 20-day moving average crossing at crossing at $5.93 would signal that a short-term top has been posted. First resistance is Wednesday's high crossing at $6.36. Second resistance is the May-2018 high on the monthly continuation chart crossing at $6.51. First support is the 10-day moving average crossing at crossing at $6.10 3/4. Second support is the 20-day moving average crossing at $5.93.

SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains "

March soybeans were steady to higher overnight. The mid-range close sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off August's low, the 75% retracement level of the 2012-2019-decline crossing at $15.39 1/4 is the next upside target. Closes below the 20-day moving average crossing at $13.08 1/2 would signal that a short-term top has been posted. First resistance is Wednesday's high crossing at $14.36 1/2. Second resistance is the 75% retracement level of the 2012-2019-decline crossing at $15.39 1/4. First support is the 10-day moving average crossing at $13.68 1/4. Second support is the 20-day moving average crossing at $13.08 1/2.

March soybean meal was steady to higher overnight. The high-range close sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off August's low, monthly resistance crossing at $478.40 is the next upside target. Closes below the 20-day moving average crossing at $427.50 would confirm that a short-term top has been posted. First resistance is Wednesday's high crossing at $471.40. Second resistance is monthly resistance crossing at $478.40. First support is the 10-day moving average crossing at $443.10. Second support is the 20-day moving average crossing at $427.50.

March soybean oil was higher overnight as it extends the decline off January's high. The low-range close sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 41.42 would confirm that a short-term top has been posted. If March resumes the rally off October's low, the March 2014 high on the monthly continuation chart crossing at 45.05 is the next upside target. First resistance is last-Wednesday's high crossing at 44.69. Second resistance is the March 2014 high on the monthly continuation chart crossing at 45.05. First support is the 20-day moving average crossing at 41.42. Second support is the 50-day moving average crossing at 38.88.



 
Indexes Snapshot
Symbol Last Change %
Dow Jones Industrial Average 31060.47 -8.22 -0.03%
NASDAQ Composite 13128.95 +56.52 +0.51%
S&P 500 3809.84 +8.65 +0.26%
SPDR S&P 500 379.95 +1.18 +0.35%
iShares Russell 2000 ETF 209.78 -1.48 -0.92%

U.S. STOCK INDEXES

The March NASDAQ 100 was steady to lower overnight. The low-range trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are neutral to bearish signaling that a short-term top might be in or is near. Closes below last-Wednesday's low crossing at 12,491.25 would confirm that a short-term top has been posted. If the NASDAQ 100 resumes the rally off November's low into uncharted territory, upside targets will be hard to project. First resistance is last-Friday's high crossing at 13,125.00. Second resistance is unknown. First support is last-Wednesday's low crossing at 12,491.25. Second is the 50-day moving average crossing at 12,408.45.

The March S&P 500 was steady to slightly higher overnight. The mid-range overnight trade sets the stage for a steady to higher opening when the day session begins trading later this morning. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends this year's rally into uncharted territory, upside targets will be hard to project. Closes below the December 21st low crossing at 3637.20 would confirm that a short-term top has been posted. First resistance is last-Friday's high crossing at 3817.50. Second resistance is unknown. First support is the December 21st low crossing at 3637.20. Second support is the 50-day moving average crossing at 3650.01.



 
Interest Snapshot
Symbol Last Change %
T-BONDS Mar 2021 168.87500 -0.53125 -0.30%
iShares Floating Rate Bond ETF 50.760 +0.003 +0.01%
5 YEAR T-NOTES Mar 2021 125.562500 -0.062500 -0.05%
ULTRA T-BONDS Mar 2021 205.75000 -0.84375 -0.39%
Invesco Senior Loan Portf 22.45 +0.01 +0.05%

INTEREST RATES

March T-bonds were steady to lower overnight. The low-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are oversold but are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 171-11 would signal that a low has been posted. If March extends the decline off the November high, the 50% retracement level of the 2018-2020-rally on the monthly continuation chart crossing at 164-04 is the next downside target. First resistance is the 10-day moving average crossing at 170-00. Second resistance is the 20-day moving average crossing at 171-11. First support is Tuesday's low crossing at 167-11. Second support is the 50% retracement level of the 2018-2020-rally on the monthly continuation chart crossing at 164-04.

March T-notes were steady to lower overnight. The low-range overnight trade sets the stage for a steady to lower opening with the day session begins trading. Stochastics and the RSI are oversold but are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 137.156 would signal that a short-term low has been posted. If March resumes this month's decline, monthly support crossing at 134.298 is the next downside target. First resistance is the 10-day moving average crossing at 137.029. Second resistance is the 20-day moving average crossing at 137.156. First support is Tuesday's low crossing at 136.010. Second support is monthly support crossing at 134.298.



 
Livestock Snapshot
Symbol Last Change %
FEEDER CATTLE Jan 2021 133.575 +0.500 +0.37%
LEAN HOGS Feb 2021 66.750 -1.825 -2.73%
LIVE CATTLE Feb 2021 112.275 -0.425 -0.38%
IPATH SER B BLOOMBERG LIVESTOCK SUBINDEX TOTAL RETURN 34.015 -0.225 -0.67%

LIVESTOCK

February hogs closed down $1.75 at $66.75.

February hogs gapped down and closed lower on Wednesday. Today's close below the 50-day moving average crossing at $66.87 confirms that a short-term top has been posted. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If February extends today's decline, the reaction low crossing at $65.77 is the next downside target. Closes above the 10-day moving average crossing at 69.19 would signal that a short-term low has been posted. First resistance is last-Monday's high crossing at $72.00. Second resistance is the 87% retracement level of the 2019-2020-decline crossing at $73.83. First support is the 50-day moving average crossing at $66.87. Second support is the reaction low crossing at $65.77.

February cattle closed down $0.20 at $112.28

February cattle closed lower on Wednesday. The mid-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible. If February extends the decline off December's high, December's low crossing at $110.55 is the next downside target. If February resumes the rally off October's low, September's high crossing at $116.63 is the next upside target. First resistance is December's high crossing at $116.30. Second resistance is September's high crossing at $116.63. First support is January's low crossing at $111.35. Second support is December's low crossing at $110.55. Third support is November's low crossing at $109.00.

March Feeder cattle closed up $0.65 at $134.63.

March Feeder cattle closed higher due to short covering on Wednesday as it consolidates some of the decline off December's high. The high-range close sets the stage for a steady to higher opening when Thursday's session begins trading. 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 November 20th low crossing at $132.45 is the next downside target. Closes above the 20-day moving average crossing at $139.53 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at $137.02. Second resistance is the 20-day moving average crossing at $139.53. First support is today's low crossing at $132.67. Second support is the November 20th low crossing at $132.45.



 
Metals Snapshot
Symbol Last Change %
GOLD Jan 2021 1837.1 -19.7 -1.03%
SPDR Gold Trust 173.35 -0.77 -0.43%
SILVER Jan 2021 25.510 +0.145 +0.60%
PALLADIUM Mar 2021 2386.0 -14.0 -0.60%
Direxion Daily Gold Miners Index Bear 2X Shares 19.82 +0.43 +2.38%
Invesco DB Precious Metals Fund 51.2500 -0.1129 -0.22%

PRECIOUS METALS

February gold was steady to lower overnight. The mid-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If February extends the decline off January's high, November's low crossing at $1767.20 is the next downside target. Closes above the 10-day moving average crossing at $1887.30 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at $1887.30. Second resistance is January's high crossing at $1962.50. First support is Monday's low crossing at $1817.10. Second support is November's low crossing at $1767.20.

March silver was was steady to slightly higher overnight. The mid-range overnight trade sets the stage for a steady to slightly higher opening when the day session begins trading later this morning. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below Monday's low crossing at $24.365 would open the door for additional weakness near-term. Closes above the 10-day moving average crossing at $26.300 are needed to signal that a short-term low has been posted. First resistance is January's high crossing at $28.105. Second resistance is September's high crossing at $29.380. First support is Monday's low crossing at $24.365. Second support is November's low crossing at $21.960.

March copper was steady to higher overnight. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bearish signaling that a short-term top might be in or is near. Closes below the December 23rd low crossing at 3.4780 would confirm that a short-term top has been posted. If March extends the rally off October's low, the February-2013 high on the monthly continuation chart crossing at 3.7925 is the next upside target. First resistance is last-Friday's high crossing at 3.7340. Second resistance is the February-2013 high on the monthly chart crossing at 3.7925. First support is the December 23rd low crossing at 3.4780. Second support is the 50-day moving average crossing at 3.4384.



 
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6. ACB Aurora Cannabis, Inc 10.9099 +0.3499 +7.13% 37,464,041 +90    Entry Signal
7. ACOR Acorda Therapeutics, Inc 6.12 +1.88 +174.07% 36,550,042 +100    Entry Signal
8. XPEV XPeng Inc. 51.6000 -2.7000 -12.16% 27,894,736 +100    Entry Signal
9. SAVA Cassava Sciences, Inc. 11.425 +3.245 +35.31% 24,571,467 +100    Entry Signal
10. APHA Aphria Inc. 9.9995 +0.5695 +11.41% 24,152,001 +90    Entry Signal
 
Top Futures
#symbolnamelastnet%volumescoretriangles 
1. @SB.H21 SUGAR #11 WORLD MARCH 2021 16.13 +0.29 +1.83% 14,426 +100    Entry Signal
2. ZW.H21 WHEAT Mar 2021 656.75 -2.50 -0.41% 10,561 +90    Entry Signal
3. 6M.H21 MEXICAN PESO Mar 2021 0.05017 +0.00017 +0.36% 10,362 +90    Entry Signal
4. HE.M21 LEAN HOGS Jun 2021 85.225 +0.225 +0.28% 9,488 +100    Entry Signal
5. @SB.K21 SUGAR #11 WORLD MAY 2021 15.20 +0.25 +1.67% 4,574 +100    Entry Signal
6. QCL.Z22 CRUDE OIL DECEMBER 2022 48.57 +0.29 +0.60% 3,378 +90    Entry Signal
7. ZW.K21 WHEAT May 2021 658.25 -1.50 -0.25% 3,280 +90    Entry Signal
8. @MW.K21 HARD RED SPRING WHEAT MAY 2021 635.75 +6.75 +1.06% 3,177 +100    Entry Signal
9. HE.N21 LEAN HOGS Jul 2021 86.325 +0.175 +0.22% 2,976 +100    Entry Signal
10. ZW.N21 WHEAT Jul 2021 644.00 -2.00 -0.33% 2,760 +90    Entry Signal

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