Market Recap for Comex & Cbot &Nymex
***BOND MARKET RECAP - 11/15/2010
December Bonds finished down 1-230 at 126-070, 1-100 off the high and 0-010 up from the low.
December 10 Yr Treasury Notes closed down 1-055 at 124-245. This was 0-020 up from the low and 0-255 off the high.
Technical Outlook
BONDS (DEC) 11/16/2010: Momentum studies are declining, but have fallen to oversold levels. A negative signal for trend short-term was given on a close under the 9-bar moving average. There could be some early pressure today given the market's negative setup with the close below the 2nd swing support. The next downside target is now at 123-250. The 9-day RSI under 30 indicates the market is approaching
oversold levels. The next area of resistance is around 126-250 and 128-160, while 1st support hits today at 124-140 and below there at 123-250.
10 YR TREASURY NOTES (DEC) 11/16/2010: The close below the 60-day moving average
is an indication the longer-term trend has turned down. Declining momentum studies
in the neutral zone will tend to reinforce lower price action. The close below
the 9-day moving average is a negative short-term indicator for trend. There could
be some early pressure today given the market's negative setup with the close
below the 2nd swing support. The next downside target is 123-160. With a reading
under 30, the 9-day RSI is approaching oversold levels. The next area of resistance
is around 125-085 and 126-095, while 1st support hits today at 123-280 and below
there at 123-160.
***STOCK INDICES RECAP - 11/15/2010
December S&P closed up 0.4 at 1195.8. This was 1 up from the low and 9.7 off the
high. December S&P E-Mini finished up 0.75 at 1196.25, 9.5 off the high and 3.75
up from the low.
December Dow finished up 21 at 11173, 76 off the high and 10 up from the low.
Technical Outlook
S&P 500 (DEC) 11/16/2010: Momentum studies trending lower at mid-range should
accelerate a move lower if support levels are taken out. The market's short-term
trend is negative as the close remains below the 9-day moving average. It is a
slightly negative indicator that the close was lower than the pivot swing number.
The next downside objective is 1184.53. The next area of resistance is around
1202.25 and 1210.32, while 1st support hits today at 1189.35 and below there at
1184.53.
S&P E-MINI (DEC) 11/16/2010: Declining momentum studies in the neutral zone will
tend to reinforce lower price action. A negative signal for trend short-term was
given on a close under the 9-bar moving average. The market tilt is slightly
negative with the close under the pivot. The next downside target is now at 1184.44.
The next area of resistance is around 1202.87 and 1210.93, while 1st support hits
today at 1189.63 and below there at 1184.44.
NASDAQ (DEC) 11/16/2010: Stochastics trending lower at midrange will tend to
reinforce a move lower especially if support levels are taken out. The close below
the 9-day moving average is a negative short-term indicator for trend. The market
tilt is slightly negative with the close under the pivot. The next downside target
is 2110.25. The next area of resistance is around 2139.50 and 2156.25, while 1st
support hits today at 2116.50 and below there at 2110.25.
DOW (DEC) 11/16/2010: Momentum studies trending lower at mid-range could accelerate
a price break if support levels are broken. The market's close below the 9-day
moving average is an indication the short-term trend remains negative. The close
over the pivot swing is a somewhat positive setup. The next downside objective
is now at 11100. The next area of resistance is around 11220 and 11245, while 1st
support hits today at 11148 and below there at 11100.
***CURRENCY MARKET RECAP - 11/15/2010
December US Dollar closed up 0.529 at 78.760. This was 0.745 up from the low and
0.100 off the high.
December Euro closed down 1.07 at 135.83. This was 0.22 up from the low and 1.64
off the high.
December Japanese Yen finished down 1.05 at 120.29, 1.09 off the high and 0.19
up from the low.
December Swiss finished down 0.74 at 101.57, 0.88 off the high and 0.25 up from
the low.
December Canadian Dollar finished up 0.05 at 99, 0.39 off the high and 0.44 up
from the low.
December British Pound closed down 0.92 at 160.5. This was 0.12 up from the low
and 1.01 off the high.
Technical Outlook
JAPANESE YEN (DEC) 11/16/2010: The market back below the 60-day moving average
suggests the longer-term trend could be turning down. Daily stochastics declining
into oversold territory suggest the selling may be drying up soon. A negative
signal for trend short-term was given on a close under the 9-bar moving average.
The market setup is somewhat negative with the close under the 1st swing support.
The next downside objective is 119.21. The 9-day RSI under 30 indicates the market
is approaching oversold levels. The next area of resistance is around 120.87 and
121.76, while 1st support hits today at 119.59 and below there at 119.21.
EURO (DEC) 11/16/2010: The downside crossover of the 9 and 18 bar moving average
is a negative signal. Daily stochastics declining into oversold territory suggest
the selling may be drying up soon. A negative signal for trend short-term was
given on a close under the 9-bar moving average. The market's close below the 1st
swing support number suggests a moderately negative setup for today. The next
downside target is now at 134.33. The next area of resistance is around 136.76
and 138.04, while 1st support hits today at 134.90 and below there at 134.33.
***PRECIOUS METALS RECAP - 11/15/2010
December Gold closed down 6.7 at 1358.8. This was 4 up from the low and 17.8 off
the high.
December Silver finished up 0.15 at 26.092, 0.363 off the high and 0.387 up from
the low.
Technical Outlook
COMEX SILVER (DEC) 11/16/2010: Stochastics trending lower at midrange will tend
to reinforce a move lower especially if support levels are taken out. The close
below the 9-day moving average is a negative short-term indicator for trend. It
is a slightly negative indicator that the close was under the swing pivot. The
next downside target is now at 2462.3. The next area of resistance is around
2600.5 and 2678.2, while 1st support hits today at 2492.5 and below there at
2462.3.
COMEX GOLD (DEC) 11/16/2010: Momentum studies trending lower at mid-range could
accelerate a price break if support levels are broken. The market back below the
18-day moving average suggests the intermediate-term trend could be turning down.
It is a slightly negative indicator that the close was under the swing pivot. The
next downside target is now at 1340.5. The next area of resistance is around
1369.7 and 1384.0, while 1st support hits today at 1347.9 and below there at
1340.5.
***COPPER MARKET RECAP - 11/15/2010
December Copper closed up 3.15 at 392.50. This was 2.70 up from the low and 1.45
off the high.
Technical Outlook
COMEX COPPER (DEC) 11/16/2010: Momentum studies trending lower at mid-range should
accelerate a move lower if support levels are taken out. The market's close below
the 9-day moving average is an indication the short-term trend remains negative.
The upside daily closing price reversal gives the market a bullish tilt. It is a
slightly negative indicator that the close was under the swing pivot. The next
downside objective is 380.08. The next area of resistance is around 396.00 and
400.87, while 1st support hits today at 385.60 and below there at 380.08.
***ENERGY MARKET RECAP - 11/15/2010
December Crude Oil closed down 0.20 at 84.68. This was 0.20 up from the low and
1.09 off the high.
December Heating Oil closed up 0.48 at 236.80. This was 0.45 up from the low and
2.45 off the high.
December RBOB Gasoline finished down 0.99 at 220.00, 4.89 off the high and 1.36
up from the low.
December Natural Gas finished up 0.06 at 3.86, 0.01 off the high and 0.15 up from
the low.
Technical Outlook
CRUDE OIL (DEC) 11/16/2010: Stochastics trending lower at midrange will tend to
reinforce a move lower especially if support levels are taken out. The market's
close below the 9-day moving average is an indication the short-term trend remains
negative. The market's close below the pivot swing number is a mildly negative
setup. The next downside target is now at 83.62. The next area of resistance is
around 85.33 and 86.19, while 1st support hits today at 84.05 and below there at
83.62.
RBOB GAS (DEC) 11/16/2010: The daily stochastics have crossed over down which is
a bearish indication. Momentum studies are trending lower from high levels which
should accelerate a move lower on a break below the 1st swing support. The market's
close above the 9-day moving average suggests the short-term trend remains positive.
The market's close below the pivot swing number is a mildly negative setup. The
next downside objective is 214.64. The next area of resistance is around 223.12
and 227.13, while 1st support hits today at 216.88 and below there at 214.64.
HEATING OIL (DEC) 11/16/2010: Stochastics turning bearish at overbought levels
will tend to support lower prices if support levels are broken. The close below
the 9-day moving average is a negative short-term indicator for trend. The market's
close below the pivot swing number is a mildly negative setup. The next downside
target is 234.40. The next area of resistance is around 238.25 and 240.20, while
1st support hits today at 235.35 and below there at 234.40.
***CORN MARKET RECAP - 11/15/2010
December Corn finished up 21 1/2 at 555 1/2, 11 1/2 off the high and 16 1/2 up
from the low. March Corn closed up 21 at 569. This was 16 1/2 up from the low and
11 off the high.
Technical Outlook
CORN (DEC) 11/16/2010: The major trend could be turning up with the close back
above the 40-day moving average. The downside crossover of the 9 and 18 bar moving
average is a negative signal. Daily stochastics declining into oversold territory
suggest the selling may be drying up soon. The market's close below the 9-day
moving average is an indication the short-term trend remains negative. With the
close over the 1st swing resistance number, the market is in a moderately positive
position. The next downside target is now at 526 1/4. The next area of resistance
is around 569 1/2 and 582 1/4, while 1st support hits today at 541 1/2 and below
there at 526 1/4.
***SOY COMPLEX RECAP - 11/15/2010
January Soybeans finished up 17 1/2 at 1286 1/2, 21 off the high and 34 1/4 up
from the low. March Soybeans closed up 16 3/4 at 1293 3/4. This was 33 3/4 up
from the low and 20 3/4 off the high.
December Soybean Oil finished down 0.06 at 52.47, 0.85 off the high and 1.21 up
from the low.
December Soymeal closed up 8.4 at 348.1. This was 12.4 up from the low and 4.2
off the high.
Technical Outlook
SOYBEANS (JAN) 11/16/2010: Momentum studies trending lower at mid-range should
accelerate a move lower if support levels are taken out. The market's short-term
trend is negative as the close remains below the 9-day moving average. The upside
closing price reversal on the daily chart is somewhat bullish. The market's close
below the pivot swing number is a mildly negative setup. The next downside objective
is now at 1228. The next area of resistance is around 1314 and 1338 1/4, while
1st support hits today at 1259 and below there at 1228.
SOYMEAL (DEC) 11/16/2010: Declining momentum studies in the neutral zone will
tend to reinforce lower price action. The cross over and close above the 18-day
moving average indicates the intermediate-term trend has turned up. The upside
closing price reversal on the daily chart is somewhat bullish. With the close
higher than the pivot swing number, the market is in a slightly bullish posture.
The next downside target is now at 329.5. The next area of resistance is around
356.4 and 362.6, while 1st support hits today at 339.8 and below there at
329.5.
SOYBEAN OIL (DEC) 11/16/2010: Stochastics turning bearish at overbought levels
will tend to support lower prices if support levels are broken. The close below
the 9-day moving average is a negative short-term indicator for trend. It is a
slightly negative indicator that the close was under the swing pivot. The next
downside target is 50.32. The next area of resistance is around 53.49 and 54.44,
while 1st support hits today at 51.44 and below there at 50.32.
***WHEAT MARKET RECAP - 11/15/2010
December Wheat finished up 3 1/2 at 672 3/4, 12 1/4 off the high and 5 1/4 up
from the low. March Wheat closed up 3 at 712 1/2. This was 5 up from the low and
12 off the high.
Technical Outlook
WHEAT (DEC) 11/16/2010: Momentum studies are still bearish but are now at oversold
levels and will tend to support reversal action if it occurs. The close below the
9-day moving average is a negative short-term indicator for trend. The market's
close below the pivot swing number is a mildly negative setup. The next downside
objective is 657. The next area of resistance is around 681 1/2 and 692, while
1st support hits today at 664 and below there at 657.
KC WHEAT (DEC) 11/16/2010: Stochastics trending lower at midrange will tend to
reinforce a move lower especially if support levels are taken out. A negative
signal for trend short-term was given on a close under the 9-bar moving average.
It is a slightly negative indicator that the close was under the swing pivot. The
next downside objective is 718. The next area of resistance is around 740 3/4 and
751 1/4, while 1st support hits today at 724 1/4 and below there at 718.
MINN WHEAT (DEC) 11/16/2010: Momentum studies trending lower at mid-range should
accelerate a move lower if support levels are taken out. A negative signal for
trend short-term was given on a close under the 9-bar moving average. It is a
slightly negative indicator that the close was lower than the pivot swing number.
The next downside objective is now at 733 1/2. The next area of resistance is
around 753 1/2 and 763 1/4, while 1st support hits today at 738 1/2 and below
there at 733 1/2.
***LIVE CATTLE RECAP - 11/15/2010
December Live Cattle closed up 0.90 at 99.30. This was 0.90 up from the low and
0.60 off the high.
January Feeder Cattle finished up 0.65 at 115.05, 0.15 off the high and 0.65 up
from the low.
Technical Outlook
LIVE CATTLE (DEC) 11/16/2010: The cross over and close above the 40-day moving
average is an indication the longer-term trend has turned positive. Momentum
studies are trending higher from mid-range, which should support a move higher if
resistance levels are penetrated. The market now above the 18-day moving average
suggests the intermediate-term trend has turned up. With the close over the 1st
swing resistance number, the market is in a moderately positive position. The
next upside target is 100.725. The next area of resistance is around 100.049 and
100.725, while 1st support hits today at 98.550 and below there at 97.725.
LEAN HOGS RECAP - 11/15/2010
December Lean Hogs closed up 0.63 at 69.60. This was 1.03 up from the low and
0.25 off the high.
Technical Outlook
LEAN HOGS (DEC) 11/16/2010: The moving average crossover up (9 above 18) indicates
a possible developing short-term uptrend. Rising stochastics at overbought levels
warrant some caution for bulls. The market's short-term trend is positive on the
close above the 9-day moving average. With the close over the 1st swing resistance
number, the market is in a moderately positive position. The next upside target
is 70.706. The next area of resistance is around 70.287 and 70.706, while 1st
support hits today at 69.013 and below there at 68.157.
***COCOA MARKET RECAP - 11/15/2010
December Cocoa finished up 26 at 2761, 19 off the high and 56 up from the low.
Technical Outlook
COCOA (DEC) 11/16/2010: Momentum studies trending lower at mid-range should
accelerate a move lower if support levels are taken out. The close below the 9-day
moving average is a negative short-term indicator for trend. The daily closing
price reversal up on the daily chart is somewhat positive. The close over the
pivot swing is a somewhat positive setup. The next downside objective is now at
2677. The next area of resistance is around 2798 and 2826, while 1st support hits
today at 2724 and below there at 2677.
***COFFEE MARKET RECAP - 11/15/2010
December Coffee closed up 4.00 at 204.45. This was 2.85 up from the low and 2.50
off the high.
Technical Outlook
COFFEE (DEC) 11/16/2010: Momentum studies trending lower at mid-range should
accelerate a move lower if support levels are taken out. The cross over and close
above the 18-day moving average indicates the intermediate-term trend has turned
up. A positive setup occurred with the close over the 1st swing resistance. The
next downside objective is now at 199.02. The next area of resistance is around
207.12 and 209.71, while 1st support hits today at 201.78 and below there at
199.02.
***SUGAR MARKET RECAP - 11/15/2010
March Sugar closed up 0.82 at 27.03. This was 1.36 up from the low and 0.21 off
the high.
Technical Outlook
SUGAR (MAR) 11/16/2010: Momentum studies trending lower at mid-range could
accelerate a price break if support levels are broken. The market's short-term trend
is negative as the close remains below the 9-day moving average. It is a mildly
bullish indicator that the market closed over the pivot swing number. The next
downside objective is 25.18. The next area of resistance is around 27.81 and
28.31, while 1st support hits today at 26.25 and below there at 25.18.
***COTTON MARKET RECAP - 11/15/2010
December Cotton finished down 1.43 at 138.75, 1.92 off the high and 3.34 up from
the low.
Technical Outlook
COTTON (DEC) 11/16/2010: Declining momentum studies in the neutral zone will tend
to reinforce lower price action. A negative signal for trend short-term was given
on a close under the 9-bar moving average. It is a slightly negative indicator
that the close was lower than the pivot swing number. The next downside target
is 133.14. The next area of resistance is around 141.38 and 143.65, while 1st
support hits today at 136.12 and below there at 133.14.
Courtesy(FuturesPulse Market Recap)
***BOND MARKET RECAP - 11/15/2010
December Bonds finished down 1-230 at 126-070, 1-100 off the high and 0-010 up from the low.
December 10 Yr Treasury Notes closed down 1-055 at 124-245. This was 0-020 up from the low and 0-255 off the high.
Technical Outlook
BONDS (DEC) 11/16/2010: Momentum studies are declining, but have fallen to oversold levels. A negative signal for trend short-term was given on a close under the 9-bar moving average. There could be some early pressure today given the market's negative setup with the close below the 2nd swing support. The next downside target is now at 123-250. The 9-day RSI under 30 indicates the market is approaching
oversold levels. The next area of resistance is around 126-250 and 128-160, while 1st support hits today at 124-140 and below there at 123-250.
10 YR TREASURY NOTES (DEC) 11/16/2010: The close below the 60-day moving average
is an indication the longer-term trend has turned down. Declining momentum studies
in the neutral zone will tend to reinforce lower price action. The close below
the 9-day moving average is a negative short-term indicator for trend. There could
be some early pressure today given the market's negative setup with the close
below the 2nd swing support. The next downside target is 123-160. With a reading
under 30, the 9-day RSI is approaching oversold levels. The next area of resistance
is around 125-085 and 126-095, while 1st support hits today at 123-280 and below
there at 123-160.
***STOCK INDICES RECAP - 11/15/2010
December S&P closed up 0.4 at 1195.8. This was 1 up from the low and 9.7 off the
high. December S&P E-Mini finished up 0.75 at 1196.25, 9.5 off the high and 3.75
up from the low.
December Dow finished up 21 at 11173, 76 off the high and 10 up from the low.
Technical Outlook
S&P 500 (DEC) 11/16/2010: Momentum studies trending lower at mid-range should
accelerate a move lower if support levels are taken out. The market's short-term
trend is negative as the close remains below the 9-day moving average. It is a
slightly negative indicator that the close was lower than the pivot swing number.
The next downside objective is 1184.53. The next area of resistance is around
1202.25 and 1210.32, while 1st support hits today at 1189.35 and below there at
1184.53.
S&P E-MINI (DEC) 11/16/2010: Declining momentum studies in the neutral zone will
tend to reinforce lower price action. A negative signal for trend short-term was
given on a close under the 9-bar moving average. The market tilt is slightly
negative with the close under the pivot. The next downside target is now at 1184.44.
The next area of resistance is around 1202.87 and 1210.93, while 1st support hits
today at 1189.63 and below there at 1184.44.
NASDAQ (DEC) 11/16/2010: Stochastics trending lower at midrange will tend to
reinforce a move lower especially if support levels are taken out. The close below
the 9-day moving average is a negative short-term indicator for trend. The market
tilt is slightly negative with the close under the pivot. The next downside target
is 2110.25. The next area of resistance is around 2139.50 and 2156.25, while 1st
support hits today at 2116.50 and below there at 2110.25.
DOW (DEC) 11/16/2010: Momentum studies trending lower at mid-range could accelerate
a price break if support levels are broken. The market's close below the 9-day
moving average is an indication the short-term trend remains negative. The close
over the pivot swing is a somewhat positive setup. The next downside objective
is now at 11100. The next area of resistance is around 11220 and 11245, while 1st
support hits today at 11148 and below there at 11100.
***CURRENCY MARKET RECAP - 11/15/2010
December US Dollar closed up 0.529 at 78.760. This was 0.745 up from the low and
0.100 off the high.
December Euro closed down 1.07 at 135.83. This was 0.22 up from the low and 1.64
off the high.
December Japanese Yen finished down 1.05 at 120.29, 1.09 off the high and 0.19
up from the low.
December Swiss finished down 0.74 at 101.57, 0.88 off the high and 0.25 up from
the low.
December Canadian Dollar finished up 0.05 at 99, 0.39 off the high and 0.44 up
from the low.
December British Pound closed down 0.92 at 160.5. This was 0.12 up from the low
and 1.01 off the high.
Technical Outlook
JAPANESE YEN (DEC) 11/16/2010: The market back below the 60-day moving average
suggests the longer-term trend could be turning down. Daily stochastics declining
into oversold territory suggest the selling may be drying up soon. A negative
signal for trend short-term was given on a close under the 9-bar moving average.
The market setup is somewhat negative with the close under the 1st swing support.
The next downside objective is 119.21. The 9-day RSI under 30 indicates the market
is approaching oversold levels. The next area of resistance is around 120.87 and
121.76, while 1st support hits today at 119.59 and below there at 119.21.
EURO (DEC) 11/16/2010: The downside crossover of the 9 and 18 bar moving average
is a negative signal. Daily stochastics declining into oversold territory suggest
the selling may be drying up soon. A negative signal for trend short-term was
given on a close under the 9-bar moving average. The market's close below the 1st
swing support number suggests a moderately negative setup for today. The next
downside target is now at 134.33. The next area of resistance is around 136.76
and 138.04, while 1st support hits today at 134.90 and below there at 134.33.
***PRECIOUS METALS RECAP - 11/15/2010
December Gold closed down 6.7 at 1358.8. This was 4 up from the low and 17.8 off
the high.
December Silver finished up 0.15 at 26.092, 0.363 off the high and 0.387 up from
the low.
Technical Outlook
COMEX SILVER (DEC) 11/16/2010: Stochastics trending lower at midrange will tend
to reinforce a move lower especially if support levels are taken out. The close
below the 9-day moving average is a negative short-term indicator for trend. It
is a slightly negative indicator that the close was under the swing pivot. The
next downside target is now at 2462.3. The next area of resistance is around
2600.5 and 2678.2, while 1st support hits today at 2492.5 and below there at
2462.3.
COMEX GOLD (DEC) 11/16/2010: Momentum studies trending lower at mid-range could
accelerate a price break if support levels are broken. The market back below the
18-day moving average suggests the intermediate-term trend could be turning down.
It is a slightly negative indicator that the close was under the swing pivot. The
next downside target is now at 1340.5. The next area of resistance is around
1369.7 and 1384.0, while 1st support hits today at 1347.9 and below there at
1340.5.
***COPPER MARKET RECAP - 11/15/2010
December Copper closed up 3.15 at 392.50. This was 2.70 up from the low and 1.45
off the high.
Technical Outlook
COMEX COPPER (DEC) 11/16/2010: Momentum studies trending lower at mid-range should
accelerate a move lower if support levels are taken out. The market's close below
the 9-day moving average is an indication the short-term trend remains negative.
The upside daily closing price reversal gives the market a bullish tilt. It is a
slightly negative indicator that the close was under the swing pivot. The next
downside objective is 380.08. The next area of resistance is around 396.00 and
400.87, while 1st support hits today at 385.60 and below there at 380.08.
***ENERGY MARKET RECAP - 11/15/2010
December Crude Oil closed down 0.20 at 84.68. This was 0.20 up from the low and
1.09 off the high.
December Heating Oil closed up 0.48 at 236.80. This was 0.45 up from the low and
2.45 off the high.
December RBOB Gasoline finished down 0.99 at 220.00, 4.89 off the high and 1.36
up from the low.
December Natural Gas finished up 0.06 at 3.86, 0.01 off the high and 0.15 up from
the low.
Technical Outlook
CRUDE OIL (DEC) 11/16/2010: Stochastics trending lower at midrange will tend to
reinforce a move lower especially if support levels are taken out. The market's
close below the 9-day moving average is an indication the short-term trend remains
negative. The market's close below the pivot swing number is a mildly negative
setup. The next downside target is now at 83.62. The next area of resistance is
around 85.33 and 86.19, while 1st support hits today at 84.05 and below there at
83.62.
RBOB GAS (DEC) 11/16/2010: The daily stochastics have crossed over down which is
a bearish indication. Momentum studies are trending lower from high levels which
should accelerate a move lower on a break below the 1st swing support. The market's
close above the 9-day moving average suggests the short-term trend remains positive.
The market's close below the pivot swing number is a mildly negative setup. The
next downside objective is 214.64. The next area of resistance is around 223.12
and 227.13, while 1st support hits today at 216.88 and below there at 214.64.
HEATING OIL (DEC) 11/16/2010: Stochastics turning bearish at overbought levels
will tend to support lower prices if support levels are broken. The close below
the 9-day moving average is a negative short-term indicator for trend. The market's
close below the pivot swing number is a mildly negative setup. The next downside
target is 234.40. The next area of resistance is around 238.25 and 240.20, while
1st support hits today at 235.35 and below there at 234.40.
***CORN MARKET RECAP - 11/15/2010
December Corn finished up 21 1/2 at 555 1/2, 11 1/2 off the high and 16 1/2 up
from the low. March Corn closed up 21 at 569. This was 16 1/2 up from the low and
11 off the high.
Technical Outlook
CORN (DEC) 11/16/2010: The major trend could be turning up with the close back
above the 40-day moving average. The downside crossover of the 9 and 18 bar moving
average is a negative signal. Daily stochastics declining into oversold territory
suggest the selling may be drying up soon. The market's close below the 9-day
moving average is an indication the short-term trend remains negative. With the
close over the 1st swing resistance number, the market is in a moderately positive
position. The next downside target is now at 526 1/4. The next area of resistance
is around 569 1/2 and 582 1/4, while 1st support hits today at 541 1/2 and below
there at 526 1/4.
***SOY COMPLEX RECAP - 11/15/2010
January Soybeans finished up 17 1/2 at 1286 1/2, 21 off the high and 34 1/4 up
from the low. March Soybeans closed up 16 3/4 at 1293 3/4. This was 33 3/4 up
from the low and 20 3/4 off the high.
December Soybean Oil finished down 0.06 at 52.47, 0.85 off the high and 1.21 up
from the low.
December Soymeal closed up 8.4 at 348.1. This was 12.4 up from the low and 4.2
off the high.
Technical Outlook
SOYBEANS (JAN) 11/16/2010: Momentum studies trending lower at mid-range should
accelerate a move lower if support levels are taken out. The market's short-term
trend is negative as the close remains below the 9-day moving average. The upside
closing price reversal on the daily chart is somewhat bullish. The market's close
below the pivot swing number is a mildly negative setup. The next downside objective
is now at 1228. The next area of resistance is around 1314 and 1338 1/4, while
1st support hits today at 1259 and below there at 1228.
SOYMEAL (DEC) 11/16/2010: Declining momentum studies in the neutral zone will
tend to reinforce lower price action. The cross over and close above the 18-day
moving average indicates the intermediate-term trend has turned up. The upside
closing price reversal on the daily chart is somewhat bullish. With the close
higher than the pivot swing number, the market is in a slightly bullish posture.
The next downside target is now at 329.5. The next area of resistance is around
356.4 and 362.6, while 1st support hits today at 339.8 and below there at
329.5.
SOYBEAN OIL (DEC) 11/16/2010: Stochastics turning bearish at overbought levels
will tend to support lower prices if support levels are broken. The close below
the 9-day moving average is a negative short-term indicator for trend. It is a
slightly negative indicator that the close was under the swing pivot. The next
downside target is 50.32. The next area of resistance is around 53.49 and 54.44,
while 1st support hits today at 51.44 and below there at 50.32.
***WHEAT MARKET RECAP - 11/15/2010
December Wheat finished up 3 1/2 at 672 3/4, 12 1/4 off the high and 5 1/4 up
from the low. March Wheat closed up 3 at 712 1/2. This was 5 up from the low and
12 off the high.
Technical Outlook
WHEAT (DEC) 11/16/2010: Momentum studies are still bearish but are now at oversold
levels and will tend to support reversal action if it occurs. The close below the
9-day moving average is a negative short-term indicator for trend. The market's
close below the pivot swing number is a mildly negative setup. The next downside
objective is 657. The next area of resistance is around 681 1/2 and 692, while
1st support hits today at 664 and below there at 657.
KC WHEAT (DEC) 11/16/2010: Stochastics trending lower at midrange will tend to
reinforce a move lower especially if support levels are taken out. A negative
signal for trend short-term was given on a close under the 9-bar moving average.
It is a slightly negative indicator that the close was under the swing pivot. The
next downside objective is 718. The next area of resistance is around 740 3/4 and
751 1/4, while 1st support hits today at 724 1/4 and below there at 718.
MINN WHEAT (DEC) 11/16/2010: Momentum studies trending lower at mid-range should
accelerate a move lower if support levels are taken out. A negative signal for
trend short-term was given on a close under the 9-bar moving average. It is a
slightly negative indicator that the close was lower than the pivot swing number.
The next downside objective is now at 733 1/2. The next area of resistance is
around 753 1/2 and 763 1/4, while 1st support hits today at 738 1/2 and below
there at 733 1/2.
***LIVE CATTLE RECAP - 11/15/2010
December Live Cattle closed up 0.90 at 99.30. This was 0.90 up from the low and
0.60 off the high.
January Feeder Cattle finished up 0.65 at 115.05, 0.15 off the high and 0.65 up
from the low.
Technical Outlook
LIVE CATTLE (DEC) 11/16/2010: The cross over and close above the 40-day moving
average is an indication the longer-term trend has turned positive. Momentum
studies are trending higher from mid-range, which should support a move higher if
resistance levels are penetrated. The market now above the 18-day moving average
suggests the intermediate-term trend has turned up. With the close over the 1st
swing resistance number, the market is in a moderately positive position. The
next upside target is 100.725. The next area of resistance is around 100.049 and
100.725, while 1st support hits today at 98.550 and below there at 97.725.
LEAN HOGS RECAP - 11/15/2010
December Lean Hogs closed up 0.63 at 69.60. This was 1.03 up from the low and
0.25 off the high.
Technical Outlook
LEAN HOGS (DEC) 11/16/2010: The moving average crossover up (9 above 18) indicates
a possible developing short-term uptrend. Rising stochastics at overbought levels
warrant some caution for bulls. The market's short-term trend is positive on the
close above the 9-day moving average. With the close over the 1st swing resistance
number, the market is in a moderately positive position. The next upside target
is 70.706. The next area of resistance is around 70.287 and 70.706, while 1st
support hits today at 69.013 and below there at 68.157.
***COCOA MARKET RECAP - 11/15/2010
December Cocoa finished up 26 at 2761, 19 off the high and 56 up from the low.
Technical Outlook
COCOA (DEC) 11/16/2010: Momentum studies trending lower at mid-range should
accelerate a move lower if support levels are taken out. The close below the 9-day
moving average is a negative short-term indicator for trend. The daily closing
price reversal up on the daily chart is somewhat positive. The close over the
pivot swing is a somewhat positive setup. The next downside objective is now at
2677. The next area of resistance is around 2798 and 2826, while 1st support hits
today at 2724 and below there at 2677.
***COFFEE MARKET RECAP - 11/15/2010
December Coffee closed up 4.00 at 204.45. This was 2.85 up from the low and 2.50
off the high.
Technical Outlook
COFFEE (DEC) 11/16/2010: Momentum studies trending lower at mid-range should
accelerate a move lower if support levels are taken out. The cross over and close
above the 18-day moving average indicates the intermediate-term trend has turned
up. A positive setup occurred with the close over the 1st swing resistance. The
next downside objective is now at 199.02. The next area of resistance is around
207.12 and 209.71, while 1st support hits today at 201.78 and below there at
199.02.
***SUGAR MARKET RECAP - 11/15/2010
March Sugar closed up 0.82 at 27.03. This was 1.36 up from the low and 0.21 off
the high.
Technical Outlook
SUGAR (MAR) 11/16/2010: Momentum studies trending lower at mid-range could
accelerate a price break if support levels are broken. The market's short-term trend
is negative as the close remains below the 9-day moving average. It is a mildly
bullish indicator that the market closed over the pivot swing number. The next
downside objective is 25.18. The next area of resistance is around 27.81 and
28.31, while 1st support hits today at 26.25 and below there at 25.18.
***COTTON MARKET RECAP - 11/15/2010
December Cotton finished down 1.43 at 138.75, 1.92 off the high and 3.34 up from
the low.
Technical Outlook
COTTON (DEC) 11/16/2010: Declining momentum studies in the neutral zone will tend
to reinforce lower price action. A negative signal for trend short-term was given
on a close under the 9-bar moving average. It is a slightly negative indicator
that the close was lower than the pivot swing number. The next downside target
is 133.14. The next area of resistance is around 141.38 and 143.65, while 1st
support hits today at 136.12 and below there at 133.14.
Courtesy(FuturesPulse Market Recap)
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