Gold reached the target objective of $1065.00. The stalled at the confluence of resistance where the up-sloping median line reached the prior pivot high. The markt is currently trading lower.… read more
Monthly Archives: April 2010
Reversal Swing Dates for the week of April 12 – 16.
Monday – Wheat Tuesday – Gold Wednesday – Corn, T-Notes Thursday – Dollar index, Canadian dollar Friday – T-Bonds, Silver… read more
Silver crosses the median line. What’s next? [chart]
Silver crossed the major ascending median line with good separation. Silver had tested the median three times in the past five days, but pulled back each time. A close above the line–with good separation–is a bullish indicator and portends a continuation of the updward trend. The next target objective is $18.85. However, the major reaction… read more
Opening Grain News
CHICAGO (Dow Jones)–Estimates for increased world corn and soybean carryout issued in a U.S. Department of Agriculture report Friday are bearish for Chicago Board of Trade grain and soybean futures, traders said. CBOT corn and wheat are called to open the day session 1-2 cents per bushel lower. CBOT soybeans are called to open 2-3… read more
Crop Production [4/9/2010]
WASHINGTON, April 9 (Reuters) – U.S. soybean exports will hit a record 1.445 billion bushels this marketing year while the corn surplus rises to 1.899 billion bushels, largest in four years but smaller than traders expected, said the government on Friday. The Agriculture Department also reduced the size of the 2009 cotton crop by 2… read more
Current pattern may setting up major sell for Soybeans. [chart]
Soybeans have been trading is sideways trading range for the past two and half months. The last attempt to test the up-sloping median line failed and the market has dropped back to test the lower trigger line. A break below the (red) trigger line is bearish and typically portends a significant price move in the… read more
June Euro Currency 1340 put – Delta Option Program Update [4/8/2010]
Exit the last June Euro Currency 1340 put (Delta Option Trading Program) @ 238 points or better. Nice trade!… read more
Initital Jobless Claims [4/8/2010]
-U.S. jobless claims rose in latest week. Initial Claims: March 27 from 439,000 Four-Week Average: March 27 from 447,250 Continued Claims: March 20 from 4,662,000… read more
Spread traders may want to consider this seasonal Soybean spread. [chart]
According to the Moore Research Center of Eugene, OR, it is time to consider the seasonal Soybean spread of long July Soybeans and short November Soybeans. They state that the seasonal recommendation begins on April 4 and runs thru May 7. Moore Research reports that the spread has been profitable 12 out of the past 15… read more
EIA Energy Stocks [4/7/2010]
NEW YORK, April 7 (Reuters) – U.S. crude oil inventories rose slightly more than expected last week while gasoline stockpiles showed a steep drawdown, a government report showed on Wednesday. Distillate inventories showed a surprise build in the week to April 2, while refinery utilization rose more than analysts had forecast, according to the weekly… read more