A double bottom formation appears to be setting up a buying opportunity for the March Japanese yen. The market traded below the prior swing low and dipped to 1.1186 before reversing and trading higher. The market was not able to find new sellers below the previous swing pattern and traded back into the consolidation. This… read more
Tag Archives: Commodities
Opening Grain Calls and News / Futures Broker
WHEAT – Up 4 to 6 cents per bushel Weak dollar boosting market in addition to ongoing concerns about harvest delays, crop conditions in Australia as well as dry weather in U.S. Plains * Dry weather and wide temperature swings will cause further stress to the hard red winter wheat crop in western areas of… read more
Reversal dates for the week of 12/13 through 12/17
Monday – Hogs, Natural gas, Silver, Treasury bonds, Japanese yen Tuesday – RBOB gas, Gold, S&P, Eurocurrency, Cotton Wednesday – Cattle, Dow Jones Thursday – Soymeal, Canadian dollar Friday – Corn Learn how reversal dates can help you trading. www.tradersnetwork.com… read more
Swing Trading Strategy – Energy building for a significant move in Coffee. [chart]
Coffee has been forming a consolidation pattern over the past few weeks. I look at this sideways consolidation pattern and see two smaller reaction swings inside the larger reaction swing (identified by the high pivot on November 9 the low pivot on November 16th. The three reaction swings have formed a bullish pennant formation and that gives… read more
Opening Grain Calls / Futures Broker
WHEAT – Up 3 to 5 cents per bushel. Lifted by weather concerns in Australia and in the U.S. with additional support from increasing U.S. exports of wheat, including a sale of 250,000 tonnes to Iraq and a weekly government sales number that was above estimates. CORN – Down 2 to 3 cents per bushel.… read more
Grain Opening Calls and News / Futures Broker
WHEAT – Down 10 to 15 cents per bushel. Pressure from a higher dollar and profit-taking after the rally early in the week to a four-month high left the market technically overbought and due for a correction. * USDA to cut U.S. wheat stocks amid Australian rain. * Floods in Australia cut wheat crop. Estimated… read more
Swing Trading Strategies – How is the December 6th reversal date affecting Wheat? [chart]
In the December issue of the TMV Swing Trading Report I wrote this about how the December 6th reversal date could affect Wheat over the short-term. March Wheat – Wheat is due for a corrective pullback after closing higher for eight days in a row. Today’s higher close pushed into a minor reversal Castle With… read more
Swing Trading Strategies – Will the December 6th reversal date signal a new direction for Crude oil? [chart]
The previous two reversal dates (November 11 and November 23) have triggered major turns in the January Crude oil. After posting a low on the November 23rd reversal date, Crude rallied over $10.00 and traded beyond the prior swing high of $89.10 posted on the November 11th reversal date. It just so happens that the… read more
Weather News Grains Calls Higher / Futures Broker
WHEAT – Up 12 to 15 cents per bushel. Support from excessive wet weather in Australia’s wheat harvest and dry weather in portions of the U.S. winter wheat region and in China’s wheat belt. Weak dollar also supportive. * Australia sees record wheat crop, but quality down. * Paris wheat at new high on Australia… read more
Grain News and Opening Calls / Futures Broker
WHEAT – Up 5 to 10 cents per bushel. Support from excessive wet weather in Australia’s wheat harvest and dry weather in the U.S. western Plains and in portions of China’s wheat growing region. Gains limited by a firm dollar. CORN – Down 3 to 5 cents per bushel. Firm dollar, lower crude oil and… read more