Hogs rallied into the 60% sell zone on the December 13, 2010 reversal date. The market opened lower the following day and continues lower on Wednesday. The cycle remains bearish and the price action suggests Hogs are poised to break out of the reaction swing and decline into the December 22nd reversal date with a… read more
Tag Archives: Commodity Trading
Swing Trading Strategies – Will there be a gap-n-go pattern in the Gold? [chart]
There are many negative signals developing in the Gold chart. The recent double top was followed by a three-day corrective bounce that reached the 60% sell window on a projected reversal date (December 14, 2010). Wednesday’s trading session opened with a gap lower and the market is currently trading below the prior day’s low. A… read more
Swing Trading Strategy – Bullish Reaction Swing Portends New Advance in Crude oil. [chart].
January Crude oil has formed a bullish reaction swing over the ascending median line. The market dipped down to the 20-day EMA just minutes before a 9.85 million barrel drawdown was reported in the EIA weekly petroleum supply and demand report. This caused Crude oil to rally off the 20-day EMA and trade above the… read more
Grain News / Futures News
CHICAGO, Dec 15 (Reuters) – Signs of good export demand supported Chicago Board of Trade wheat and soybean futures early on Wednesday, traders said. Shortly before the futures market opened, Egypt announced it bought 110,000 tonnes of hard red winter wheat from the United States. Additionally, Jordan bought 150,000 tonnes of U.S. hard red winter… read more
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
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 – 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