In the July 23, 2010 issue of the TMV Swing Trading Report, I made a recommendation to buy Coffee at 162.05. (See the July 23 post in this blog) The buy signal was triggered following the completion of a five-wave continuation pattern and ended on the July 21…a projected reversal date. The buy signal was triggered on… read more
Tag Archives: Commodities
Futures Broker / Grain News
WHEAT – Up 10 to 15 cents per bushel. Boosted by drought in Europe that was trimming crop prospects and by a larger-than-expected U.S. wheat export sales number in USDA’s weekly export sales report released on Thursday. * IGC cuts forecast for 2010/11 world wheat crop by 13 million tonnes to 651 million but noted… read more
Swing Trading Strategies – Action-Reaction makes accurate Gold projections, here is how! [chart]
As the August Gold futures contract trades at a new twelve week low and tests the reaction line target objective (currently at $1155.90) on a projected reversal date, I think it would be a good time to look back and see how this reversal date and target objective were determined, several days in advance. To begin, I will go… read more
Futures Broker / Wheat News
CHICAGO, July 28 (Reuters) – Wheat futures on the Chicago Board of Trade on Wednesday climbed to a fresh 13-month high on continuous price charts on private forecasts for a sharp drop in Russian wheat exports due to drought, traders said.… read more
Futures Broker / Grain News
NEW YORK, July 28 (Reuters) – Chicago soybean traders focused on forecasts for hotter and drier weather for the Delta and Southeast over the next week, which may harm some of the crop that is setting pods. * In the Midwest, overall satisfactory crop weather was predicted for the next week to 10 days, with… read more
Futures News – New Homes Sales rebound sharply.
NEW YORK, July 26 (Reuters) – Sales of new U.S. single-family homes rebounded strongly in June from the prior month’s record low, government data showed on Monday, driving the number of houses on the market to their lowest level in nearly 42 years. KEY POINTS: * The Commerce Department said sales jumped 23.6… read more
Futures Broker/ Grain News and Calls
CHICAGO (Dow Jones)–U.S. wheat futures are expected to slide on Tuesday’s open following overnight losses on a stronger dollar and continued profit-taking after the market’s sharp rally last week. Chicago Board of Trade futures are called 4 cents to 6 cents lower. In overnight trade, CBOT September wheat was down 6 cents to $5.76 1/4… read more
Futures Broker / Grains Calls and News
By Andrew Johnson Jr. Of DOW JONES NEWSWIRES CHICAGO (Dow Jones)–Soybean futures are expected to start Friday’s day session on the defensive, with the market consolidating ahead of the weekend after the week’s sharp gains. Overnight, Chicago Board of Trade August soybeans were 1/4 cent lower at $10.18 3/4 and November soybeans were 3/4 cent… read more
Swing Trading Strategy – New reaction swing projects higher target objective for Wheat! What’s the new price? [chart]
September Wheat could continue to trade higher until it reaches the newly projected reaction line. The market had reached the previous reaction at $5.66 during Wednesday( July 14) trading session, before backing off and closing at $5.59. This time and price objective where determined from the TR pattern. (See blog entry from July 12). However,… read more
CFTC Subcommittee on Convergence to Discuss Wheat Markets (7-15-2010)
CFTC Subcommittee on Convergence to Discuss Wheat Markets Washington, DC – On Thursday, July 15, 2010, members of the Commodity Futures Trading Commission’s (CFTC) Subcommittee on Convergence in Agricultural Commodity Markets will conduct a conference call from 3:00 – 4:00 p.m., to discuss recent developments in the wheat markets. The Subcommittee on Convergence in Agricultural… read more