In the May 27th (Thursday) issue of the TMV Swing Trading report, I recommended buying the July Crude oil on a pullback to 70.80. The market had closed at 71.51 after confirming a bullish Gap-N-Go pattern. Crude dipped down to 70.67 early in the following session, where it triggered the buy signal before turning higher and staging a… read more
Tag Archives: Commodities
Futures Broker / Grain Calls and News
WHEAT – Steady to up 1 cent per bushel. * Short-covering bounce expected as dollar eases; market rebounding after contract lows hit early this week. End-month positioning expected. CORN – Down 1 to 2 cents per bushel. * Setback from Thursday’s higher close, with generally favorable U.S. crop weather overhanging the market. Quiet consolidation expected… read more
Futures Broker / Grain News and Calls
WHEAT – Up 3 to 5 cents per bushel. Boosted by weak dollar and higher equities markets. USDA’s export sales report showed U.S. wheat exports above trade expectations. CORN – Up 1 to 2 cents per bushel. Support from firm crude oil and higher equities in addition to a weak dollar and potential further sales… read more
Swing Trading Strategies intra-day using “action-reaction” by John Crane. [chart]
Most of my posts are about swing trading strategies using daily charts. Therefore, I am often asked if the “action-reaction” method can also be used when daytrading. Yes, it can. This 3-minute chart, of the June Eurocurrency, offers a great example of “action-reaction” at work intra-day. Between 7:48 a.m. and 7:54 a.m. (MST) on the… read more
Futures Broker / Grain News and Calls
WHEAT – Up 5 to 7 cents per bushel. Short-covering, a weak dollar and rebound in equities markets lending support to wheat futures. CORN – Up 3 to 5 cents per bushel. Support from news China may import more U.S. corn, a weak dollar, higher crude oil and a rebound in equities markets. SOYBEANS –… read more
Swing Trading Strategy – Price action suggests Coffee may have bottomed and ready to rally. [chart]
July Coffee traded to a low of 130.60 before reversing and rebounding sharply off the lower parallel line. This price action suggests the market may be in a trend shift and ready to rally off the recent pivot low. Coffee rallied over 100 points off the low, leaving good separation for the low. This is an… read more
Futures Broker / Grain News and Calls
WHEAT – Down 3 to 5 cents per bushel. * Strong dollar and falling equities weigh on wheat futures in addition to continued pressure from an abundant stockpile of wheat. CORN – Down 5 to 7 cents per bushel. * Good crop seeding and growing weather in the U.S., a strong dollar and falling crude… read more
Futures Broker / Grain News and Calls
WHEAT – Down 1 to 2 cents per bushel. Pressure from firm dollar, weak equities and plentiful supply of wheat but underpinned by hot weather in northern Europe that may have harmed some of the wheat crop there. CORN – Down 1 to 2 cents per bushel. Firm dollar, lower equities and warmer and drier… read more
Futures Broker / Grain News and Calls
WHEAT – Down 2 to 3 cents per bushel. Pressure from firm dollar and falling equities as market continues to deal with uncertainty about the eurozone economy. Also pressure from a turn to warmer U.S. crop weather which will help boost production prospects. CORN – Down 1 to 2 cents per bushel. Pressure from a… read more
Swing trading signals – How will the Soybeans react after reaching target objective on predicted reversal swing date? [chart]
Twenty days after posting a high near the April 21st reversal date, July Soybeans reached the up-sloping reaction target line. The daily low of $9.31 tested the reaction line before finding support and rebounding to unchanged. This completes the five-wave cycle as the Soybeans reach the target objective–projected two weeks in advance–on the projected reversal date. While the… read more