WHEAT – Up 1 to 2 cents per bushel. Support from good number for wheat in USDA’s weekly export sales report, a weak dollar and gains in corn following China’s purchases. CORN – Up 2 to 3 cents per bushel. Support from China’s purchases of U.S. corn and some outlooks for more sales to China.… read more
Tag Archives: Futures Trading
Bullish swing pattern sets the stage for a new rally in Gold. [chart]
Gold traded above the previous swing high ($1170.70 on April 12, 2010) at the close of Tuesday’s trading session and then backed off can closed below the prior high. Wednesday’s session opens steady to slightly and traded slightly lower before surging past the pivot high for the second time. The second crossing sets the stage… read more
Japanese yen forms new reaction swing and sets stage for new price decline. [chart]
Tuesday’s one-day rally stopped short by the 20- day SMA and the down-sloping reaction line. The yen reversed at the two levles of resistance and resumed the dominate downward trend. This should set the stage for the next swing lower into the May 6th reversal swing date.… read more
Grain Calls
WHEAT – Up 1 to 2 cents per bushel. Follow-through short-covering bounce after the sharp decline of prices on Monday. Also, spillover support from gains in corn and soybeans. CORN – Up 5 to 6 cents per bushel. Support from news China bought 115,000 tonnes of U.S. corn, cold and wet weather that is delaying… read more
Soybeans reverse sharply after reaching projected target objective! [chart]
On April 5th, July Soybeans posted a low close of $945 1/4 inside the 60% buy window. Two days later, Soybeans rallied out of the buy window and traded through the trigger price for a long entry signal. The reverse/forward count projected a new upward price swing of twelve days from the low close from April 5th. I also… read more
Long Cocoa swing trade reaches target objecitve on R-swing date! [chart]
When July Cocoa dipped into the 60% buy window on April 12th the RT Swing Trader program triggered a buy signal for the July Cocoa at 2934. As soon as the the buy signal was triggered the RT Swing Trader identified April 26th as the projected reversal swing date and placed the reaction target objective… read more
Reversal Swing Dates for the week of April 26 – 30
Monday – Cocoa Tuesday – Hogs, Bean oil, Dow Jones, Canadian dollar, Eurocurrency, Japanese yen Wednesday – Cattle, Soy meal, RBOB gas, Heating oil Thursday – Cocoa Friday – Bean oil, Crude oil, Coffee… read more
Opening Grain News
By Andrew Johnson Jr. Of DOW JONES NEWSWIRES CHICAGO (Dow Jones)–Chicago Board of Trade soybean futures are poised for a lower start to Friday’s day session on pre-weekend positioning in the absence of fresh fundamental news. CBOT soybeans are seen opening the day session 2 cents to 3 cents lower. A weak undertone from outside,… read more
Swing trade sell opportunity in July Silver. [chart]
July Silver traded to a high of 18.20 and just breached the 60% sell window before turning sharply lower. This price action is forming a potential TR sell pattern. The market needs a trade below Wednesday’s daily low (17.455) to confirm the reaction swing and the final segment of the TR pattern sequence. If the… read more
Grain Calls
WHEAT – Down 1 to 2 cents per bushel. Firm dollar and ongoing pressure from abundant supply of wheat weigh on wheat futures. Neutral reaction to USDA’s weekly export CORN – Up 1 to 2 cents per bushel. * Support from larger-than-expected number for corn in USDA’s weekly export sales report and forecasts for showers… read more