Wednesday’s Key Prices

2023-05-31T05:17:06-05:00May 31st, 2023|Charts|

I went through all the markets I cover in Monthly Analysis and found 10 that could complete long-term reversal patterns Wednesday and 1 (Lean Hogs Cash Index) that had already posted a new 4-month high during May. In the corn [...]

Dec Corn: The First Step

2023-05-18T15:27:59-05:00May 18th, 2023|Charts|

I know we haven't reached the end of the month yet, but as I mentioned in Thursday's Afternoon Commentary a number of markets are in position for possible bullish long-term reversal patterns. As always, I'm keeping a close eye on [...]

July Corn: Short-Term Turn

2023-04-25T15:19:49-05:00April 25th, 2023|Charts|

July corn completed a bullish reversal pattern on its daily chart, confirming a new minor (short-term) uptrend is in place. This move coincided with daily stochastics establishing a bullish crossover below the oversold level of 20% meaning a new minor [...]

July Soybeans: Breakout

2023-04-24T15:29:32-05:00April 24th, 2023|Charts|

Last Friday saw the July soybean contract complete its double-top formation at $15.0050 (April 3) and $15.01 (April 18). This created a top near $15.0075 with the interim low at $14.5575, a 45.0 cent range. Once the contract posted a [...]

US Dollar Index: New Lows

2023-04-14T08:23:11-05:00April 14th, 2023|Charts|

As I mentioned in Friday's Morning Commentary, the US dollar index extended its major (long-term) 3-wave downtrend below this past February's low of 100.82, hitting a mark of 100.78 overnight through early Friday morning. This tells us the index is [...]

Live Cattle: Running Wild

2023-04-11T15:08:58-05:00April 11th, 2023|Charts|

As I mentioned in Tuesday's Afternoon Commentary, the nearby April live cattle contract posted a new all-time market high as it hit $172.475 before closing at $172.30. This was up $0.925 for the day with April gaining $0.675 on June. [...]

July Corn: A Big Boost

2023-04-10T15:33:02-05:00April 10th, 2023|Charts|

As discussed in Monday's Afternoon Commentary, July corn posted a strong rally over the course of the day. This sets up a number of possible technical patterns. First, not the low of $6.1575 was a test of the 61.8% retracement [...]

May Corn: 4 x 4

2023-02-23T15:03:29-06:00February 23rd, 2023|Charts|

As I mentioned in Thursday's Afternoon Commentary, it was a bearish day for the corn market. Leading the pack was the May issue as it registered a whopping 258,800 contracts (preliminary) changing hands. As the day progressed, May corn took [...]

April Gold: Gold Fish

2023-02-08T09:22:38-06:00February 8th, 2023|Charts|

As mentioned in Wednesday's Morning Commentary the April gold contract is in position for a couple different possibilities today: First, a higher daily close would be its third consecutive against the ongoing minor (short-term) downtrend that began with the bearish [...]

Euro: Down For a While

2023-02-06T07:18:21-06:00February 6th, 2023|Charts|

As I mentioned in Monday's Morning Commentary, the euro completed a bearish key reversal on its weekly chart last week, confirming it has moved into a secondary (intermediate-term) downtrend. This also confirmed the latest bearish crossover by weekly stochastics above [...]

May Coffee: A Foamy Top

2023-02-01T13:25:49-06:00February 1st, 2023|Charts|

I had a question come in about May coffee, and my friend was spot-on about the contract completing a topping pattern on its daily chart. After posting a new high for the move of 184.00 early Wednesday, the contract collapsed [...]

Markets to Watch

2023-01-27T08:28:46-06:00January 27th, 2023|Charts|

As I mentioned in Morning Commentary, there are a number of markets to watch Friday for potential reversal patterns on weekly charts. USDX: A bullish spike reversal if if closes above last week's settlement of 102.01 Weekly stochastics posted a [...]

July KC Wheat: Follow-Up

2023-01-26T15:12:47-06:00January 26th, 2023|Charts|

During one of my market conversations Thursday, I actually made the comment that Kansas City wheat was following its technical patterns well. Having been around the HRW wheat market all my life, a chill immediately went down my spine after [...]

March S&P 500 Futures

2023-01-24T07:30:09-06:00January 24th, 2023|Charts|

I had a request for an updated look at the daily chart for March S&P 500 futures (ESH3) following the combined rally of last Friday through this past Monday. As always, I appreciate the input and feedback from all of [...]

March Corn: The Next Wave

2022-12-22T08:18:07-06:00December 22nd, 2022|Charts|

As mentioned in Morning Commentary, it's possible March corn posted a Wave 3 peak of its 5-wave minor (short-term) uptrend overnight. The contract hit a high of $6.4475, a solid test of the upside target near $6.4425, the 38.2% retracement [...]

S&P 500 and The Comedy Club

2022-12-21T03:53:01-06:00December 21st, 2022|Charts|

If nothing else, financial television is good for a laugh. In fact, one could make the argument there are better comedy writers on some of these networks these days than those that actually have programs actually classified as situation comedies [...]

March Corn: A Bit Sneaky

2022-12-07T06:22:59-06:00December 7th, 2022|Charts|

As I mentioned in Morning Commentary, it is possible we could see the March corn contract post a bullish reversal pattern on its short-term daily chart Wednesday. March was a bit sneaky Tuesday, as its daily stochastics almost imperceptibly established [...]

Euro: Short-Term Turn

2022-11-23T05:08:35-06:00November 23rd, 2022|Charts|

In my piece for Barchart Tuesday I focused on the US dollar index. The flip side of the global coin is the euro, and a look at the various charts shows downtrends are in place on both the short-term daily [...]

Crude Oil: Talking Crude

2022-11-22T07:15:23-06:00November 22nd, 2022|Charts|

An initial look at the daily chart for crude oil and one sees what could be classified as a spike reversal during Monday's session. The spot-month contract dropped to a low of $75.77 before closing at $80.04, still down $0.04 [...]

Currencies Currently

2022-11-10T08:39:04-06:00November 10th, 2022|Charts|

It has been an active morning for global currencies (slide 1), with much of the excitement occurring following the release of US Consumer Price Index data for October. The US dollar index (slide 2) has already posted an outside trading [...]

Euro: Short-Term Slide

2022-10-27T07:20:20-05:00October 27th, 2022|Charts|

As I mentioned in Thursday's Morning Commentary, the US dollar index looks like it could be putting in a short-term bottom on its daily chart. The flip-side of the global coin is the euro, and its daily chart is showing [...]

Lumber: Slumbering no More

2022-10-20T07:00:29-05:00October 20th, 2022|Charts|

It took a while, but the nearby November lumber contract finally completed a bullish reversal on the market's continuous (nearby futures) weekly chart. Wednesday's session saw November hit a high of $540.00 (per 1,000 board feet), taking out the previous [...]

Boxed Beef: Tenderized

2022-10-03T07:28:58-05:00October 3rd, 2022|Charts|

September was a tough month for the boxed beef market as both choice and select took a beating. For the record: Choice reportedly finished the month at $243.75 as compared to the end of August price of $258.34 and September [...]

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