ENERGY
CRUDE OIL closed higher on Monday and the highrange close sets the stage for a steady to higher opening when Tuesday's night session begins. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible nearterm. If it renews the rally off June's low, the 38% retracement level of this year's decline crossing is the next upside target. Closes below the 20day moving average crossing would temper the nearterm friendly outlook.
NATURAL GAS closed lower due to profit taking on Monday and the lowrange close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are neutral to bearish signalling that sideways to lower prices are possible nearterm. Multiple closes below the 20day moving average crossing are needed to confirm that a shortterm top has been posted. If it renews the rally off June's low, February's high crossing is the next upside target.
FX - EURO
The EURO closed higher due to short covering on Monday and the highrange close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible nearterm. If it extends this year's decline, monthly support crossing is the next downside target. Closes above the 20day moving average crossing would signal that a low has been posted.
FX - YEN
The YEN closed lower on Monday and the lowrange close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible nearterm. If it extends today's decline, the reaction low crossing is the next downside target. If it renews the rally off this month's low, the 50% retracement level of the March June decline crossing is the next upside target.
FX - SWISS FRANC
The SWISS FRANC closed lower on Monday and the lowrange close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish hinting that a high might be in or is near. Closes below the 20day moving average crossing are needed to confirm that a shortterm high has been posted. If it extends the rally off June's low, monthly support crossing is the next upside target.
FX - STERLING
STERLING closed higher on Monday and the highrange close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are turning bullish hinting that sideways to higher prices are possible nearterm. If it extends the decline off June's high, June's low crossing is the next downside target.
BULLION - GOLD
SPOT GOLD closed higher on Monday and the highrange close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signalling that sideways to lower prices are possible nearterm. If it extends this month's decline, the reaction low crossing is the next downside target. Multiple closes above the 20day moving average crossing would confirm that a shortterm low has been posted.
BULLION - SILVER
SPOT SILVER closed higher on Monday however; the highrange close set the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are bullish hinting that a low might be in or is near. If it renews the rally off June's low, June's high crossing is the next upside target. If it extends this month's decline, June's low crossing is the next downside target.
INDICIES - DOW JONES
Dow Jones Futures closed lower due to profit taking on Monday as it consolidates some of last Friday's rally. The midrange close sets the stage for a steady opening on Tuesday. Stochastics and the RSI are turning neutral to bullish signalling that sideways to higher prices are possible nearterm. Closes above the reaction high crossing would confirm that a shortterm low has been posted. If the Dow renews last week's decline, the reaction low crossing is the next downside target.
INDICIES - NASDAQ
NASDAQ Futures closed lower on Monday and the midrange close sets the stage for a steady opening when Tuesday's night session begins trading. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible nearterm. If it extends last week's decline, the reaction low crossing is the next downside target. Closes above the 10day moving average crossing would temper the bearish outlook.
INDICIES - S&P 500
S&P 500 Futures closed lower on Monday and the midrange close sets the stage for a steady opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signalling that sideways to higher prices are possible nearterm. Closes below last Thursday's low crossing would confirm a trend change while opening the door for a test of the reaction low crossing.
COMMODITIES - COFFEE
COFFEE Futures close lower on Monday and the lowrange close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are neutral to bearish hinting that a shortterm top might be in or is near. Closes below the 20day moving average crossing would temper the nearterm friendly outlook. If it extend this rally, April's high crossing is the next upside target.
