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 turning neutral to bullish signalling that sideways to higher prices are possible nearterm. If it renews the rally off June's low, the 50% retracement level of this year's decline crossing is the next upside target.
NATURAL GAS closed higher on Monday and The highrange close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible nearterm. If it extends the decline off July's high, the reaction low crossing is the next downside target. Closes above the 10day moving average crossing would temper the nearterm bearish outlook.
FX - EURO
The EURO closed higher on Monday as it extends the rally off July's low. The midrange close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are turning neutral to bullish signalling that sideways to higher prices are possible nearterm. If it renews the rally off July's low, the reaction high crossing is the next upside target. If it renews this year's decline, monthly support crossing is the next downside target.
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 bullish hinting that a shortterm bottom might be in or is near. Closes above the 20day moving average crossing would confirm that a shortterm bottom has been posted. If it renews the decline off June's high, June's low crossing is the next upside target.
FX - SWISS FRANC
The SWISS FRANC closed lower on Monday and the midrange 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 signalling that sideways to lower prices are possible nearterm. If it extends the decline off July's high, the reaction low crossing is the next downside target. If it renews this year's rally, monthly resistance crossing is the next upside target.
FX - STERLING
STERLING 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 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.
BULLION - GOLD
SPOT GOLD closed higher on Monday as it consolidated some of last week's decline. The midrange close sets the stage for a steady opening when Tuesday's night session begins trading. Stochastics and the RSI are 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.
BULLION - SILVER
SPOT SILVER closed higher on Monday as it extends this summer's trading range. The highrange close set the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signalling that sideways to lower prices are possible nearterm. If it renews this week's decline, July's low crossing is the next downside target. If it renews the rally off June's low, June's high crossing is the next upside target.
INDICIES - DOW JONES
Dow Jones Futures closed higher on Monday and tested the 87% retracement level of the May June decline crossing extending the rally off June's low. Today's lowerrange close sets the stage for a steady to lower opening on Tuesday. If the Dow extends the aforementioned rally, May's high crossing it the next upside objective. Closes below the 20day moving average crossing would confirm that a shortterm top has been posted.
INDICIES - NASDAQ
NASDAQ Futures closed higher on Monday as it extends the rally off June's low. The midrange close sets the stage for a steady opening when Tuesday's night session begins trading. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible nearterm. If it extends the rally off June's low, May's high crossing is the next upside target. Closes below the 20day moving average crossing would confirm that a shortterm top has been posted.
INDICIES - S&P 500
S&P 500 Futures closed higher on Monday as it extends the rally off June's low. The lowrange close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are neutral to bullish signalling that sideway to higher prices are possible nearterm. If it extends the rally off June's low, March's high crossing is the next upside target. Closes below the 20day moving average crossing would confirm that a shortterm top has been posted.
COMMODITIES - COFFEE
COFFEE Futures close higher on Monday as it consolidates some of the decline off July's high. The midrange close sets the stage for a steady opening on Tuesday. Stochastics and the RSI are oversold but remain neutral to bearish signalling that additional weakness is possible. If it extends the decline off July's high, the reaction low crossing is the next downside target. Closes above the 20day moving average crossing would temper the nearterm bearish outlook.
