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February hogs closed up $0.03 at $81.90.

February hogs closed higher on Friday due to short covering. The mid-range close sets the stage for a steady opening when Monday's day session begins trading. Stochastics and the RSI are turning neutral to bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 85.83 are needed to confirm that a low has been posted. If February extends this month's decline, the 87% retracement level of the 2013-2014-rally crossing at 76.46 is the next downside target. First resistance is the 10-day moving average crossing at 83.10. Second resistance is the 20-day moving average crossing at 85.83. First support is Wednesday's low crossing at 79.10. Second support is the 87% retracement level of the 2013-2014-rally crossing at 76.46.

February cattle closed up $1.57 at 160.10.

February cattle closed higher due to short covering on Friday but failed to fill Thursday's gap crossing at 160.95. The high-close sets the stage for a steady to higher opening when Monday's session begins trading. Stochastics and the RSI are turning neutral to bullish hinting that a short-term low might be in or is near. If February extends the decline off November's high, the 75% retracement level of the August-November-rally crossing at 154.90 is the next downside target. Closes above the 20-day moving average crossing at 164.92 are needed to confirm that a low has been posted. First resistance is Tuesday's gap crossing at 160.95. Second resistance is the 20-day moving average crossing at 164.92. First support is the 75% retracement level of the August-November-rally crossing at 154.90. Second support is the 87% retracement level of the August-November-rally crossing at 152.06.

January feeder cattle closed up $3.07 at $220.15.

January Feeder cattle gapped up and closed higher on Friday as it consolidates some of this month's decline. The high-range close sets the stage for a steady to higher opening when Monday's session begins trading. Stochastics and the RSI are oversold but are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 10-day moving average crossing at 224.64 would confirm that a low has been posted. If January resumes this month's decline, the 75% retracement level of the August-October-rally crossing at 211.36 is the next downside target. First resistance is Monday's gap crossing at 222.60. Second resistance is the 10-day moving average crossing at 224.64. First support is Thursday's low crossing at 213.00. Second support is the 75% retracement level of the August-October-rally crossing at 211.36.

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