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LIVESTOCK

June hogs closed up $0.90 at $123.25.

June hogs closed higher on Tuesday. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off April's low, the reaction high crossing at 130.60 is the next upside target. If June renews the decline off March's high, the 38% retracement level of the 2012-2014-rally crossing at 115.98 is the next downside target. First resistance is the reaction high crossing at 130.60. Second resistance is March's high crossing at 133.40. First support is the reaction low crossing at 118.55. Second support is the 38% retracement level of the 2012-2014-rally crossing at 115.98.

June cattle closed up $0.42 at 134.97.

June cattle closed higher on Tuesday. The low-range close sets the stage for a steady to lower opening when Wednesday's session begins trading. Stochastics and the RSI are oversold, diverging and are turning neutral to bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 136.07 are needed to confirm that a low has been posted. If June extends the decline off March's high, the 50% retracement level of the November-March-rally crossing at 132.75. First resistance is the 20-day moving average crossing at 136.07. Second resistance is the reaction high crossing at 137.40. First support is the 38% retracement level of the November-March-rally crossing at 134.24. Second support is the 50% retracement level of the November-March-rally crossing at 132.75.

May feeder cattle closed up $0.25 at $178.35.

May Feeder cattle closed higher on Tuesday. Today's high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends the decline off last week's high, the reaction low crossing at 176.62 is the next downside target. Closes above the 10-day moving average crossing at 179.34 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 179.34. Second resistance is last Monday's high crossing at 180.45. First support is Monday's low crossing at 177.50. Second support is the reaction low crossing at 176.62.

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