S&P 500
2003.37
+6.63 +0.33%
Dow Indu
17098.45
+18.88 +0.11%
Nasdaq
4579.40
+21.71 +0.47%
Crude Oil
95.19
-0.67 -0.70%
Gold
1271.04
-12.49 -0.97%
Euro
1.31164
-0.00026 -0.02%
US Dollar
82.956
+0.185 +0.24%
Weak

Market Commentary

Currencies | Energy | Food | Grains | Indexes | Interest | Livestock | Metals

INO.com’s Daily Market Analysis

It’s free, informative, and will help you prepare and plan for the next trading day, while getting a jump on changing market conditions.

Privacy Policy

LIVESTOCK

October hogs closed up $2.65 at $98.12.

October hogs gapped up and closed above the 20-day moving average crossing at 96.95 on Friday confirming that a short-term low has been posted. Today's high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closed below the 10-day moving average crossing at 94.70 would confirm that a short-term top has been posted. First resistance is today's high crossing at 98.45. Second resistance is the reaction high crossing at 104.37. First support is the 62% retracement level of the 2013-2014-rally crossing at 92.56. Second support is the 75% retracement level of the 2013-2014-rally crossing at 87.04.

October cattle closed up $2.27 at 150.10.

October cattle closed higher on Friday extending yesterday's breakout above the 20-day moving average confirming that a low has been posted. The high-range close sets the stage for a steady to higher opening when Tuesday's session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If October extends this week's rally, the August 8th gap crossing at 152.95 is the next upside target. Closes below the 10-day moving average crossing at 147.95 would confirm that a short-term top has been posted. First resistance is today's high crossing at 151.50. Second resistance is the August 8th gap crossing at 152.95. First support is the 50% retracement level of the 2013-2014-rally crossing at 144.00. Second support is the 62% retracement level of the 2013-2014-rally crossing at 140.05.

October feeder cattle closed up $1.95 at $216.72.

October Feeder cattle closed higher on Friday extending yesterday's breakout above the 20-day moving average. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If October extends this week's rally, August's high crossing at 220.30 is the next upside target. If October renews the decline off July's high, the reaction low crossing at 205.70 is the next downside target. First resistance is today's high crossing at 216.75. Second resistance is August's high crossing at 220.30. First support is last Thursday's low crossing at 207.75. Second support is the reaction low crossing at 205.70.

INO.com on Facebook INO.com MarketClub on Twitter INO.com on Google+ INO.com YouTube

© Copyright INO.com, Inc. All Rights Reserved.