The March NASDAQ 100 closed higher on Friday as it consolidated some of Thursday's decline. The mid-range close sets the
stage for a steady opening on Monday. Stochastics and the RSI are diverging but are neutral to bullish signaling that sideways
to higher prices are possible near-term. If March extends this fall's rally, the 75% retracement level of the 2007-2008-decline on
the weekly continuation chart crossing at 1947.00 is the next upside target. Closes below last Friday's low crossing at 1719.75
would confirm that a short-term top has been posted. First resistance is today's high crossing at 1813.75. Second resistance is
the 75% retracement level of the 2007-2008-decline crossing at 1947.00. First support is the 20-day moving average crossing at
1778.31. Second support is last Friday's high crossing at 1719.75.
The March S&P 500 index closed higher due to short covering on Friday as it consolidated some of Thursday's decline. The
mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI are diverging and are turning neutral to
bearish signaling that a short-term top might be in or is near. Closes below last week's low crossing at 1073.00 would confirm
that a short-term top has been posted. If March extends this fall's rally, the 62% retracement level of the 2007-2008-decline
crossing at 1155.15 is the next upside target. First resistance is today's high crossing at 1114.00. Second resistance is the 62%
retracement level of the 2007-2008-decline crossing at 1155.15. First support is the 20-day moving average crossing at
1092.40. Second support is last week's low crossing at 1073.00.
The Dow closed higher due to short covering on Friday as it consolidated some of Thursday's decline. Today's rally was
triggered by this morning's unemployment data, which came in better than expected. However, profit taking ahead of the close
tempered early-session gains and the mid-range close sets the stage for a steady to lower opening on Monday. Stochastics and
the RSI are diverging and are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the
reaction low crossing at 10231 would confirm that a short-term top has been posted. If the Dow extends this year's rally, the
62% retracement level of the 2007-2008-decline crossing at 11249 is the next upside target. First resistance is today's high
crossing at 10516. Second resistance is the 62% retracement level of the 2007-2008-decline crossing at 11249. First support is
today's low crossing at 10311. Second support is the reaction low crossing at 10231.
INTEREST RATES
March T-bonds closed down 1-12/32's at 118-26.
March T-bonds closed sharply lower on Friday and below the 20-day moving average crossing at 119-30 confirming that a
short-term top has been posted. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the
RSI are bearish signaling that sideways to lower prices are possible near-term. If March extends this week's decline,
November's low crossing at 117-10 is the next downside target. Closes above the 10-day moving average crossing at 120-32
would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 119-30. Second
resistance is the 10-day moving average crossing at 120-32. First support is today's low crossing at 118-17. Second support is
the reaction low crossing at 117-10.
March T-bonds closed down 1-12/32's at 118-26.
March T-bonds closed sharply lower on Friday and below the 20-day moving average crossing at 119-30 confirming that a
short-term top has been posted. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the
RSI are bearish signaling that sideways to lower prices are possible near-term. If March extends this week's decline,
November's low crossing at 117-10 is the next downside target. Closes above the 10-day moving average crossing at 120-32
would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 119-30. Second
resistance is the 10-day moving average crossing at 120-32. First support is today's low crossing at 118-17. Second support is
the reaction low crossing at 117-10.
ENERGY MARKETS
January crude oil closed lower on Friday as it extends this week's decline. The low-range close sets the stage for a steady to
lower opening on Monday. If January extends the decline off October's high, the 75% retracement level of this fall's rally
crossing at 70.23 is the next downside target. Closes above the reaction high crossing at 79.92 would confirm that a short-term
low has been posted. First resistance is the 10-day moving average crossing at 76.95. Second resistance is the 20-day moving
average crossing at 77.96. First support is last Friday's low crossing at 72.39. Second support is the 75% retracement level of
this fall's rally crossing at 70.23.
January heating oil closed higher due to short covering on Friday as it consolidates above the 10-day moving average crossing at
203.13. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are neutral to
bullish signaling that sideways to higher prices are possible near-term. Closes above Tuesday's high crossing at 209.68 are
needed to confirm that a short-term low has been posted. If January renews the decline off October's high, the 75% retracement
level of this fall's rally crossing at 186.43 is the next downside target. First resistance is Tuesday's high crossing at 209.68.
Second resistance is the reaction high crossing at 212.65. First support is last Friday's low crossing at 191.03. Second support
is the 75% retracement level of this fall's rally crossing at 186.43.
January unleaded gas closed lower on Friday as it continues to extend the late-fall trading range. The mid-range close sets the
stage for a steady opening on Monday. Stochastics and the RSI are turning bearish signaling that sideways to lower prices are
possible near-term. From a broad perspective, January needs to close above October's high crossing at 211.73 or below the
reaction low crossing at 193.44 to confirm a breakout of the aforementioned trading range and point the direction of the next
trending move. First resistance is Tuesday's high crossing at 206.15. Second resistance is the reaction high crossing at 207.85.
First support is the reaction low crossing at 193.44. Second support is last Friday's low crossing at 188.90.
January Henry natural gas closed higher due to short covering on Friday as it consolidated some of this fall's decline. The mid-
range close sets the stage for a steady opening on Monday. Stochastics and the RSI remains bearish signaling that sideways to
lower prices are possible near-term. If January extends this week's decline, weekly support crossing at 4.157 is the next
downside target. Closes above the 20-day moving average crossing at 4.821 would temper the near-term bearish outlook in the
market. First resistance is the 10-day moving average crossing at 4.785. Second resistance is the 20-day moving average
crossing at 4.821. First support is Thursday's low crossing at 4.432. Second support is weekly support crossing at 4.157.
CURRENCIES
The March Dollar closed sharply higher on Friday and above the reaction high crossing at 76.03 thereby confirming that a
short-term low has been posted. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and
the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends this
week's rally, the reaction high crossing at 76.50 is the next upside target. If March renews this year's decline, weekly support
crossing at 73.39 is the next downside target. First resistance is today's high crossing at 76.33. Second resistance is the reaction
high crossing at 76.50. First support is the 20-day moving average crossing at 75.46. Second support is last Wednesday's low
crossing at 74.21.
The March Euro closed sharply lower on Friday and below the 20-day moving average crossing at 149.512. The low-range
close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are turning bearish signaling that
sideways to lower prices are possible near-term. Closes below the reaction low crossing at 148.200 would confirm that a short-
term top has been posted. If March extends this year's rally, the 87% retracement level of 2008's decline on the weekly
continuation chart crossing at 151.492 is the next upside target. First resistance is the 20-day moving average crossing at
149.513. Second resistance is Thursday's high crossing at 151.370. First support is today's low crossing at 150.390. Second
support is the reaction low crossing at 147.880.
The March British Pound closed lower due to profit taking on Friday as it consolidated some of this week's rally. The low-range
close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are turning neutral signaling that
sideways prices are possible near-term. If March renews this week's rally, November's high crossing at 1.6850 is the next
upside target. If March renews the decline off November's high, October's low crossing at 1.5718 is the next downside target.
First resistance is last Monday's high crossing at 1.6731. Second resistance is November's high crossing at 1.6850. First
support is last week's low crossing at 1.6263. Second support is October's low crossing at 1.5718.
The March Swiss Franc closed sharply lower on Friday and below last Friday's low crossing at .9843 confirming that a short-
term top has been posted. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI
are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends this week's
decline, November's low crossing at .9690 is the next downside target. Closes above November's high crossing at .10067 would
confirm that a short-term low has been posted. First resistance is November's high crossing at .10067. Second resistance is the
2008 high crossing at .10400. First support is today's low crossing at .9820. Second support is the reaction low crossing at
.9791.
The March Canadian Dollar closed lower due to profit taking on Friday and the low-range close sets the stage for a steady to
lower opening on Monday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible
near-term. If March renews last week's rally, October's high crossing at 97.92 is the next upside target. Closes below last
Friday's low crossing at 93.05 are needed to confirm that a short-term top has been posted. First resistance is Tuesday's high
crossing at 96.08. Second resistance is October's high crossing at 97.92. First support is last Friday's low crossing at 93.00.
Second support is November's low crossing at 92.17.
The March Japanese Yen closed sharply lower on Friday and below the 20-day moving average crossing at .11269 confirming
that a short-term top has been posted. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics
and the RSI are bearish signaling that additional weakness is possible. If March extends this week's decline, October's low
crossing at .10847 is the next downside target. Closes above the 10-day moving average crossing at .11374 are needed to
confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at .11269. Second
resistance is the 10-day moving average crossing at .11374. First support is today's low crossing at .11024. Second support is
October's low crossing at .10847.
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PRECIOUS METALS
February gold closed sharply lower on Friday due to profit taking as it consolidated some of this year's rally. The low-range
close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are overbought and are turning neutral to
bearish signaling that additional weakness is possible near-term. Closes below the 20-day moving average crossing at 1151.50
are needed to confirm that a short-term top has been posted. If February extends this year's rally into uncharted territory, upside
targets will be hard to project. First resistance is Thursday's high crossing at 1227.50. First support is the 20-day moving
average crossing at 1151.50. Second support is the reaction low crossing at 1125.80.
March silver closed lower due to profit taking on Friday as it consolidated some of this month's rally. The mid-range close sets
the stage for a steady opening on Monday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that
sideways to higher prices are possible near-term. If March extends this month's rally, the July 2008 high crossing at 20.125 is
the next upside target. Closes below the 20-day moving average crossing at 18.286 are needed to confirm that a short-term top
has been posted. First resistance is Thursday's high crossing at 19.500. Second resistance is the July 2008 high crossing at
20.125. First support is the 20-day moving average crossing at 18.286. Second support is the reaction low crossing at 17.720.
March copper closed lower due to profit taking on Friday but remains above the 75% retracement level of the 2008 decline
crossing at 317.13. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are
overbought but are neutral to bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving
average crossing at 311.46 are needed to confirm that a top has been posted. If December extends this year's rally, the 87%
retracement level of the 2008-decline crossing at 347.94 is the next upside target. First resistance is today's high crossing at
327.50. Second resistance is the 87% retracement level of the 2008-decline crossing at 347.94. First support is the 10-day
moving average crossing at 318.73. Second support is the 20-day moving average crossing at 311.46.
FOOD & FIBER
March coffee closed sharply lower due to profit taking on Friday as it consolidated some of this week's rally. The low-range
close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are overbought and turning neutral
hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 13.91 are needed to
confirm that a short-term top has been posted. If December extends this week's rally, the reaction high crossing at 14.68 is the
next upside target.
March cocoa closed slightly higher on Friday as it extended the rally off November's low. The mid-range close sets the stage for
a steady opening on Monday. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near-
term. If March extends this week's rally, October's high crossing at 34.39 is the next upside target. Closes below the 20-day
moving average crossing at 32.47 would confirm that a short-term top has been posted.
March sugar closed lower due to profit taking on Friday and below the 10-day moving average crossing at 22.56 tempering the
near-term friendly outlook. The low-range close set the stage for a steady to lower opening on Monday. Stochastics and the RSI
are neutral signaling that sideways to lower prices are possible near-term. If March extends this week's rally, the reaction high
crossing at 23.67 is the next upside target.
March cotton closed lower due to profit taking on Friday the low-range close sets the stage for a steady to lower opening on
Monday. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-term. Closes below
the 20-day moving average crossing at 73.01 would confirm that a short-term top has been posted. If March extends this fall's
rally, the 62% retracement level of the 2008-decline crossing at 80.83 is the next upside target
.
GRAINS
March Corn closed down 12 1/4-cents at 3.88 1/2.
March corn closed lower due to profit taking on Friday and below the previous reaction low crossing at 3.90 3/4. The low-range
close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are bearish signaling that sideways to
lower prices are possible near-term. March corn is range bound however, the door is open for a test of trading range support
crossing at 3.77 1/2 possibly next week. Closes above 4.24 1/2 or below 3.77 1/2 are needed to confirm a trading range
breakout and point the direction of the next trending move. First resistance is the 20-day moving average crossing at 4.06.
Second resistance is the reaction high crossing at 4.24 1/2. First support is today's low crossing at 3.88. Second support is the
reaction low crossing at 3.77 1/2.
March wheat closed down 13 1/2-cents at 5.58.
March wheat gapped down and closed below the 20-day moving average crossing at 5.67 1/2 on Friday confirming that a short-
term top has been posted. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI
remain bearish signaling that sideways to lower prices are possible near-term. If March extends this week's decline, the reaction
low crossing at 5.52 1/2 is the next downside target. Closes above the 10-day moving average crossing at 5.73 1/4 are needed to
confirm that a short-term low has been posted. First resistance is today's gap crossing at 5.70. Second resistance is the 10-day
moving average crossing at 5.73 1/4. First support is today's low crossing at 5.57. Second support is the reaction low crossing
at 5.52 1/2.
March Kansas City Wheat closed down 13-cents at 5.49.
March Kansas City Wheat closed lower on Friday and below the 20-day moving average. The low-range close sets the stage for
a steady to lower opening on Monday. Stochastics and the RSI remain bearish signaling that sideways to lower prices are
possible near-term. Closes below last Tuesday's low crossing at 5.44 would confirm that a short-term top has been posted. If
March renews this month's rally, August's high crossing at 6.03 is the next upside target. First resistance is Tuesday's high
crossing at 5.86. Second resistance is November's high crossing at 5.94 1/2. First support is last Tuesday's low crossing at
5.44. Second support is the reaction low crossing at 5.18.
March Minneapolis wheat closed down 14 1/4-cents at 5.63.
March Minneapolis wheat closed lower due to profit taking on Friday and the low-range close sets the stage for a steady to
lower opening on Monday. Stochastics and the RSI are bearish signaling that additional weakness is possible near-term. Closes
below the reaction low crossing at 5.56 1/4 would confirm that a short-term top has been posted. If March renews this fall's
rally, the 38% retracement level of this summer's decline crossing at 6.05 is the next upside target. First resistance is Tuesday's
high crossing at 5.97 1/4. Second resistance is November's high crossing at 6.03 3/4. First support is today's low crossing at
5.62. Second support is the reaction low crossing at 5.56 1/4.
SOYBEAN COMPLEX
January soybeans closed down 4-cents at 10.43.
January soybeans closed lower due to profit taking on Friday but remains below the 10-day moving average crossing at 10.48
1/2. The mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI are bearish hinting that
sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 10.21 3/4 would confirm
that a short-term top has been posted. If January extends this fall's rally, June's high crossing at 11.04 is the next upside target.
First resistance is Tuesday's high crossing at 10.78. Second resistance is June's high crossing at 11.04. First support is today's
low crossing at 10.31. Second support is the 20-day moving average crossing at 10.21 3/4.
March soybean meal closed down $2.60 at $306.40.
March soybean meal closed lower due to profit taking on Friday but the high-range close sets the stage for a steady to higher
opening on Monday. Stochastics and the RSI are overbought and are turning bearish signaling that sideways to lower prices are
possible near-term. Closes below the 20-day moving average crossing at 297.30 would confirm that a short-term top has been
posted. If March extends this fall's rally, June's high crossing at 333.00 is the next upside target. First resistance is Tuesday's
high crossing at 313.50. Second resistance is June's high crossing at 333.00. First support is Wednesday's low crossing at
300.50. Second support is the 20-day moving average crossing at 297.30.
March soybean oil closed unchanged at 40.52.
March soybean oil closed unchanged on Friday as it consolidated some of Wednesday's decline. The mid-range close sets the
stage for a steady opening on Monday. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible
near-term. Closes below the 20-day moving average crossing at 40.08 are needed to confirm that a short-term top has been
posted. If March renews this fall's rally, June's high crossing at 41.80 is the next upside target. First resistance is Tuesday's
high crossing at 41.74. Second resistance is June's high crossing at 41.80. First support is Thursday's low crossing at 40.26.
Second support is the 20-day moving average crossing at 40.08.
GRAINS
March Corn closed down 12 1/4-cents at 3.88 1/2.
March corn closed lower due to profit taking on Friday and below the previous reaction low crossing at 3.90 3/4. The low-range
close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are bearish signaling that sideways to
lower prices are possible near-term. March corn is range bound however, the door is open for a test of trading range support
crossing at 3.77 1/2 possibly next week. Closes above 4.24 1/2 or below 3.77 1/2 are needed to confirm a trading range
breakout and point the direction of the next trending move. First resistance is the 20-day moving average crossing at 4.06.
Second resistance is the reaction high crossing at 4.24 1/2. First support is today's low crossing at 3.88. Second support is the
reaction low crossing at 3.77 1/2.
March wheat closed down 13 1/2-cents at 5.58.
March wheat gapped down and closed below the 20-day moving average crossing at 5.67 1/2 on Friday confirming that a short-
term top has been posted. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI
remain bearish signaling that sideways to lower prices are possible near-term. If March extends this week's decline, the reaction
low crossing at 5.52 1/2 is the next downside target. Closes above the 10-day moving average crossing at 5.73 1/4 are needed to
confirm that a short-term low has been posted. First resistance is today's gap crossing at 5.70. Second resistance is the 10-day
moving average crossing at 5.73 1/4. First support is today's low crossing at 5.57. Second support is the reaction low crossing
at 5.52 1/2.
March Kansas City Wheat closed down 13-cents at 5.49.
March Kansas City Wheat closed lower on Friday and below the 20-day moving average. The low-range close sets the stage for
a steady to lower opening on Monday. Stochastics and the RSI remain bearish signaling that sideways to lower prices are
possible near-term. Closes below last Tuesday's low crossing at 5.44 would confirm that a short-term top has been posted. If
March renews this month's rally, August's high crossing at 6.03 is the next upside target. First resistance is Tuesday's high
crossing at 5.86. Second resistance is November's high crossing at 5.94 1/2. First support is last Tuesday's low crossing at
5.44. Second support is the reaction low crossing at 5.18.
March Minneapolis wheat closed down 14 1/4-cents at 5.63.
March Minneapolis wheat closed lower due to profit taking on Friday and the low-range close sets the stage for a steady to
lower opening on Monday. Stochastics and the RSI are bearish signaling that additional weakness is possible near-term. Closes
below the reaction low crossing at 5.56 1/4 would confirm that a short-term top has been posted. If March renews this fall's
rally, the 38% retracement level of this summer's decline crossing at 6.05 is the next upside target. First resistance is Tuesday's
high crossing at 5.97 1/4. Second resistance is November's high crossing at 6.03 3/4. First support is today's low crossing at
5.62. Second support is the reaction low crossing at 5.56 1/4.
SOYBEAN COMPLEX
January soybeans closed down 4-cents at 10.43.
January soybeans closed lower due to profit taking on Friday but remains below the 10-day moving average crossing at 10.48
1/2. The mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI are bearish hinting that
sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 10.21 3/4 would confirm
that a short-term top has been posted. If January extends this fall's rally, June's high crossing at 11.04 is the next upside target.
First resistance is Tuesday's high crossing at 10.78. Second resistance is June's high crossing at 11.04. First support is today's
low crossing at 10.31. Second support is the 20-day moving average crossing at 10.21 3/4.
March soybean meal closed down $2.60 at $306.40.
March soybean meal closed lower due to profit taking on Friday but the high-range close sets the stage for a steady to higher
opening on Monday. Stochastics and the RSI are overbought and are turning bearish signaling that sideways to lower prices are
possible near-term. Closes below the 20-day moving average crossing at 297.30 would confirm that a short-term top has been
posted. If March extends this fall's rally, June's high crossing at 333.00 is the next upside target. First resistance is Tuesday's
high crossing at 313.50. Second resistance is June's high crossing at 333.00. First support is Wednesday's low crossing at
300.50. Second support is the 20-day moving average crossing at 297.30.
March soybean oil closed unchanged at 40.52.
March soybean oil closed unchanged on Friday as it consolidated some of Wednesday's decline. The mid-range close sets the
stage for a steady opening on Monday. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible
near-term. Closes below the 20-day moving average crossing at 40.08 are needed to confirm that a short-term top has been
posted. If March renews this fall's rally, June's high crossing at 41.80 is the next upside target. First resistance is Tuesday's
high crossing at 41.74. Second resistance is June's high crossing at 41.80. First support is Thursday's low crossing at 40.26.
Second support is the 20-day moving average crossing at 40.08.
LIVESTOCK
February hogs closed up $1.45 at $66.75.
February hogs closed higher due to short covering on Friday as it consolidated some of Thursday's decline. The high-range
close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are turning bearish signaling that
sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 64.65 are needed to
confirm that a short-term top has been posted. If March extends this fall's rally, the 62% retracement level of the 2008-2009-
decline crossing at 70.67 is the next upside target. First resistance is the reaction high crossing at 68.05. Second resistance is the
62% retracement level of the 2008-2009-decline crossing at 70.67. First support is Thursday's low crossing at 65.20. Second
support is the 20-day moving average crossing at 64.65.
February bellies closed up $1.72 at $82.80.
February bellies posted a key reversal up due to short covering on Friday as it consolidated some of this week's decline. The
high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI remain bearish signaling that
sideways to lower prices are possible near-term. If February extends this week's decline, the reaction low crossing at 79.25 is
the next downside target. Closes above the 20-day moving average crossing at 85.73 would confirm that a low has been posted.
First resistance is the 10-day moving average crossing at 85.02. Second resistance is the 20-day moving average crossing at
85.73. First support is today's low crossing at 80.50. Second support is the reaction low crossing at 79.25.
February cattle closed up $0.30 at 83.20.
February cattle closed higher due to short covering on Friday as it consolidated some of this week's decline. The mid-range
close sets the stage for a steady opening on Monday. Stochastics and the RSI are oversold but remain bearish signaling that
sideways to lower prices are possible near-term. If February extends this month's decline, weekly support crossing at 81.80 is
the next downside target. Closes above the 20-day moving average crossing at 85.24 are needed to confirm that a short-term low
has been posted. First resistance is the 10-day moving average crossing at 84.89. Second resistance is the 20-day moving
average crossing at 85.24. First support is Thursday's low crossing at 82.75. Second support is weekly support crossing at
81.80.
January feeder cattle closed up $0.25 at $93.35.
January Feeder cattle closed higher on Friday and above the 20-day moving average crossing at 93.26. The low-range close sets
the stage for a steady to lower opening on Monday. Stochastics and the RSI remain bullish signaling that sideways to higher
prices are possible near-term. If January extends this week's rally, gap resistance crossing at 94.68 is the next upside target.
Closes below the reaction low crossing at 91.90 would temper the friendly outlook.
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