(6722) The DAX failed yet to extend the correction above 6822 plunging instead again toward the support at 6670 that limited the decline. While above this level, that is the 50% retracement of the move up 6536 – 6821, we expect the DAX to resume the move up. Only a break below 6640 will cause further weakness. Continue Reading…

May soybeans were trading 14 1/2 cents higher late in the overnight session. China futures were down 0.2% overnight. Palm oil futures in Malaysia closed down 0.1% overnight. Equity markets in Australia and Hong Kong were higher overnight, with rumors that the PBOC might be set to provide some liquidity to its economy. Continue Reading…

May natural gas prices traded higher during the overnight session but reversed course during the early morning hours. The relatively tight range and choppy trading action come in anticipation of today’s EIA natural gas storage report. Continue Reading…

At first glance the silver charts appear to present a market that is coiling for some type of decision ahead. The bull camp might suggest that the capacity to respect support around $31.30 hints at some form of value zone. Continue Reading…

July cocoa has found moderate pressure this morning as prices have fallen further below yesterday’s highs for the move. A flare-up of Euro zone debt anxiety this morning has led to additional profit-taking in cocoa, which remains more than $160 above last week’s lows. Continue Reading…

June crude oil prices took on a higher track during the early morning hours but remained in the lower half of yesterday’s downdraft. Early support for the crude oil market comes from well-received debt auctions in France and Spain and a rally in equity markets. Continue Reading…

May wheat was trading 8 3/4 cents higher late in the overnight session. Outside market forces look mixed as a strong USD clashes with a strong US stock market. Ideas that the market is oversold plus short-covering from fund traders helped to support the bounce overnight. Continue Reading…

The market pushed sharply higher on the session yesterday and July cotton has seen a rally of as much as 570 points from Monday’s lows. Marco economic forces seem to be providing some strong support to the market today but outside forces were negative yesterday and many agricultural markets were under pressure. Continue Reading…

While US Treasury bond prices enter the trade today sitting roughly 1 point under their recent highs, the bull camp might feel somewhat confident considering that prices have generally held up in the face of a somewhat noted improvement in overall global macro economic sentiment. In fact, Treasury prices might have been under even more pressure this morning in the wake of what might be seen as an acceptable Spanish auction. Continue Reading…

While the bear camp might be cheered by the lower low initially forged on the charts overnight, gold prices have managed to right the ship and claw back into positive ground in the wake of the Spanish auction results. Continue Reading…