Nat Gas Turned On High
Natural gas gapped above its recent, expanded consolidation range and is trading
at a fresh contract high. Natural gas’s turnaround late session left the contract
at a new closing record Monday and gave it the inertia to register on Tuesday’s Momentum-5
List, a strong tip-off to today’s fresh high.Â
After a two-day, 128-point drop, cocoa was due for a
correction. Cocoa had dropped to a fresh 20-day low, making it a
Turtle Soup Plus One Buy
setup. The September contract is trading just above its 835
trigger. Â
Although they are moving down from opening levels, soybeans
and soybean oil gapped open to make good on their Turtle Soup Plus One Buy
reversals as well, coming off multi-month or contract lows.
From the Momentum-5
and Pullback From Highs
lists, orange juice gapped above its pullback-entry trigger (above the high of
the three-bar pullback low bar) and is in rally-mode. This contract got stuck at
its year-to-date high at 88.40 and is pulling back into Tuesday’s range.Â
From the Implosion-5 List,
cotton is tumbling for a sixth straight day and to its lowest level of the
year.Â