Heating Fuels Melting
Heating fuels are down as forecasts for warm weather are lowering demand
expectations. Natural gas
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PowerRating)
gapped lower out of its Pullback From
Lows setup and is trading at opening levels in a narrow range down 5.24%
or .372 to 6.730.Â
Heating oil
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also falling but just triggered its Pullback From
Lows entry after trading below the low of the high bar of a 1-2-3-4 pullback
setup.Â
Pork contracts are down sharply, despite
pre-market reports suggesting prices would rise on strong packer demand.
February lean hogs
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PowerRating) have been trading in a narrowing range
and gapped lower out of a triangle. Hogs also fell after registering on the Pullback From Lows List.
February pork bellies
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PowerRating) are down 1.600 at 66.850.
A Pullback From
Low signal in cotton
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also working out, with the March contract moving to a new six-month low, down
1.01 to 58.35.