Thursday’s Futures Setups
Soybeans
(
SF2 |
Quote |
Chart |
News |
PowerRating) and soymeal
(
SMZ1 |
Quote |
Chart |
News |
PowerRating) both fell today, making ten-day lows.
Cotton
(
CTH2 |
Quote |
Chart |
News |
PowerRating) followed through after its
outside day yesterday, and looks poised to continue is ascent. This Pullbacks
From Highs member seems serious about its current trend reversal. Cotton
made 20-year lows in late October.
Crude oil traded in an inside day, out of the Haggerty 1-2-3 mentioned
Tuesday. A key December 10 meeting between the Russian government and the
country’s oil companies may determine next year’s oil output. A large cut may
influence other non-OPEC countries to do the same.
In a extremely wide-range day, natural gas
(
NGZ1 |
Quote |
Chart |
News |
PowerRating) made a five-year low, but closed off its lows.
Gold
(
GCZ1 |
Quote |
Chart |
News |
PowerRating), on the 6/100 Low Volatility
List, is pulling back from lows. Silver
(
SIZ1 |
Quote |
Chart |
News |
PowerRating), on the Volatility
Explosions – Low 6/100 Readings list, may follow-through from today’s gap
up. Copper
(
HGZ1 |
Quote |
Chart |
News |
PowerRating) paused today near the August 28-29 swing high resistance.
If this Momentum
5 list component can take out this resistance, higher prices are in
store.
| Contract | Setup |
Direction |
Trigger |
| Cotton (CTH2) | Gap out of consolidation |
up |
above 38 |
Soy
|
Trading near support |
down |
below 155.60 |
| Heating oil ( HOZ1 | Quote | Chart | News | PowerRating) |
Pullback from lows |
down |
below 52.20 |
Canadian
|
Haggerty 1-2-3 |
up |
above 63.16 |
Define the risk before every
trade and honor your stops.