Tuesday’s Futures Setups
Bonds
(
USH2 |
Quote |
Chart |
News |
PowerRating) and 10-year notes
(
TYH2 |
Quote |
Chart |
News |
PowerRating)
both staged an intraday reversal to close in hammers. This action has them
looking bullish for Tuesday. Both contracts are on the Pullbacks
Off Lows list.
Soybean oil
(
BOH2 |
Quote |
Chart |
News |
PowerRating) began to fall below its
flag, indicating further downside is likely.
After an inside day, cocoa
(
CCH2 |
Quote |
Chart |
News |
PowerRating) may be
poised to rally and may have its sights set on the 11/30 high of 1365 as its
next target.
Cotton
(
CTH2 |
Quote |
Chart |
News |
PowerRating) managed to close above its
pullback downtrend line today after rallying off its 50% retracement on Friday.
Based on this, cotton looks to go higher Tuesday.
Copper
(
HGH2 |
Quote |
Chart |
News |
PowerRating) looks like it could go either
way here after it bounced off its 50% retracement. This is either the beginning
of a new rally, or the end of a ledge that it could easily fall from.
British pounds (BPH2)
moved higher and still look good. This Momentum
5 player could charge to the 11/1 high.
Coffee
(
KCH2 |
Quote |
Chart |
News |
PowerRating) was decisively turned back at
its trendline and looks like it may challenge its lows.
Live cattle
(
LCG2 |
Quote |
Chart |
News |
PowerRating) made good on their Turtle
Soup Plus One setup. Look for continuation here. Feeders
(
FCF2 |
Quote |
Chart |
News |
PowerRating) could also
rally here from their 50% level.
|
Contract |
Setup
|
Direction
|
Trigger
|
| British pound (BPH2 |
Momentum play
|
up
|
above Monday’s high |
| 30-year bonds (USH2) |
Possible reversal with
|
up
|
above Monday’s high |
| 10-year notes ( TYH2 | Quote | Chart | News | PowerRating) |
Possible
|
up
|
above Monday’s high |
| Cotton ( CTH2 | Quote | Chart | News | PowerRating) |
Close above pullback
|
up
|
above Monday’s high |
| Cocoa ( CCH2 | Quote | Chart | News | PowerRating) |
Momentum play
|
up
|
above Monday’s high |
| Live Cattle (LCG2) |
Continuation of Friday’s
|
up
|
above Monday’s high |
Use stops on all your
trades.