Wednesday’s Futures Setups
March silver
(
SIH2 |
Quote |
Chart |
News |
PowerRating) closed lower
today, right near its 464.23 pivot. Silver is trying to rally to its R1, which
is around 470.97. March Silver closed down today by .010 to 4.63. March Silver
is on the Trading
Markets.com Momentum 5 List.
March wheat
(
WH2 |
Quote |
Chart |
News |
PowerRating) closed just below
its pivot point at 305. It is important for wheat to stay above the 302.17 S1
support level to keep the rally intact.
March soybeans
(
SH2 |
Quote |
Chart |
News |
PowerRating) continued
its move upward attempting to penetrate its R1 of 435.67.
March bean Oil
(
BOH2 |
Quote |
Chart |
News |
PowerRating) continued
a rally above its 10-day high. Bean oil closed up to 16.47 hitting its R1.
March Australian Dollar
(
ADH2 |
Quote |
Chart |
News |
PowerRating) has
broken above resistance and is trading at a 10-day high.
|
Contract
|
Setup
|
Direction
|
Trigger
|
| March S&P 500 ( SPH2 | Quote | Chart | News | PowerRating) |
Ascending Triangle |
UP |
Break Above 1168 |
| March Dow Jones ( DJH2 | Quote | Chart | News | PowerRating) |
Ascending Triangle |
UP |
Hold above 10198 |
| March Sugar ( SBH2 | Quote | Chart | News | PowerRating) |
Cup and Handle |
UP |
Today Sugar broke above the |
| March Cotton ( CTH2 | Quote | Chart | News | PowerRating) |
Cup |
UP |
Break above 38.68 |
| March Cocoa ( CCH2 | Quote | Chart | News | PowerRating) |
New High |
UP |
Hold above 1353 |
Please note that while there are strong trends in
some commodities, one bar or a series of bars forming a setup can sometimes
indicate a contra move for the next day. This contra move may not be
long-lasting — maybe only for a day or two. Trading with the main trend is
always the highest probability trade.
Use stops on all your
trades.