TMV Swing Trade report – Short May Cotton from 85.39 – Hit the target! The short position has reached the initial target objective at 82.10. Cotton could find support at the downward sloping median line and form a new bearish signal pattern. The longer-term cycle remains bearish, so I will use a two or three [...]
Market News – Soybeans Advance on Demand From China, Dry Argentina Weather
Soybeans rose to the highest in more than a week on signs of increasing demand from China, the world’s largest importer, and as dry weather threatened crops in Argentina. U.S. exporters sold 120,000 metric tons of soybeans for delivery by Aug. 31, the Department of Agriculture said yesterday. China’s financial markets were shut last week [...]
Market Alert – Time To Exit Short December Heating oil –
TMV Swing Trading Report – Short December Heating oil from 3.0725 – Current price @ 2.9848 – Heating oil continues to contract underneath the 20- day EMA and move away from the bearish median line. This price action suggest the downward trend may be losing momentum. I recommend buying heating oil at the market and [...]
Market Update – Natural gas surges out of bullish Reaction swing! swing trading, price action, median lines
TMV Swing Trade report – Long October Natural gas – long from 2.845 – Natural gas surged out of the bullish reaction swing and traded above the prior two swing highs. The price move confirms the bullish TR (trend reversal) pattern sequence and portends a new price advance to 3.280, where the upward sloping median [...]
Market update – Coffee plunges for the second day in a row!
TMV Swing Trade Report – Short December Coffee from 164.20 – In a classic example of Action/Reaction at work in the market, Coffee is trading sharply lower for a second day. Coffee prices have dropped over 790 points in the last two session, after breaking out of the bearish reaction and longer-term zigzag continuation pattern. [...]
Beef Herd Tumbles To 40-Year Low On Feed Cost Surge: Commodities
The worst U.S. drought in a half century and record feed prices are spurring farmers to shrink cattle herds to the smallest in two generations, driving beef prices higher. Beef output will slump to a nine-year low in 2013 after drought damaged pastures from Missourito Montana, the U.S. Department of Agriculture estimates. The domestic herd is now [...]
Market update – Long September Coffee reaches target objective!
TMV Swing Trade report – Long September Coffee from 168.75 – Exit Price 177.75 – Hit the Target! Coffee surged higher for the a third day and traded through the 177.75 target objective, to close the long position with a hefty gain.
Market Alert – CME changes trading hours for grains.
After being approved by the Commodity Futures Trading Commission the CME Group has expanded electronic grain futures trading to 21 hours. Trade now only stops between 2 p.m. and 5 p.m. Central each day. The new trading schedule started at 5 p.m. on Sunday. CFTC Commissioner Bart Chilton says he’s satisfied the three hours of [...]
Market News – USDA Cuts Soybean End Stock Forecast, increases Corn Stocks
WASHINGTON (Dow Jones)–The U.S. Department of Agriculture said Thursday it expects U.S. soybean inventories will continue to drop, but raised its forecast for corn stockpiles. U.S. soybean farmers will be producing 149 million more bushels this year but continuing foreign demand and weak competition from South American countries will continue to push up U.S. exports, [...]
Reversal dates for the week of May 7 through May 11.
Monday – Crude oil, Heating oil, Sugar Tuesday – Live Cattle, Wheat, Gold, Ten-Year Notes, Treasury Bonds, Cotton Wednesday – Lean Hogs, RBOB gas, Eurocurrency Thursday – Silver, Australian dollar Friday – S&P To learn more about reversal dates and how they are used for time and price projections, watch this educational video. Click here [...]