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Corn (CME)Corn (CME)

20240516 04:30

Corn (CME) (JUL4) intraday: the downside prevails as long as 466.25 is resistance

Our pivot point stands at 466.25.

Our preference: the downside prevails as long as 466.25 is resistance.

Alternative scenario: the upside breakout of 466.25, would call for 469.50 and 471.25.

Comment: the RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Corn (CME) (JUL4) is trading under both its 20 and 50 period moving average (respectively at 465.68 and 467.60).

Supports and resistances:

471.25 **

469.50 *

466.25 **

465.00

463.50 last

459.50

457.75 **

455.75 *

454.00 **

Cocoa (ICE US)Cocoa (ICE US)

20240516 04:31

Cocoa (ICE US) (Jul4) intraday: look for a drop towards 7654 before a bounce

Our pivot point is at 7654.

Our preference: look for a drop towards 7654 before a bounce.

Alternative scenario: the downside breakout of 7654 would call for 7613 and 7573.

Comment: the RSI is above its neutrality area at 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI would call for further downside. Cocoa (ICE US) (Jul4) is trading above both its 20 and 50 period moving average (respectively at 7524 and 7596).

Supports and resistances:

8010 **

7970 *

7901 **

7874

7781 last

7694

7654 **

7613 *

7573 **

Cocoa (ICE US)Cocoa (ICE US)

20240516 04:31

Cocoa (ICE US) (Jul4) intraday: look for a drop towards 7654 before a bounce

Our pivot point is at 7654.

Our preference: look for a drop towards 7654 before a bounce.

Alternative scenario: the downside breakout of 7654 would call for 7613 and 7573.

Comment: the RSI is above its neutrality area at 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI would call for further downside. Cocoa (ICE US) (Jul4) is trading above both its 20 and 50 period moving average (respectively at 7524 and 7596).

Supports and resistances:

8010 **

7970 *

7901 **

7874

7781 last

7694

7654 **

7613 *

7573 **

Gold (CME)Gold (CME)

20240516 04:32

Gold (CME) (JUN4) intraday: look for a drop towards 2362.10 before a bounce

Our pivot point stands at 2362.10.

Our preference: look for a drop towards 2362.10 before a bounce.

Alternative scenario: the downside breakout of 2362.10 would call for 2352.30 and 2342.50.

Comment: the RSI is above 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI should trigger further losses. Gold (CME) (JUN4) is below its 20 period moving average (2393.70) but above its 50 period moving average (2379).

Supports and resistances:

2435.80 **

2425.90 *

2409.40 **

2402.90

2393.50 last

2371.90

2362.10 **

2352.30 *

2342.50 **

Copper (CME)Copper (CME)

20240516 04:32

Copper (CME) (JUL4) intraday: as long as 5.0050 is resistance look for 4.8860

Our pivot point stands at 5.0050.

Our preference: as long as 5.0050 is resistance look for 4.8860.

Alternative scenario: the upside breakout of 5.0050, would call for 5.0405 and 5.0615.

Comment: the RSI is above 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI should trigger further losses. Copper (CME) (JUL4) is trading above its 20 period moving average (4.9340) but under its 50 period moving average (4.9726).

Supports and resistances:

5.0615 **

5.0405 *

5.0050 **

4.9915

4.9535 last

4.9070

4.8860 **

4.8650 *

4.8445 **