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Commodity Currents: Moving Monday.

The S&P500 spend most of the day within its seven point range before finally deciding what to do by closing on the upper end of its daily range after buyers supported when prices approached 1359.67 keeping the uptrend alive for another day. Despite the upside potential of Indices, 10y Treasuries tried to move higher challenging 130-29 resistance to get a close over 131-00 but sellers were waiting sending treasuries to the lows suggesting possible asset rotation into equities. The Dollar tried to build on prior gains but unable to do so although trend is still higher as long as it remains over 79.60 but really needs to close over 80.00 but that might not happen should the Euro currency exceed 1.3190. Profit-taking in Gold after a failure to close over 1720 but holding 1700 at the moment trying to push higher. Is that a head and shoulders top forming in Sliver? Sure looks that way with the congestion area forming the right shoulder if the white metal stays within 33.000 and 34.322 for a couple more weeks unable to close over 33.944. Crude slipped to the lows where buyers were waiting, this level was around 107.00 to prevent a close under 106.57 keeping sellers at buy suggesting there is still more to this move. Slow death in Natural gas as it churns lower with buyers still looking for the low, better opportunities elsewhere. Some movement in the grains with Oats leading the complex with buying out of nowhere which spilled over into both Corn and Wheat while Soybeans are looking more fatigued here as they struggle to stay over 1332-0 experiencing an inside day. Coffee traded close to 181.00 when buyers woke up and were supportive, could this be the end of the sell off? Buyers were really sweet to Sugar buying when it traded at 23.30 not waiting for 23.00 on a spike in volume too a clue a reversal might be near whereas Cocoa is still over its 100day for the 2nd time with the longer it stays over the greater its chances of catching a bid as nervous shorts cover if it looks like 2,500 might trade. Two sided trade in Cotton with buyers and sellers still looking for direction buyers supporting on the low but sellers have the advantage at the high with bull's objective to force a close over 89.56 and bears to take it under 86.00