Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Commodity Currents: Moving Monday.

Equities tried to rally but were turned away from resistance at 1372 keeping alive for now anyway downside possibilities, with my near term objective of 1340. 10yr Treasuries rallied but ran out of steam approaching 132-00 and although still can push into contract highs yields will be supported around 1.80 to 1.85% keeping a lid on significant upside. The Dollar floated up into resistance around 80.30 and then reversed back to the lows taking it under 80.00 again going nowhere fast but managing to say over 79.69 keeping its small uptrend alive. Gold melted capped at 1660 and managed to slip further down the correction slope challenging 1650 with a close under 1640 brings 1620 into play and a near indecision day in Sliver still under significant resistance at 32.000 turned away at 31.55 with lack of buying conviction have to wait and see what happens should prices return to 31.000. Crude tried to advance but stalled under 104.00 while managing to close over 103.00 as buyers supported at 102.47 but what doesn't go up usually sells off as profit-takings sets in. Natural gas advanced on likely short-covering but expect it to have trouble closing over 2.04. Cattle managed a close over 116.00 keeping 118.00 within reach as long as 115.75 holds whereas Hogs continued their drop unable to get out of its own way likely heading toward 87.675. More profit taking in the grains with Corn hugging support unable to make upside but supported at 617 whereas Wheat also approached chart based support around 612 lower end of its recent trading range and overbought Soybeans fell through 1428 and a failure to close back over that price could be a clue the trend is about to end with 1400 next downside objective. Coffee broke through 180.00 with new selling to new contract lows as buyers gave up after resistance at 185.00 proving too much with 160.00 a possible downside objective. Sugar soured on longs with 22.00 next support area with Cocoa hitting its minimum objective of 2,237, and Orange Juice bounced on short covering stalled at its first minimum objective at 150.00.