U.S Agri Preview
U.S Metal Preview

Chicago Board of Trade wheat futures closed mixed on Tuesday as traders squared positions ahead of a key government crop report scheduled for release on Friday, traders said. Traders remained cautious ahead of a USDA report on Friday which will feature key supply and demand data that was delayed by the recent U.S. government shutdown.

CBOT Wheat Strategy:
  • Trader may long near 522.50 with stop loss on or below 519.75 and profit target near 528.50.
  • Trader may long near 525.50 with stop loss on or below 524.00 and profit target near 531.75.
  • Trader may short near 517.50 with stop loss on or above 518.75 and profit target near 511.75.

Gold ended marginally lower on Tuesday ahead of President Donald Trump’s State of the Union address to the Congress, firmer dollar and rising global stock markets capped gains.

Comex Gold Strategy:
  • Trader may long near 1,312.50 with stop loss on or below 1,311.90 and profit target near 1,318.00.
  • Trader may long near 1,318.30 with stop loss on or below 1,317.50 and profit target near 1,321.50.

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