The June Dollar was lower overnight. Stochastics and the RSI are overbought and are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 83.04 would confirm that a short-term top has been posted. If June extends the rally off May's low, the July 2012 high crossing at 85.29 is the next upside target. First resistance is the overnight high crossing at 84.59. Second resistance is the July 2012 high crossing at 85.29. First support is the 10-day moving average crossing at 83.86. Second support is the 20-day moving average crossing at 83.04.

The June Euro was higher overnight as it consolidates some of Tuesday's decline. Stochastics and the RSI are turning neutral to bullish signaling that a low might be in or is near-term. Closes above the 20-day moving average crossing at 130.04 are needed to confirm that a low has been posted. If June extends this month's decline, April's low crossing at 127.51 is the next downside target. First resistance is the 20-day moving average crossing at 130.04. Second resistance is the reaction high crossing at 131.98. First support is last Friday's low crossing at 127.98. Second support is April's low crossing at 127.51.

The June British Pound was higher due to short covering overnight as it consolidates some of this month's decline. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends this month's decline, April's low crossing at 1.5027 is the next downside target. Closes above the 20-day moving average crossing at 1.5361 would confirm that the short-term top has been posted. First resistance is the 20-day moving average crossing at 1.5361. Second resistance is May's high crossing at 1.5603. First support is the overnight low crossing at 1.5012. Second support is April's low crossing at 1.5027.

The June Swiss Franc was higher due to short covering overnight as it consolidates some of this month's decline. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends this month's decline, last July's low crossing at .10148 is the next downside target. Closes above the 20-day moving average crossing at .10514 would confirm that a low has been posted. First resistance is the 10-day moving average crossing at .10348. Second resistance is the 20-day moving average crossing at .10514. First support was Tuesday's low crossing at .10166. Second support is last July's low crossing at .10148.

The June Canadian Dollar was higher due to short covering overnight as it consolidates some of Tuesday's decline. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-term. If June extends the decline off last May's low crossing at 95.30 is the next downside target. Closes above the 20-day moving average crossing at 98.42 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 97.74. Second resistance is the 20-day moving average crossing at 98.42. First support is the overnight low crossing at 96.15. Second support is last May's low crossing at 95.30.

The June Japanese Yen was higher due to short covering overnight as it consolidates some of its recent trading range. Stochastics and the RSI are oversold but are turning neutral to bullish signaling that sideways to lower prices are possible near-term. Closes above the 20-day moving average crossing at .9961 are needed to confirm that a low has been posted. If June resumes this year's decline, monthly support crossing at .9421 is the next downside target. First resistance is the 20-day moving average crossing at .9961. Second resistance is the reaction high crossing at .10147. First support is Tuesday's low crossing at .9720. Second support is monthly support crossing at .9421.

NYMEX CRUDE OIL http://quotes.ino.com/exchanges/?c=energy

July crude oil was lower overnight as it extends this week's decline. Stochastics and the RSI are diverging and are turning bearish signaling that sideways to lower prices are possible near-term. Closes below last Wednesday's low crossing at 92.13 would confirm that a short-term top has been posted. If July renews the rally off April's low, April's high crossing at 98.06 is the next upside target. First resistance is April's high crossing at 98.06. Second resistance is February's high crossing at 99.52. First support is last Wednesday's low crossing at 92.13. Second support is the reaction low crossing at 90.11.

June heating oil was lower overnight following Tuesday's close below the 20-day moving average, which confirms that the corrective rally off April's low has ended. Stochastics and the RSI are diverging and are turning bearish signaling that sideways to lower prices are possible near-term. If June extends this week's decline, last Wednesday's low crossing at 281.93 is the next downside target. If June renews the rally off April's low, the 50% retracement level of the February-April decline crossing at 297.99 is the next upside target. First resistance is the 50% retracement level of the February-April decline crossing at 297.99. Second resistance is the 62% retracement level of the February-April-decline crossing at 304.15. First support is last Wednesday's low crossing at 281.93. Second support is May's low crossing at 275.97.

June unleaded gas was lower overnight as it extends this week's decline. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near-term. If June extends this week's decline, the reaction low crossing at 277.04 is the next downside target. Closes above the 10-day moving average crossing at 285.55 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 285.55. Second resistance is the 50% retracement level of the February-May decline crossing at 296.45. First support is the reaction low crossing at 277.04. Second support is May's low crossing at 268.79.

June Henry natural gas was lower overnight as it consolidates some of the rally off this month's low. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If June extends the aforementioned rally, May's high crossing at 4.444 is the next upside target. Closes below the 10-day moving average crossing at 4.056 would confirm that a short-term low has been posted and would open the door for additional weakness near-term. First resistance is Tuesday's high crossing at 4.228. Second resistance is May's high crossing at 4.444. First support is the 10-day moving average crossing at 4.056. Second support is the 50% retracement level of the January-April-rally crossing at 3.830.

FOOD & FIBER http://quotes.ino.com/exchanges/category.html?c=food

July coffee closed sharply lower on Wednesday as it extends this month's decline. The low-range close set the stage for a steady to lower opening on Thursday. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-term. If July extends the aforementioned decline, weekly support crossing at 11.33 is the next downside target. Closes above the 10-day moving average crossing at 13.96 would confirm that a short-term low has been posted.

July cocoa closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends this month's decline, the 50% retracement level of the March-May rally crossing at 22.41 is July's next downside target. Closes above the 20-day moving average crossing at 23.54 are needed to confirm that a low has been posted.

July sugar closed lower on Wednesday as it extends this month's decline. The low-range close set the stage for a steady to lower opening on Thursday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible. If July extends this year's decline, the 87% retracement level of the 2010-2011-rally crossing at 16.29 is the next downside target. Closes above the 20-day moving average crossing at 17.26 are needed to confirm that a short-term low has been posted.

July cotton closed lower on Wednesday as it extends this month's decline. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-term. If July extends today's decline, April's low crossing at 82.84 is the next downside target. Closes above the 10-day moving average crossing at 85.93 are needed to confirm that a low has been posted.

GRAINS http://quotes.ino.com/exchanges/category.html?c=grains

July corn was lower overnight as it consolidates some of Tuesday's rally while extending this month's trading range. Stochastics and the RSI are turning bullish signaling that sideways to higher prices are possible near-term. If July renews the rally off April's low, the April 1st gap crossing at 6.76 is the next upside target. Closes below the reaction low crossing at 6.25 would open the door for a test of April's low crossing at 6.10. First resistance is the April 1st gap crossing at 6.76. Second resistance is the August-March downtrend line crossing near 6.90 3/4. First support is the reaction low crossing at 6.25. Second support is April's low crossing at 6.10.

July wheat was higher due to short covering overnight as it consolidates some of this month's decline. The high-range close sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are oversold and are turning bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 7.04 1/2 would temper the near-term bearish outlook. If July extends the decline off May's high, April's low crossing at 6.64 3/4 is the next downside target. First resistance is the 20-day moving average crossing at 7.04 1/2. Second resistance is the reaction high crossing at 7.27 3/4. First support is Tuesday's low crossing at 6.74. Second support is April's low crossing at 6.64 3/4.

July Kansas City Wheat closed up 4 3/4-cents at 7.43 1/4.

July Kansas City wheat closed higher on Wednesday. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are oversold and are turning neutral to bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 7.61 1/2 are needed to confirm that a low has been posted. If July extends this month's decline, April's low crossing at 7.16 1/2 is the next downside target. First resistance is the 20-day moving average crossing at 7.61 1/2. Second resistance is April's high crossing at 7.96 3/4. First support is Monday's low crossing at 7.32 1/2. Second support is April's low crossing at 7.16 1/2.

July Minneapolis wheat was fractionally higher overnight while extending this month's trading range. The low-range close sets the stage for a steady to lower opening when the day session begins to trade. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes below the reaction low crossing at 8.02 would confirm a downside breakout of this month's trading range while opening the door for additional weakness near-term. If July renews the rally off April's low, the 38% retracement level of the July-April decline crossing at 8.53 3/4 is the next upside target. First resistance is the reaction high crossing at 8.34 1/2. Second resistance is the 38% retracement level of the July-April decline crossing at 8.53 3/4. First support is the reaction low crossing at 8.02. Second support is April's low crossing at 7.60.

SOYBEAN COMPLEX http://quotes.ino.com/exchanges/?c=grains

July soybeans were higher overnight as they extend the rally off April's low. The mid-range close sets the stage for steady to higher opening when the day session begins trading later this morning. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends the rally off April's low, the 75% retracement level of the September-November decline crossing at 15.37 is the next upside target. Closes below the 20-day moving average crossing at 14.16 1/4 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at 15.02 1/2. Second resistance is the 75% retracement level of the September-November decline crossing at 15.37. First support is the 10-day moving average crossing at 14.45 1/2. Second support is the 20-day moving average crossing at 14.16 1/4.

July soybean meal was higher overnight. The low-range close sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends the rally off April's low, the 75% retracement level of the September-January decline crossing at 445.90 is the next upside target. Closes below the 20-day moving average crossing at 415.70 are needed to confirm that a short-term top has been posted. First resistance is the overnight high crossing at 442.00. Second resistance is the 75% retracement level of the September-January decline crossing at 445.90. First support is the 10-day moving average crossing at 423.70. Second support is the 20-day moving average crossing at 415.70.

July soybean oil was lower overnight while extending this spring's trading range. The mid-range close sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the reaction high crossing at 50.42 are needed to confirm that a low has been posted. If July renews this year's decline, the 50% retracement level of the 2010-2011-rally crossing at 46.56 is the next downside target. First resistance is the reaction high crossing at 50.42. Second resistance is March's high crossing at 51.24. First support is April's low crossing at 48.08. Second support is the 50% retracement level of the 2010-2011-rally crossing at 46.56.

U.S. STOCK INDEXES http://quotes.ino.com/exchanges/?c=indexes

The June NASDAQ 100 was lower overnight following Wednesday's key reversal down and trading below initial support marked by the 10-day moving average crossing at 2999.10. Stochastics and the RSI are overbought and are turning bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 2953.73 would confirm that a short-term top has been posted. If June extends the rally off November's low, weekly resistance crossing at 3084.00 is the next upside target. First resistance is Tuesday's high crossing at 3036.75. Second resistance is weekly resistance crossing at 3084.00. First support is the 20-day moving average crossing at 2953.73. Second support is May's low crossing at 2862.25.

The June S&P 500 was lower overnight as it extends Tuesday's key reversal down. Stochastics and the RSI are overbought but are turning bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 1626.20 are needed to confirm that a short-term top has been posted. If June extends this year's rally, upside targets will be hard to project with the index trading into uncharted territory. First resistance is Tuesday's high crossing at 1673.00. Second resistance will be hard to project with the index trading into uncharted territory. First support is the 20-day moving average crossing at 1626.20. Second support is May's low crossing at 1576.20.

INTEREST RATES http://quotes.ino.com/exchanges/?c=interest

June T-bonds was higher overnight as it consolidates some of Tuesday's decline. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends this month's decline, the 87% retracement level of the March-May rally crossing at 141-19 is the next downside target. Closes above the 20-day moving average crossing at 145-29 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 144-04. Second resistance is the 20-day moving average crossing at 145-29. First support is the overnight low crossing at 142-09. Second support is the 87% retracement level of the March-May rally crossing at 141-19.

LIVESTOCK http://quotes.ino.com/exchanges/?c=livestock

June hogs closed up $2.15 at $94.55.

June hogs closed sharply higher on Wednesday as it renewed the rally off March's low. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are diverging but have turned bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off March's low, the 62% retracement level of the December-March decline crossing at 96.18 is the next upside target. Closes below the reaction low crossing at 90.00 would confirm that a short-term top has been posted. First resistance is today's high crossing at 94.60. Second resistance is the 62% retracement level of the December-March decline crossing at 96.18. First support is the reaction low crossing at 90.00. Second support is April's low crossing at 88.22.

June cattle closed down $1.10 at 120.00.

June cattle closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are turning bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 121.15 would confirm that a short-term low has been posted. If June extends this month's decline, weekly support crossing at 115.44 is the next downside target. First resistance is the 20-day moving average crossing at 121.24. Second resistance is the reaction high crossing at 121.40. First support is last Friday's low crossing at 118.80. Second support is weekly support crossing at 115.44.

August feeder cattle closed down $2.15 at $144.32.

August Feeder cattle closed lower on Wednesday filling Tuesday's gap. The low-range close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI have turned bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 147.08 are needed to confirm that a low has been posted. If August extends this year's decline, weekly support crossing at 132.45 is the next downside target. First resistance is the 20-day moving average crossing at 147.08. Second resistance is the reaction high crossing at 149.80. First support is Monday's low crossing at 142.50. Second support is weekly support crossing at 132.45.

PRECIOUS METALS http://quotes.ino.com/exchanges/?c=metals

June gold was higher overnight. The high-range close sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are turning bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 1429.50 are needed to confirm that a short-term top has been posted. If June renews this month's decline, April's low crossing at 1321.50 is the next downside target. First resistance is the 20-day moving average crossing at 1429.50. Second resistance is May's high crossing at 1487.20. First support is Monday's low crossing at 1336.30. Second support is April's low crossing at 1321.50.

July silver was lower overnight. Stochastics and the RSI remain bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 23.362 are needed to confirm that a low has been posted. If July extends this month's decline, the 75% retracement level of the 2008-2011-rally crossing at 19.316 is the next downside target. First resistance is the 20-day moving average crossing at 23.362. Second resistance is the reaction high crossing at 24.835. First support is Monday's low crossing at 22.250. Second support is the 75% retracement level of the 2008-2011-rally crossing at 19.316.

July copper was lower overnight. Stochastics and the RSI are diverging and are turning neutral to bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 328.49 would confirm that a short-term top has been posted. If July extends this month's rally, the 50% retracement level of this year's decline crossing at 342.84 is the next upside target. First resistance is Tuesday's high crossing at 341.80. Second resistance is the 50% retracement level of this year's decline crossing at 342.84. First support is the 20-day moving average crossing at 328.49. Second support is May's low crossing at 304.25.