The June Dollar closed lower on Friday and below the 10-day moving average crossing at 73.29 signaling that a short-term top appears to have been posted with Thursday's high. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. Closes below the 20-day moving average crossing at 72.72 would signal that a short-term top has been posted. If June extends this week's rally, the 50% retracement level of the December-April decline crossing at 74.46 is the next upside target. First resistance is Thursday's high crossing at 74.06. Second resistance is the 50% retracement level crossing at 74.46. First support is today's low crossing at 73.20. Second support is the 25% retracement level of the December-April decline crossing at 72.76.

The June Euro closed higher due to light short covering on Friday as it consolidates above the 38% retracement level of the December-April rally crossing at 153.547. The high-range close sets the stage for a steady to higher opening on Monday. 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 week's decline, the 50% retracement level of the December-April rally crossing at 151.583 is the next downside target. Closes above the 20-day moving average crossing at 156.341 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 154.732. Second resistance is the 20-day moving average crossing at 156.341. First support is Thursday's low crossing at 152.880. Second support is the 50% retracement level crossing at 151.583.

The June British Pound closed slightly lower on Friday as it extends this week's decline. A short covering rally tempered early weakness and the high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are oversold but remain bearish signaling that sideways to lower prices are possible near-term. If June extends this week's decline, February's low crossing at 1.9235 is the next downside target. Closes above the 20-day moving average crossing at 1.9682 are needed to confirm that a short-term low has been posted. First resistance is Thursday's high crossing at 1.9558. Second resistance is the 10-day moving average crossing at 1.9638. First support is today's low crossing at 1.9408. Second support is February's low crossing at 1.9235.

The June Swiss Franc gapped up and closed above the 10-day moving average crossing at .9562 on Friday signaling that a short-term low has been posted. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are oversold and are neutral to bullish hinting that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at .9722 are needed to confirm that a short-term low has been posted. If June renews this spring's decline, the 50% retracement level of the 2007-2008-rally crossing at .9199 is the next downside target. First resistance is today's high crossing at .9618. Second resistance is the 20-day moving average crossing at .9722. First support is today's gap crossing at .9543. Second support is the 38% retracement level of the 2007-2008-rally crossing at .9428.

The June Canadian Dollar gapped up and closed above the 10-day moving average crossing at 98.84 on Friday as it extends this spring's trading range. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above April's high crossing at 99.95 or below April's low crossing at 96.68 are needed to confirm a breakout of this spring's trading range. First resistance is Monday's high crossing at 99.95. Second resistance is the 38% retracement level of the November-April decline crossing at 101.64. First support is Thursday's low crossing at 98.19 then last week's low crossing at 97.60.

The June Japanese Yen gapped up and closed above the 20-day moving average crossing at .9682 on Friday confirming that a short-term low has been posted. Profit taking tempered early gains and the mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If June extends this week's rally, April's high crossing at .10011 is the next upside target. Closes below Thursday's gap crossing at .9561 would confirm that a short-term top has been posted. First resistance is today's high crossing at .9765. Second resistance is April's high crossing at .10011. First support is today's gap crossing at .9680. Second support is the 10-day moving average crossing at .9610.

ENERGY MARKETS http://quotes.ino.com/exchanges/?c=energy

June crude oil closed higher for the sixth day in a row on Friday as it extends this week's rally into uncharted territory. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are overbought but remain bullish signaling that sideways to higher prices are possible near-term. If June extends this week's rally, upside targets will be hard to project now that the market is trading into uncharted territory. Closes below the 20-day moving average crossing 117.43 would temper the near-term bullish outlook in the market. First resistance is the today's high crossing at 126.25. First support is the 10-day moving average crossing at 119.18. Second support is the 20-day moving average crossing at 117.44.

June heating oil closed sharply higher for the sixth day in a row on Friday as it extends this week's rally into uncharted territory. Today's high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible. If June extends this week's rally, upside targets will be hard to project now that the market is trading into uncharted territory. Closes below the 20-day moving average crossing at 329.08 would signal that a short-term top has been posted. First resistance is today's high crossing at 365.24. First support is the 10-day moving average crossing at 332.77. Second support is the 20-day moving average crossing at 329.13.

June unleaded gas closed higher for the sixth day in row on Friday as it extends this week's rally into uncharted territory. Today's high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends this week's rally, upside targets will be hard to project now that the market is trading into uncharted territory. Closes below the 20-day moving average crossing at 299.73 would confirm that a short-term top has been posted. First resistance is today's high crossing at 320.38. First support is the 10-day moving average crossing at 303.21. Second support is the 20-day moving average crossing at 299.77.

June Henry natural gas closed higher on Friday and above April's high crossing at 11.465 thereby renewing this year's rally. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near-term. If June extends this week's rally, monthly resistance crossing at 12.982 is the next upside target. Closes below the 20-day moving average crossing at 10.881 would temper the near-term bullish outlook. First resistance is today's high crossing at 11.569 then monthly resistance crossing at 12.982. First support is the 10-day moving average crossing at 11.085. Second support is the 20-day moving average crossing at 10.881.

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

July coffee closed higher on Friday as it extends the trading range of the past six weeks. Profit taking tempered early gains and the mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI are bullish hinting that sideways to higher prices are possible near-term. Closes above the reaction high crossing at 14.285 would temper the near-term bearish outlook. If July resumes last week's decline, March's low decline crossing at 12.84 is the next downside target.

July cocoa closed higher on Friday and above the 10-day moving average crossing at 27.07. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. Closes above last Monday's high crossing at 28.24 would confirm that a short-term low has been posted. If July renews last week's decline, the reaction low crossing at 25.35 is the next downside target.

July sugar posted an inside day with a higher close on Friday but remains below the 10-day moving average crossing at 11.67. The mid-range close set the stage for a steady opening on Monday. Stochastics and the RSI are neutral to bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 12.28 are needed to confirm that a short-term low has been posted. If July resumes last week's decline, the 75% retracement level of the August-March rally crossing at 10.92 is the next downside target.

July cotton closed higher on Friday as it extends this week's breakout above the 10-day moving average crossing at 70.46 signaling that a low has likely been posted. The mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 73.68 would signal that a short-term low has been posted. If July resumes this spring's decline, December's low crossing at 66.13 is the next downside target.

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

July Corn closed down 1-cents at 6.29 1/4.

July corn closed lower on Friday due to light profit taking after posting a new all-time high early in the day. The USDA projected old crop ending stocks of corn at 1.383 billion bushels, which was above the pre-report guesses by 100 million bushels. The new crop ending stocks were projected at a very tight 763 million bushels but still about 80 million over the average pre-report guess. The USDA projected this year's yield at 153.9 bushels per acre, 1 bushel per acre below the 1990- 2007 trend based on the slower-than-average pace of planting as reported in Crop Progress. The mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near- term. Thursday's close above April's high crossing at 6.28 1/4 opens the door for a resumption of this year's rally into uncharted territory. First resistance is today's high crossing at 6.37 1/2. First support is the 10-day moving average crossing at 6.13 1/4. The second support is Monday's low crossing at 5.85.

July wheat closed down 17 1/2-cents at 8.04 1/2.

July wheat closed lower on Friday as it consolidates below the 50% retracement level of the 2007-2008-rally crossing at 8.23. The USDA projected total production is projected at 2.4 billion bushels, up 16 percent from 2007/08. The survey-based forecast of winter wheat production is up 17 percent as area and yield are higher than last year. Spring wheat production is expected higher with seeded area up 10 percent in the March 31 Prospective Plantings report. Durum and other spring wheat production are projected at 614 million bushels, up 12 percent from 2007/08, based on 10-year harvested-to-planted ratios and trend yields. The mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI remain bullish hinting that a short-term low might be near. Closes above the 20-day moving average crossing at 8.43 3/4 are needed to confirm that a short-term low has been posted. If July resumes the decline off February's high, the 62% retracement level of the 2007-2008- rally crossing at 7.16 3/4 is the next downside target.

July Kansas City Wheat closed down 22 1/2-cents at 8.45 1/2.

July Kansas City Wheat closed sharply lower on Friday as it consolidates below the 50% retracement level of the 2007-2008- rally crossing at 8.68 1/4. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI remain bullish hinting that a short-term low might be in or is near. Closes above the 20-day moving average crossing at 8.87 3/4 are needed to confirm that a low has been posted. If July extends this year's decline, the 62% retracement level of the 2007- 2008-rally crossing at 7.66 1/4 is the next downside target.

July Minneapolis wheat closed down a 1/4-cent at 10.03.

July Minneapolis wheat closed fractionally lower on Friday as it consolidated some of Thursday's rally but remains above the 20-day moving average crossing at 9.88 1/2 confirming that a short-term low has been posted. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near-term. If July extends this week's rally, gap resistance crossing at 10.40 is the next upside target. Closes below the 10-day moving average crossing at 9.63 1/4 would temper the near-term bullish outlook in the market.

SOYBEAN COMPLEX

July soybeans closed up 48-cent at 13.58.

July soybeans gapped up and closed above the 20-day moving average crossing at 13.35 1/5 confirming that a short-term low has been posted on Friday. The USDA projected soybean production at 3.1 billion bushels, up 520 million bushels from 2007/08. Soybean supplies are projected at 3.3 billion bushels, up just 3 percent from 2007/08 despite higher planted area. The USDA projected old crop soybean ending stocks at 145 million bushels, which was lower than pre-report guesses, which averaged 160 million bushels. New crop soybean ending stocks were estimated at 185 million bushels well off the average pre- report guess of 270 million bushels. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If July extends this week's rally, April's high crossing at 14.15 is the next downside target. Closes below the 10-day moving average crossing at 13.02 would signal that a short-term top has been posted.

July soybean meal closed up $3.30 at $338.50.

July soybean meal closed higher on Friday and above the 10-day moving average crossing at 334.40 signaling that a short-term low has been posted. Profit taking tempered early gains and the mid-range close set the stage for a steady opening on Monday. 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 342.50 would confirm that a short-term low has been posted. If July renews last week's decline, April's low crossing at 308.50 is the next downside target.

July soybean oil closed up 245 pts. at 62.00.

July soybean oil gapped up and closed above the 20-day moving average crossing at 59.95 on Friday confirming that a short- term low has been posted. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If July extends this week's rally, April's high crossing at 63.75 is the next upside target. Closes below the 10-day moving average crossing at 58.41 are needed to confirm that a short-term top has been posted.

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

The June NASDAQ 100 closed lower on Friday as it consolidates below the 50% retracement level of the October-March decline crossing at 1988.87. The mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI have turned bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 1920.60 are needed to confirm that a short-term top has been posted. If June resumes this spring's rally, the 62% retracement level of the October-March decline crossing at 2062.72 is the next upside target.

The June S&P 500 index closed lower on Friday and spiked below the 20-day moving average crossing at 1386.84. The high- range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near-term. Multiple closes below the 20-day moving average crossing at 1386.84 are needed to confirm that a short-term top has been posted. Closes above the 10-day moving average crossing at 1400.79 would temper the near-term bearish outlook in the market. If June resumes this spring's rally, the 62% retracement level of the October-March decline crossing at 1467.11 is the next upside target.

The Dow closed sharply lower on Friday and below the 20-day moving average crossing at 12,790 confirming that a short-term top has been posted. Today's decline was due to the continued rise in energy prices, which is bearish for economic growth. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near-term. If the Dow extends this week's decline, the reaction low crossing at 12,656 is the next downside target. Closes above the 10-day moving average crossing at 12,900 would signal that a short-term low has been posted.

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

June T-bonds closed up 15/32's at 117-08.

June T-bonds gapped up and closed above the 20-day moving average crossing at 116-23 on Friday confirming that a short- term low has been posted. Profit taking tempered early gains and the low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI have turned bullish signaling that sideways to higher prices are possible near-term. If June extends this week's rally, the reaction high crossing at 117-28 is the next upside target. Closes below the 10-day moving average crossing at 116-12 would temper the near-term friendly outlook in the market. First resistance is today's high crossing at 117-21. Second resistance is the reaction high crossing at 117-28. First support is the 20-day moving average crossing at 116-23. Second support is the 10-day moving average crossing at 116-12.

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

June hogs closed up $0.40 at $76.87.

June hogs gapped up and closed higher on Friday as it extends this week's rally. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. The mid-range close sets the stage for a steady opening on Monday. If June extends this week's rally, the reaction high crossing at 79.50 is the next upside target. Closes below the 20-day moving average crossing at 74.09 would temper the near-term friendly outlook in the market. First resistance is today's high crossing at 77.27. Second resistance is the reaction high crossing at 79.50. First support is Thursday's gap crossing at 75.40. Second support is the 10-day moving average crossing at 74.11.

July bellies closed up $0.30 at $80.07.

July bellies closed higher on Friday as it extends this week's rally. Profit taking tempered early gains and the low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near-term. If July extends this week's rally, the reaction high crossing at 84.25 is the next upside target. Closes below the 10-day moving average crossing at 76.25 would confirm that a short-term top has been posted.

June cattle closed up $0.87 at 94.52.

June cattle closed higher on Friday and closed above April's high extending the rally off March's low. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI turned bullish with this week's rally signaling that sideways to higher prices are possible near-term. If June extends this week's rally, the 87% retracement level of the February- March decline crossing at 94.87 is the next upside target. Closes below the 20-day moving average crossing at 92.39 are needed to confirm that a short-term top has been posted.

May feeder cattle closed up $0.57 at $107.35.

May Feeder cattle closed higher on Friday as it extended yesterday's rally above the 10-day moving average crossing at 105.93. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are turning bullish signaling that sideways to higher prices are possible near-term. If May extends this week's rally, April's high crossing at 108.10 is the next upside target. Closes below the 20-day moving average crossing at 105.78 are needed to confirm that a short-term top has been posted.

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

June gold closed higher on Friday as it extends this week's rally above the 10-day moving average crossing at 873.80. The high- range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 896.80 are needed to confirm that a short-term low has been posted. If June renews last month's decline, the 62% retracement level of the 2007-2008-rally crossing at 810.60 is the next downside target. First resistance is today's high crossing at 890.80. Second resistance is the 20-day moving average crossing at 896.80. First support is the 10-day moving average crossing at 873.80. Second support is last Thursday's low crossing at 846.40.

July silver closed slightly higher on Friday as it consolidates above the 10-day moving average crossing at 16.716. The mid- range close sets the stage for a steady opening on Monday. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 17.205 are needed to confirm that a short-term low has been posted. If July renews last week's decline, the 62% retracement level of the 2007-2008-rally crossing at 15.352 is the next downside target. First resistance is today's high crossing at 17.135. Second resistance is the 20-day moving average crossing at 17.205. First support is the 50% retracement level of the 2007-2008-rally crossing at 16.527. Second support is last Thursday's low crossing at 16.055.

July copper closed lower on Friday as it extends the decline off Monday's high. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are bearish again signaling that sideways to lower prices are possible near-term. July copper has resumed April's trading range. Closes above 403.60 or below 366.75 are needed to clear up near- term direction on the market. First resistance is April's high crossing at 403.60. Second resistance is monthly resistance crossing at 416.00. First support is last Thursday's low crossing at 369.10. Second support is March's low crossing at 347.00.