USO (crude ETN) & $WTIC (crude futures) continue to struggle with key long-term support on the weekly charts while most intermediate-term trend indicators remain bearish.

 

Next sell signal on crude pending a break of this /CL (crude futures) 60-minute primary uptrend line with confirmation/additional sell signal on a break below 55.75.

CL 60-min March 5th

CL 60-min March 5th

/KC (coffee futures) backtesting the minor downtrend line with the next buy signals to come on a break above the previous reaction high & then the 101.75 level. 60-min chart:

KC 60-min March 5th

KC 60-min March 5th

The broad market continues to lose momentum as stock index futures grind sideways with /ES trading at the same level it was 2 weeks ago back on Feb 20th. Will today be another groundhog day or will Punxsutawney Phil finally stick his head out & not see his shadow today, finally indication a change of season (trend)? Until he does, more of the same. Either way, here are some levels to watch on both /ES & /NQ via 60-minute charts.

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