Monday, November 03, 2014

COMMODITY SETTLEMENTS-CME NOV 3/2014 

Markets-price supply/demand during relative strength trading
Trends-long term-downward-lower highs, upward-higher lows
Trading-move+prevailing strengths+activity+momentum
Targets-projected length of move

CORN- NEW/25 cent daily trading limit, premium to back months
Net commitments: Commercials-sold short, investors-covered short
Trends: prices-upward open interest-higher vol-moderate supply-up
Trading: down/flat-day/2 resistance@371-overbot offset buying lost
Targets: 371-388-423-452                                   =LESS BULLISH
SOYBEANS- NEW/70 cent daily trading limit, premium to back months
Net commitments: commercials-offset, investors-offset
Trends: prices-upward open interest-lower vol-moderate supply-up
Trading: down/flat-day/2, thru support@trend, net selling, lost
Targets: 993-1023-1082-1142                              =LESS BULLISH
WHEAT- NEW/35 cent daily trading limit, premium to back months
Net commitments: commercials-sold short, investors-covered short
Trends: prices-upward, open interest-lower, volume-high, supply-up
Trading: flat-day/2, resistance@545-support@trend, buying, lost
Targets: 545-571-622-673                                    =CONVERGENCE
CANADIAN DOLLAR- no daily trading limit
Net commitments: institutions-sold long, investors-bought long
Trends: prices-downward/more, open interest-higher, volume-low
Trading: down-day/3, penetrated support@8820, net selling, lost
Targets: 9076-9033-8962-8820-8678                   =BEARISH
HEATING OIL- 25 cent daily trading limit, mostly flat to back months
Net Commitments: commercials-bought long, investors-sold short
Trends: prices-downward, open interest-up, volume-moderate
Trading: up-day/5, resistance@252 prevailed, net selling, same
Targets: 279-269-252-239                                     =LESS BULLISH 
COMMENTS WELCOME

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