Tuesday, November 11, 2014

COMMODITY SETTLEMENTS-CME NOV 11/2014

Markets-price supply/demand during relative strength trading
Trends-long term-down-lower highs, up-higher lows
Trading Range-movement+momentum+prevailing strength
Targets-projected length of move

CORN- 25 cent daily trading limit, premium to back months
Commitments: users-sold short, funds-short covered+BOUGHT LONG-OFFSET
Trends: higher lows, lower open interest, high volume, supply-up
Trading range: flat/narrow+offset buying+tests resistance @ trend 
Targets: 371-388-423-452                                   =LESS BULLISH
SOYBEANS- NEW/70 cent daily trading limit, premium to back months
Commitments: users-liquidated long, funds-short covered
Trends: higher lows, higher open interest, high-volume, supply-up
Trading range: up/wide+buying+tests resistance@last high+@trend 
Targets: 993-1023-1082-1142                              =BULLISH
WHEAT- NEW/35 cent daily trading limit, premium to back months
Commitments: users-sold short, funds-short covered
Trends: lower highs, lower open interest, high volume, supply-up
Trading Range: up/narrow+net buying+tests resistance@trend    
Targets: 514-506-494-483                                   =BULLISH
CANADIAN DOLLAR- no daily trading limit
Commitments: institutions-bought long, investors-bought long
Trends: lower highs, lower open interest, moderate-volume
Trading Range: flat/narrow+net buying-topping+resistance@8820
Targets: 9076-9033-8962-8820-8678                    =BEARISH
HEATING OIL- 25 cent daily trading limit, mostly flat to back months
Commitments: commercials-sold short, investors-sold short
Trends: lower highs, lower open interest, high volume
Trading Range: down/narrow+offset buying-@resistance@trend
Targets: 279-269-252-239                                    =BEARISH
COMMENTS WELCOME

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