Thursday, January 22, 2015

Markets-price supply/demand during relative strength trading
Trends-price channel, down-lower highs, up-higher lows
Trading-Movement+direction/momentum+activity+prevailing strength
Targets-projected length of move
CORN- 25 cent daily limit
Net positions: commercials-less short/non commercials-less long
Trends: channel-down/narrow+open interest-up+supply-up/less
Trading: lower from lower high at resistance at high of channel 
Targets: 522-439-406-377-328-290       net selling  =BEARISH                               
SOYBEANS- 70 cent daily limit
Net positions: commercials-more long/non-commercials-less long
Trends: channel-down/less+open interest-up-supply-up/more
Trading: flat/testing new low+wider range+net selling+drifting
Targets: 1087-1014-985-959-917-883                     =BEARISH
WHEAT- 35 cent daily limit
Net positions: commercials-now short/non commercials-less long
Trends: channel-down/steady+open interest-up, supply-up/more
Trading: lower/net selling meeting resistance at top of channel   
Targets: 677-606-598-558-553-511-478                  =BEARISH
CANADIAN DOLLAR- no daily limit
Net positions: ≤commercials-more long/non commercials-more short
Trends: channel-down/vertical+open interest-up+low volume
Trading: lower/narrow range+net selling+small buying(covering?)
Targets: 9398-8773-8523-8304-7940-7648               =BEARISH
HEATING OIL- 25 cent daily limit
Net positions: commercials-more long/non commercials-more short
Trends: channel-down/steady+open interest-up
Trading: higher on apparent short-side activity, making a new low
Targets: 307-250-227-207-174-164                        =LESS BEARISH
Post a Comment