Big Pat's farm commodities analysis. Get the best and most current analysis of trends, trading, targets for corn, wheat, soybeans, heating oil, Canadian Dollar.
Thursday, October 27, 2016
FARM COMMODITY SETTLEMENTS OCTOBER 27/2016
MARKETS: PRICE SUPPLY/DEMAND USING RELATIVE STRENGTH OF TRADING
TREND: MONTHLY- LINE JOINING HIGHER LOWS (UP), LOWER HIGHS (DOWN)
TRADING: SHORT TERM-DIRECTION-RELATIVE STRENGTH OF MOMENTUM
TARGETS: PROJECTED: MEASURED PRICE OBJECTIVES OF MOVE
CORN/CZ16: 25 CENT DAILY LIMIT RESISTANCE@PREVIOUS HIGHS-TESTED
TREND: UP/LESS, TARGETS 326-333-346-356, PREMIUM MARKET 2016/18
TRADING: UP/CONTRACTED-BUYING..DOWNSIDE TREND-TESTED/CLOSED ABOVE 356
POSITIONS: MOMENTUM ACCELERATING-FREE WORLD STOCKS FLAT
SOYBEANS/SF17: 65 CENT DAILY LIMIT RESISTANCE@PREVIOUS HIGHS-TESTED
TREND: UP, TARGETS: 975-1006-1030-1078. PREMIUM MARKET 2016/17
TRADING: UP/CONTRACTED-NET BUYING..UPSIDE TREND-MET RESISTANCE/1030
POSITIONS: MOMENTUM ACCELERATING-FREE WORLD STOCKS UP
WHEAT/WZ16: 35 CENT DAILY LIMIT DAY 3 OF PROJECTED 6 DAY MOVE
TREND: UP/LESS, TARGETS: 387-411-429-443 PREMIUM MARKET 2016/18
TRADING: UP/CONTRACTED-NET BUYING..UPSIDE TREND/411
POSITIONS: MOMENTUM DECELERATING-FREE WORLD STOCKS-FLAT/DOWN
DOLLAR CAD/USD: CDZ/16 4.00 DAILY LIIMIT. 7503 AS RESISTANCE HOLDING
TREND: DOWN/NEW-TARGETS: 7628-7558-7503-7419 PREMIUM MARKET 2016/21
TRADING: DOWN/CONTRACTED-NET SELLING..BELOW TREND/7503
POSITIONS: MOMENTUM CONTINUED FLAT-
HEATING OIL (ULSD)HOZ/16 25 CENT DAILY LIMIT CONSOLIDATION INSIDE 156-159
TREND: UP/LESS TARGETS: 151-156-159-164, PREMIUM MARKET 2016/18
TRADING: UP/NO CHANGE-NET BUYING-BELOW TREND-MET 159/RESISTANCE
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