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.
Monday, October 31, 2016
FARM COMMODITY SETTLEMENTS OCTOBER 31/2016
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 MOVE/DAY 5 OF PROJECTED 6-TOPPY
TREND: UP/LESS, TARGETS 326-333-346-356, PREMIUM MARKET 2016/JUL 19
TRADING: DOWN DOWNSIDE 356/RESISTANCE-EXPANDED-OFFSET SELLING-BELOW TREND
POSITIONS: MOMENTUM FLAT-FREE WORLD STOCKS FLAT
SOYBEANS/SF17: 65 CENT DAILY LIMIT MOVE/DAY 2 OF PROJECTED 6-DOWN
TREND: UP, TARGETS: 975-1006-1030-1078. PREMIUM MARKET 2016/AUG 17
TRADING: DOWN UPSIDE 1006/SUPPORT-CONTRACTING-MATCHED BELOW TREND
POSITIONS: MOMENTUM DECELERATED-FREE WORLD STOCKS UP
WHEAT/WZ16: 35 CENT DAILY LIMIT MOVE/DAY 4 OF PROJECTED 6-TOPPY
TREND: UP/LESS, TARGETS: 387-411-429-443 PREMIUM MARKET 2016/DEC 18
TRADING: FLAT TESTING 411/SUPPORT-CONTRACTED-NET BUYING-ON TREND
POSITIONS: MOMENTUM ACCELERATED-FREE WORLD STOCKS-FLAT/DOWN
DOLLAR CAD/USD: CDZ/16 4.00 DAILY LIIMIT. MOVE/DAY 4 OF PROJECTED 6
TREND: DOWN/NEW-TARGETS: 7628-7558-7503-7419 PREMIUM MARKET 2016/SEP 21
TRADING: FLAT TESTED MINOR TREND/SUPPORT-CONTRACTED-SELLING-BELOW MAJOR TREND
POSITIONS: MOMENTUM ACCELERATED-
HEATING OIL (ULSD)HOZ/16 25 CENT DAILY LIMIT MOVE/DAY 2-LOWER HIGH
TREND: UP/LESS TARGETS: 136-144-151-156-159, PREMIUM MARKET 2016/FED 18
TRADING: DOWN TESTED 151/SUPPORT-EXPANDED-SELLING-TESTED TREND/SUPPORT
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