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.
Sunday, November 06, 2016
FARM COMMODITY SETTLEMENTS N0VEMBER 04/2016
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/UP DAY 1 OF 6 PROJECTED
TREND: UP/LESS, TARGETS 326-333-346-356, PREMIUM MARKET 2016/JUL 19
TRADING: UP/NEUTRAL-OFFSET BUYING-UPSIDE 346/SUPPORT-DOWNSIDE TREND
POSITIONS: ACCUMULATION-FREE WORLD STOCKS FLAT-LOW SALES
SOYBEANS/SF17: 65 CENT DAILY LIMIT MOVE/FLAT DAY 2
TREND: UP/LESS, TARGETS: 975-998-1006-1016. OPEN INTEREST/YEAR TO YEAR LOW
TRADING: FLAT/CONTRACTED-MATCHED-BELOW 998-REVISING TREND LOWER
POSITIONS: NEUTRAL-FREE WORLD STOCKS UP-LOW SALES
WHEAT/WZ16: 35 CENT DAILY LIMIT MOVE/FLAT-DAY 2 OF DOWNSWING
TREND: UP/LESS, TARGETS: 387-411-429-443 PREMIUM MARKET 2016/MAY 18
TRADING: FLAT/CONTRACTED-OFFSET BUYING-UPSIDE 411/SUPPORT-BELOW TREND
POSITIONS: NEUTRAL-FREE WORLD STOCKS-FLAT/DOWN-
DOLLAR CAD/USD: CDZ/16 4.00 DAILY LIIMIT. MOVE/DOWN-TEST OF BOTTOM-
TREND: DOWN/NEW-TARGETS: 7628-7558-7503-7419 PREMIUM MARKET 2016/SEP 21
TRADING: DOWN/EXPAN3DED-OFFSET BUYING-UPSIDE 7419/SUPPORT-BELOW TREND
POSITIONS: NEUTRAL
HEATING OIL (ULSD)HOZ/16 25 CENT DAILY LIMIT MOVE/DOWN DAY 6 OF 6 PROJECTED
TREND: UP/LESS TARGETS: 136-144-151-156-159, POSITIONS: LIQUIDATION
TRADING: DOWN/EXPANDED-NET SELLING-TESTED 144 + TREND/SUPPORT
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