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, November 17, 2016
FARM COMMODITY SETTLEMENTS N0VEMBER 17/2016
MARKETS: PRICE SUPPLY/DEMAND USING RELATIVE STRENGTH OF TRADING
TREND: DIRECTION-MONTHLY- LINE JOINING HIGHER LOWS (UP), LOWER HIGHS (DOWN)
TARGETS: DISTANCE (PROJECTED) MEASURED PRICE OBJECTIVES OF TRADING
TRADING: MOMENTUM, MOVEMENT, RELATIVE STRENGTH OF TREND, TARGETS
CORN/CH17(NEW): 25 CENT DAILY LIMIT TREND IS BASIS MAR17 FUTURE
TREND: UP PREMIUM MARKET MAR17/JUL18 NET WORLD STOCKS DOWN
TARGETS: (PROJECTED) (NEW) 325-340-351-360 NET COMMITMENTS-INCREASED
TRADING: CONSTANT DOWN/NET BUYING-MET RESISTANCE AT TREND-AT 351
SOYBEANS/SF17: 65 CENT DAILY LIMIT 2 STRONG TRENDS CONVERGING NEARBY
TREND: UP-3RD REVISED LOWER. PREMIUM MARKET JAN17/JUL17 STOCKS-DOWN
TARGETS: (PROJECTED) 934-975-1006-1030 NET COMMITMENTS-INCREASED
TRADING: DECELERATED DOWN/NET BUYING-MET SUPPORT AT TREND-ABOVE 975
WHEAT/WH17(NEW): 35 CENT DAILY LIMIT TREND IS BASIS MAR17 FUTURE
TREND: UP PREMIUM MARKET MAR17/DEC18 NET WORLD STOCKS-UP
TARGETS: (PROJECTED) (NEW) 409-425-437-446 NET COMMITMENTS-CONSTANT
TRADING: ACCELERATED UP/NET BUYING-BELOW TREND/425 AS RESISTANCE
DOLLAR CAD/USD: CDZ/16 4.00 DAILY LIIMIT. TESTED/CLOSED BELOW 7420/BOTTOM
TREND: DOWN PREMIUM MARKET DEC16/SEP 21
TARGETS: (PROJECTED) 7628-7558-7503-7420 NET COMMITMENTS INCREASED
TRADING: CONSTANT FLAT/NET SELLING-MET RESISTANCE AT TREND
HEATING OIL (ULSD)HOF/17(NEW) 25 CENT DAILY LIMIT TREND/3RD REVISED LOWER
TARGETS: (PROJECTED) 152-150-145-136, NET COMMITMENTS INCREASED
TRADING: DECELERATED UP/NET BUYING- TESTED RESISTANCE AT TREND-UPSIDE 144
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