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, November 21, 2016
FARM COMMODITY SETTLEMENTS N0VEMBER 21/2016
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 BROKE OUT UP OUT OF CONVERGENCE
TREND: UP PREMIUM MARKET MAR17/JUL18 NET WORLD STOCKS DOWN
TARGETS: (PROJECTED) 351-360-377-395 NET COMMITMENTS-DECREASED
TRADING: CONSTANT UP/ BUYING-UPSIDE TREND SUPPORT-BELOW 360 RESISTANCE
SOYBEANS/SF17: 65 CENT DAILY LIMIT TESTED/CLOSED UP ABOVE CONVERGENCE
TREND: UP/MORE. PREMIUM MARKET JAN17/JUL17 NET WORLD STOCKS-DOWN
TARGETS: (PROJECTED) 934-975-1006-1030 NET COMMITMENTS-DECREASED
TRADING: ACCELERATED UP/BUYING-TESTED TREND MET RESISTANCE@LAST HIGHS
WHEAT/WH17(NEW): 35 CENT DAILY LIMIT OPEN INTEREST AT YEAR TO YEAR HIGH
TREND: UP PREMIUM MARKET MAR17/DEC19 NET WORLD STOCKS-UP
TARGETS: (PROJECTED) (NEW) 409-425-437-446 NET COMMITMENTS-CONSTANT
TRADING: DECELERATED UP/OFFSET BUYING-TESTED/CLOSED ABOVE TREND/425 RESISTANCE
DOLLAR CAD/USD: CDZ/16 4.00 DAILY LIIMIT. FLAT CLOSE/NO BREAKOUT BELOW 7420
TREND: DOWN PREMIUM MARKET DEC16/SEP 21
TARGETS: (PROJECTED) 7628-7558-7503-7420 NET COMMITMENTS DECREASED
TRADING: ACCELERATED UP/NET BUYING-TESTED/CLOSED ABOVE TREND/7420 RESISTANCE
HEATING OIL (ULSD)HOF/17(NEW) 25 CENT DAILY LIMIT PREMIUM MARKET JAN17/MAR18
TREND: UP TARGETS: (PROJECTED) 152-150-145-136, NET COMMITMENTS DECREASED
TRADING: ACCELERATED UP/BUYING-UPSIDE TREND BELOW 156/RESISTANCE
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