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.
Wednesday, November 23, 2016
FARM COMMODITY SETTLEMENTS N0VEMBER 23/2016
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 PAUSE IN MOVE
TREND: UP PREMIUM MARKET MAR17/JUL18 NET WORLD STOCKS DOWN
TARGETS: (PROJECTED) 351-360-377-395 NET COMMITMENTS-DECREASED
TRADING: CONSTANT FLAT/OFFSET BUYING-ABOVE TREND MET 360/RESISTANCE
SOYBEANS/SF17: 65 CENT DAILY LIMIT OPEN INTEREST CONTINUES UP SHARPLY FROM LOW
TREND: UP/UP MORE. PREMIUM MARKET JAN17/JUL17 NET WORLD STOCKS-DOWN
TARGETS: (PROJECTED) 934-975-1006-1030 NET COMMITMENTS-DECREASED
TRADING: CONSTANT UP/NET BUYING-TESTED/CLOSED ABOVE TREND/1030/PREVIOUS HIGH
WHEAT/WH17(NEW): 35 CENT DAILY LIMIT LOOKS TOPPY/LOWER HIGH
TREND: UP PREMIUM MARKET MAR17/MAR19 NET WORLD STOCKS-UP
TARGETS: (PROJECTED) 409-425-437-446 NET COMMITMENTS-CONSTANT
TRADING: ACCELERATED DOWN/NET SELLING-TESTED/CLOSED BELOW TREND+425/SUPPORT
DOLLAR CAD/USD: CDZ/16 4.00 DAILY LIIMIT. OPEN INTEREST CONTINUES DOWN
TREND: DOWN PREMIUM MARKET DEC16/SEP 21
TARGETS: (PROJECTED) 7628-7558-7503-7420 NET COMMITMENTS DECREASED
TRADING: ACCELERATED DOWN/OFFSET BUYING-TESTED/CLOSED ABOVE TREND+7420/SUPPORT
HEATING OIL (ULSD)HOF/17(NEW) 25 CENT DAILY LIMIT PREMIUM MARKET JAN17/MAR18
TREND: UP TARGETS: (PROJECTED) 144-151-156-164, NET COMMITMENTS DECREASED
TRADING: DECELERATED DOWN/NET SELLING-ABOVE TREND MET 156/RESISTANCE-OVERBOUGHT
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