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.
Tuesday, November 29, 2016
FARM COMMODITY SETTLEMENTS N0VEMBER 29/2016
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 OPEN INTEREST DOWN 32443 CONTRACTS
TREND: UP PREMIUM MARKET MAR17/JUL18 NET WORLD STOCKS DOWN
TARGETS: (PROJECTED) 351-360-377-395 NET COMMITMENTS-LIQUIDATION
TRADING: TESTED/CLOSED BELOW SUPPORT AT 351, AT TREND
SOYBEANS/SF17: 65 CENT DAILY LIMIT OPEN INTEREST UP 13978 CONTRACTS
TREND: UP/UP MORE. PREMIUM MARKET JAN17/JUL17 NET WORLD STOCKS-DOWN
TARGETS: (PROJECTED) 1030-1038-1049-1062 NET COMMITMENTS-ACCUMULATION
TRADING: MET/CLOSED ABOVE SUPPORT AT 1038, ABOVE TREND, OVERBOUGHT
WHEAT/WH17(NEW): 35 CENT DAILY LIMIT OPEN INTEREST DOWN 16310 CONTRACTS
TREND: UP PREMIUM MARKET MAR17/MAR19 NET WORLD STOCKS-UP
TARGETS: (PROJECTED) 409-425-437-446 NET COMMITMENTS-NET LIQUIDATION
TRADING: TESTED/CLOSED ABOVE SUPPORT AT 409 + AT PREVIOUS LOW, OVERSOLD
DOLLAR CAD/USD: CDZ/16 4.00 DAILY LIIMIT. REVERSAL SIGNAL IN PLACE
TREND: DOWN PREMIUM MARKET DEC16/SEP 21
TARGETS: (PROJECTED) 7628-7558-7503-7419 NET COMMITMENTS NET LIQUIDATION
TRADING: UPSIDE 7419 AND TREND AS SUPPORT
HEATING OIL (ULSD)HOF/17(NEW) 25 CENT DAILY LIMIT PREMIUM MARKET JAN17/MAR18
TREND: UP TARGETS: (PROJECTED) 136-144-151-156, NET COMMITMENTS: LIQUIDATION
TRADING: TESTED/CLOSED ABOVE SUPPORT AT 144, BELOW TREND
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