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 30, 2016
FARM COMMODITY SETTLEMENTS N0VEMBER 30/2016
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 FIRST NOTICE DAY CZ16
TREND: UP PREMIUM MARKET MAR17/JUL18 NET WORLD STOCKS DOWN
TARGETS: (PROJECTED) 325-340-351-360 NET COMMITMENTS-LIQUIDATION
TRADING: TESTED/CLOSED BELOW RESISTANCE AT 351, BELOW TREND, OVERSOLD
SOYBEANS/SF17: 65 CENT DAILY LIMIT OPEN INTEREST UP12346 CONTRACTS
TREND: UP/UP MORE. PREMIUM MARKET JAN17/JUL17 NET WORLD STOCKS-DOWN
TARGETS: (PROJECTED) 1030-1038-1049-1062 NET COMMITMENTS-ACCUMULATION
TRADING: TESTED/CLOSED BELOW SUPPORT AT BOTH 1038 AND TREND
WHEAT/WH17(NEW): 35 CENT DAILY LIMIT FIRST NOTICE DAY WZ16
TREND: DOWN (NEW) PREMIUM MARKET MAR17/MAR19 NET WORLD STOCKS-UP
TARGETS: (PROJECTED) 411=402-388-376 NET COMMITMENTS-NET LIQUIDATION
TRADING: MODERATE RANGE, MET SUPPORT@402, TESTED/CLOSED BELOW NEW TREND
DOLLAR CAD/USD: CDZ/16 4.00 DAILY LIIMIT. HIGHER LOW, FLAT CLOSE, SPIKED
TREND: DOWN PREMIUM MARKET DEC16/SEP 21
TARGETS: (PROJECTED) 7628-7558-7503-7419 NET COMMITMENTS NET LIQUIDATION
TRADING: WIDE RANGE, TESTED/CLOSED BELOW RESISTANCE AT 7503, ABOVE TREND
HEATING OIL (ULSD)HOF/17(NEW) 25 CENT DAILY LIMIT PREMIUM MARKET JAN17/MAR18
TREND: UP TARGETS: (PROJECTED) 151-156-164-177, NET COMMITMENTS: LIQUIDATION
TRADING: WIDE RANGE, TESTED/CLOSED ABOVE RESISTANCE AT BOTH 156 AND TREND
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