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 07, 2016
FARM COMMODITY SETTLEMENTS N0VEMBER 07/2016
MARKETS: PRICE SUPPLY/DEMAND USING RELATIVE STRENGTH OF TRADING
TREND: MONTHLY- LINE JOINING HIGHER LOWS (UP), LOWER HIGHS (DOWN)
TRADING: SHORT TERM-DIRECTION-RELATIVE STRENGTH OF MOMENTUM
TARGETS: PROJECTED: MEASURED PRICE OBJECTIVES OF MOVE
CORN/CZ16: 25 CENT DAILY LIMIT FLAT LOWS
TREND: UP/LESS, TARGETS 326-333-346-356, PREMIUM MARKET 2016/JUL 18
TRADING: FLAT/REPEATING-NET SELLING-TESTED 346/SUPPORT-BELOW TREND
POSITIONS: ACCUMULATION-FREE WORLD STOCKS FLAT
SOYBEANS/SF17: 65 CENT DAILY LIMIT HIGHER LOWS
TREND: UP/LESS, TARGETS: 975-998-1006-1016. PREMIUMS 2016/JUL 17
TRADING: UP/REPEATING-BUYING-TESTED 988/RESISTANCE-ABOVE TREND
POSITIONS: NEUTRAL-FREE WORLD STOCKS UP-LOW SALES
WHEAT/WZ16: 35 CENT DAILY LIMIT LOWER HIGH
TREND: UP/LESS, TARGETS: 387-411-429-443 PREMIUM MARKET 2016/MAY 18
TRADING: DOWN/ACCELERATED-NET SELLING-TESTED 411/SUPPORT-@REVISED TREND
POSITIONS: NEUTRAL-FREE WORLD STOCKS-FLAT/DOWN-
DOLLAR CAD/USD: CDZ/16 4.00 DAILY LIIMIT. HIGHER LOW
TREND: DOWN/NEW-TARGETS: 7628-7558-7503-7419 PREMIUM MARKET 2016/SEP 21
TRADING: UP/REPEATING-OFFSET BUYING-MET 7503/RESISTANCE-ONSIDE TREND
POSITIONS: NEUTRAL
HEATING OIL (ULSD)HOZ/16 25 CENT DAILY LIMIT FLAT LOW
TREND: UP/LESS TARGETS: 136-144-151-156-159, POSITIONS: LIQUIDATION
TRADING: FLAT/DECELERATED-OFFSET BUYING-TESTED 144,SUPPORT-ONSIDE TREND
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