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 08, 2016
FARM COMMODITY SETTLEMENTS N0VEMBER 08/2016
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 MET RESISTANCE AT PREVIOUS HIGHS
TREND: UP/LESS, TARGETS 326-333-346-356, PREMIUM MARKET 2016/JUL 18
TRADING: UP/ACCELERATION-BUYING-FROM STRONG SUPPORT-ONSIDE TREND
POSITIONS: ACCUMULATION-FREE WORLD STOCKS FLAT
SOYBEANS/SF17: 65 CENT DAILY LIMIT MET RESISTANCE AT 1016
TREND: UP/LESS, TARGETS: 975-998-1006-1016. PREMIUM MARKET 2016/JUL 17
TRADING: UP/ACCELERATION-NET BUYING-ABOVE TREND
POSITIONS: NEUTRAL-FREE WORLD STOCKS UP
WHEAT/WZ16: 35 CENT DAILY LIMIT MET RESISTANCE AT PREVIOUS HIGH
TREND: UP/MORE, TARGETS: 387-411-429-443 PREMIUM MARKET 2016/MAY 18
TRADING: DOWN/ACCELERATION-NET BUYING-ABOVE 411-DOWNSIDE HIGHER TREND
POSITIONS: NEUTRAL-FREE WORLD STOCKS-FLAT/DOWN-
DOLLAR CAD/USD: CDZ/16 4.00 DAILY LIIMIT. TESTED RESISTANCE AT PREVIOUS HIGHS
TREND: DOWN/NEW-TARGETS: 7628-7558-7503-7419 PREMIUM MARKET 2016/SEP 21
TRADING: UP/REPEAT-BUYING-TESTED/CLOSED ABOVE 7503 + TREND RESISTANCE
POSITIONS: NEUTRAL
HEATING OIL (ULSD)HOZ/16 25 CENT DAILY LIMIT MET RESISTANCE AT 144
TREND: UP/LESS TARGETS: 136-144-151-156-159, POSITIONS: LIQUIDATION
TRADING: FLAT/REPEAT-OFFSET BUYING-FORMING A BOTTOM/SUPPORT
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