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 09, 2016
FARM COMMODITY SETTLEMENTS N0VEMBER 09/2016
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 LOWER HIGH/CLOSED BELOW TREND
TREND: UP/LESS, TARGETS 326-333-346-356, PREMIUM MARKET 2016/JUL 18
TRADING: DOWN/ACCELERATION SELLING-MET SUPPORT/CLOSED ONSIDE 341
POSITIONS: ACCUMULATION-FREE WORLD STOCKS FLAT
SOYBEANS/SF17: 65 CENT DAILY LIMIT LOWER HIGH/CLOSED ABOVE TREND
TREND: UP/LESS, TARGETS: 975-998-1006-1016. PREMIUM MARKET 2016/JUL 17
TRADING: DOWN/ACCELERATION-NET SELLING-TESTED/CLOSED BELOW 988/SUPPORT
POSITIONS: NEUTRAL-FREE WORLD STOCKS UP
WHEAT/WZ16: 35 CENT DAILY LIMIT LOWER HIGH-TESTED/CLOSED ABOVE TREND
TREND: UP/MORE, TARGETS: 387-411-429-443 PREMIUM MARKET 2016/MAY 18
TRADING: DOWN/ACCELERATION-NET SELLING-CLOSED ONSIDE 411
POSITIONS: NEUTRAL-FREE WORLD STOCKS-FLAT/DOWN-
DOLLAR CAD/USD: CDZ/16 4.00 DAILY LIIMIT. FLAT/CLOSED BELOW TREND
TREND: DOWN/NEW-TARGETS: 7628-7558-7503-7419 PREMIUM MARKET 2016/SEP 21
TRADING: FLAT/ACCELERATED-NET SELLING-TESTED 7419/SUPPORT
POSITIONS: NEUTRAL
HEATING OIL (ULSD)HOZ/16 25 CENT DAILY LIMIT FLAT/MET TREND/RESISTANCE
TREND: UP/LESS TARGETS: 136-144-151-156-159, POSITIONS: LIQUIDATION
TRADING: FLAT/ACCELERATED-OFFSET BUYING-TESTED/CLOSED AT 144/RESISTANCE
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