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 01, 2016
FARM COMMODITY SETTLEMENTS N0VEMBER1/2016
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 MOVE/DAY 6 OF PROJECTED 6-TOPPY
TREND: UP/LESS, TARGETS 326-333-346-356, PREMIUM MARKET 2016/JUL 19
TRADING: DOWN--EXPANDED-SELLING-BELOW 356/RESISTANCE-UPSIDE TREND/SUPPORT
POSITIONS: MOMENTUM FLAT-FREE WORLD STOCKS FLAT
SOYBEANS/SF17: 65 CENT DAILY LIMIT MOVE/DAY 3 OF PROJECTED 6-DOWN
TREND: UP/LESS, TARGETS: 975-1006-1030-1078. PREMIUM MARKET 2016/JUL 17
TRADING: DOWN EXPANDED-SELLING-TESTED 1006/RESISTANCE AND TREND/SUPPORT
POSITIONS: MOMENTUM DECELERATED-FREE WORLD STOCKS UP
WHEAT/WZ16: 35 CENT DAILY LIMIT MOVE/DAY 5 OF PROJECTED 6-TOPPY
TREND: UP/LESS, TARGETS: 387-411-429-443 PREMIUM MARKET 2016/MAY 18
TRADING: UP-CONTRACTING-NET SELLING-UPSIDE 411/SUPPORT-ONSIDE TREND
POSITIONS: MOMENTUM ACCELERATED-FREE WORLD STOCKS-FLAT/DOWN
DOLLAR CAD/USD: CDZ/16 4.00 DAILY LIIMIT. MOVE/DAY 5 OF PROJECTED 6
TREND: DOWN/NEW-TARGETS: 7628-7558-7503-7419 PREMIUM MARKET 2016/SEP 21
TRADING: FLAT-EXPANDED-NET BUYING-ABOVE 7419/SUPPORT-BELOW TREND/RESISTANCE
POSITIONS: MOMENTUM ACCELERATED-
HEATING OIL (ULSD)HOZ/16 25 CENT DAILY LIMIT MOVE/DAY 3-LOWER HIGH
TREND: UP/LESS TARGETS: 136-144-151-156-159, PREMIUM MARKET 2016/FEB 18
TRADING: UP-EXPANDED-OFFSET SELLING-UPSIDE 151/SUPPORT-TESTED TREND RESISTANCE
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