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 02, 2016
FARM COMMODITY SETTLEMENTS N0VEMBER2/2016
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/DOWN DAY 3 OF 6 PROJECTED
TREND: UP/LESS, TARGETS 326-333-346-356, PREMIUM MARKET 2016/JUL 19
TRADING: DOWN/CONTRACTED-NET SELLING-TESTED SUPPORT AT 346/TREND
POSITIONS: MOMENTUM FLAT-FREE WORLD STOCKS FLAT
SOYBEANS/SF17: 65 CENT DAILY LIMIT MOVE/DOWN 4 OF 6 PROJECTED DAYS
TREND: UP/LESS, TARGETS: 975-1006-1030-1078. OPEN INTEREST/YEAR TO YEAR LOW
TRADING: DOWN/CONTRACTED-NET SELLING-ABOVE 975-BREAKOUT DOWNSIDE TREND
POSITIONS: MOMENTUM DECELERATED-FREE WORLD STOCKS UP
WHEAT/WZ16: 35 CENT DAILY LIMIT MOVE/UP 3 OF 6 PROJECTED DAYS
TREND: UP/LESS, TARGETS: 387-411-429-443 PREMIUM MARKET 2016/MAY 18
TRADING: UP/EXPANDED-NET BUYING-UPSIDE 411/SUPPORT-TESTED TREND/RESISTANCE
POSITIONS: MOMENTUM ACCELERATED-FREE WORLD STOCKS-FLAT/DOWN
DOLLAR CAD/USD: CDZ/16 4.00 DAILY LIIMIT. MOVE/DOWN 6 OF 6 PROJECTED DAYS
TREND: DOWN/NEW-TARGETS: 7628-7558-7503-7419 PREMIUM MARKET 2016/SEP 21
TRADING: FLAT-CONTRACTED-NET SELLING-BELOW 7503-DOWNSIDE TREND
POSITIONS: MOMENTUM ACCELERATED-
HEATING OIL (ULSD)HOZ/16 25 CENT DAILY LIMIT MOVE/DOWN 4 OF 6 PROJECTED DAYS
TREND: UP/LESS TARGETS: 136-144-151-156-159, PREMIUM MARKET 2016/FEB 18
TRADING: DOWN/CONTRACTED-SELLING-TESTED 144/SUPPORT-ABOVE REVISED TREND
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