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.
Thursday, November 03, 2016
FARM COMMODITY SETTLEMENTS N0VEMBER 03/2016
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 4 OF 6 PROJECTED
TREND: UP/LESS, TARGETS 326-333-346-356, PREMIUM MARKET 2016/JUL 19
TRADING: FLAT/CONTRACTED-NET BUYING-ABOVE 346/SUPPORT-DOWNSIDE TREND
POSITIONS: MOMENTUM FLAT-FREE WORLD STOCKS FLAT-LOW SALES
SOYBEANS/SF17: 65 CENT DAILY LIMIT MOVE/DOWN DAY 5 OF 6 PROJECTED
TREND: UP/LESS, TARGETS: 975-998-1006-1016. OPEN INTEREST/YEAR TO YEAR LOW
TRADING: FLAT/CONTRACTED-NET BUYING-BELOW 998 + TREND/RESISTANCE
POSITIONS: MOMENTUM DECELERATED-FREE WORLD STOCKS UP-LOW SALES
WHEAT/WZ16: 35 CENT DAILY LIMIT MOVE/DOWN-DAY 1 OF DOWNSWING
TREND: UP/LESS, TARGETS: 387-411-429-443 PREMIUM MARKET 2016/MAY 18
TRADING: DOWN/EXPANDED-NET SELLING-MET 411/SUPPORT-TESTED TREND/SUPPORT
POSITIONS: MOMENTUM ACCELERATED-FREE WORLD STOCKS-FLAT/DOWN-
DOLLAR CAD/USD: CDZ/16 4.00 DAILY LIIMIT. MOVE/UP-DAY 6 OF 6 PROJECTED
TREND: DOWN/NEW-TARGETS: 7628-7558-7503-7419 PREMIUM MARKET 2016/SEP 21
TRADING: UP/CONTRACTING-NET SELLING-BELOW 7503-TESTED TREND/RESISTANCE
POSITIONS: MOMENTUM ACCELERATED-
HEATING OIL (ULSD)HOZ/16 25 CENT DAILY LIMIT MOVE/DOWN DAY 5 OF 6 PROJECTED
TREND: UP/LESS TARGETS: 136-144-151-156-159, SEPT/16 GAP FILLED
TRADING: DOWN/CONTRACTED-NET SELLING-MET 144/SUPPORT-UPSIDE TREND
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