Friday, January 06, 2017


FARM COMMODITY TREND ANALYSIS JANUARY 06 2017 FRIDAY

MARKETS: PRICE SUPPLY/DEMAND USING RELATIVE STRENGTH OF TRADING
TREND CHANNEL: PARALLEL LINES JOINING HIGHER LOWS+TOPS  LOWER HIGHS+BOTTOMS 
TARGETS: DISTANCE (PROJECTED) MEASURED PRICE OBJECTIVES OF TRADING  (POSITION)
TRADING: DIRECTION  ACTIVITY  RELATIVE STRENGTH OF CHANNEL POSITION OF TARGET     

CORN/CH17: 25 CENT DAILY LIMIT  FREE WORLD STOCKS/UP  OPEN INTEREST/DOWN  MEDIUM VOLUME
TREND CHANNEL: UP/GRADUAL  NARROW RANGE MONTHLY  FUTURES PREMIUM MAR17/JUL18
TRADING: FLAT HIGH  DAY 1  SELLING  UPSIDE BOTTOM  THROUGH/CLOSED LOWER BELOW 360   
TARGETS: UP  351  (360)  377  395  COMMITMENTS: HEDGER SOLD SHORT, SOLD LONG, LESS NET LONG

SOYS/SH17: 65 CENT DAILY LIMIT  FREE WORLD STOCKS/UP  OPEN INTEREST/DOWN LOW VOLUME
TREND CHANNEL: DOWN/MEDIUM  MEDIUM RANGE MONTHLY  FUTURES PREMIUM JAN17/JUL17
TRADING: LOWER HIGH  SELLING  THROUGH/CLOSED LOWER BELOW CHANNEL BOTTOM  ABOVE 990    
TARGETS: DOWN, 1005  (990)  979  965  COMMITMENTS: HEDGER COVERED SHORT, LESS NET SHORT 

WHEAT/WH17: 35 CENT DAILY LIMIT  FREE WORLD STOCKS/UP   OPEN INTEREST/FLAT, LOW VOLUME
TREND CHANNEL: UP/GRADUAL  NARROW RANGE MONTHLY   FUTURES PREMIUM  MAR17/MAY19
TRADING: 8 HIGHER LOWS TOPPING  SELLING  TO/CLOSED AT SUPPORT MID CHANNEL  BELOW 424        
TARGETS: UP, 387  411  (424)  429  443  COMMITMENTS: HEDGER SOLD SHORT, LESS NET LONG

DOLLAR CAD/USD: CDH/17 4.00 DAILY LIIMIT.  OPEN INTEREST/FLAT  MEDIUM VOLUME
TREND CHANNEL: DOWN  WIDE RANGE MONTHLY  FUTURES  PREMIUM DEC16/DEC 21 
TRADING: 6 HIGHER LOWS  SELLING AT CHANNEL TOP/CLOSED BELOW  MET RESISTANCE AT 7584
TARGETS: DOWN, (7584-7556)  7521  7476  COMMITMENTS: HEDGER BOUGHT LONG, MORE NET LONG  

HEATING OIL ULSD  HOG/17  25 CENT DAILY LIMIT,  OPEN INTEREST/UP  MEDIUM VOLUME 
TREND CHANNEL: UP,/GRADUAL  WIDE RANGE MONTHLY   FUTURES PREMIUM JAN17/FEB18

TRADING: 3 HIGHER LOWS  BUYING  RESISTANCE/CLOSED  AT CHANNEL TOP  ABOVE 169 
TARGETS: UP, 151  164  (169)  177  COMMITMENTS: HEDGER  SOLD LONG, MORE NET SHORT
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