Monday, January 23, 2017


FARM COMMODITY TREND ANALYSIS JANUARY/23/2017 MONDAY

MARKETS: PRICE SUPPLY/DEMAND USING RELATIVE ACTIVITY/STRENGTH OF TRADING
TREND CHANNEL: PARALLEL LINES JOINING HIGHER LOWS+TOPS  LOWER HIGHS+BOTTOMS 
TARGETS: (PROJECTED) RESISTANCE/SUPPORT LEVELS  OBJECTIVES
  
TRADING: DIRECTION  ACTIVITY  STRENGTH  RELATIVE LOCATION TO CHANNEL/TARGETS    

CORN/CH17: 25 CENT DAILY LIMIT  FREE WORLD STOCKS/DOWN  MET SUPPORT@367
TREND CHANNEL: UP/GRADUAL  NARROW RANGE MONTHLY  PREMIUM MARKET FORWARD-DEC/19
TRADING: UP  5TH HIGHER LOW IN MOVE  CLOSED FLAT UPSIDE  MID CHANNEL     

TARGETS: UP  360  363  (367) 372  377  COMMITMENTS OF TRADERS: NET INCREASE-3RD WEEK 

SOYBEANS/SH17: 65 CENT DAILY LIMIT  FREE WORLD STOCKS/DOWN  PENETRATED SUPPORT@1062
TREND CHANNEL: UP/NEW  WIDE RANGE  MONTHLY  PREMIUM MARKET FORWARD-AUG/17
TRADING: DOWN  3RD LOWER HIGH IN MOVE  CLOSED LOWER UPPER CHANNEL             
TARGETS: DOWN, 1030  1049  (1062)  1077  COMMITMENTS OF TRADERS: NET INCREASE-WEEK/1 

WHEAT/WH17: 35 CENT DAILY LIMIT  FREE WORLD STOCKS/UP   MET RESISTANCE BELOW 435
TREND CHANNEL: UP/GRADUAL  NARROW RANGE MONTHLY  PREMIUM MARKET FORWARD-JUL/19
TRADING: UP  HIGHER LOW IN MOVE  CLOSED HIGHER ABOVE MID CHANNEL            
TARGETS: UP,  424  429  (435)  443  COMMITMENTS OF TRADERS: NET FLAT-1ST WEEK 

DOLLAR CAD/USD: CDH/17 4.00 DAILY LIIMIT.       MODERATE VOLUME  MET RESISTANCE@7556
TREND CHANNEL: DOWN/MODERATE  WIDE RANGE MONTHLY  PREMIUM MARKET FORWARD-DEC/21 
TRADING: UP  HIGHER LOW IN MOVE  TESTED/CLOSED HIGHER ABOVE TOP OF CHANNEL       
TARGETS: DOWN,  (7556)  7521  7476  7448  COMMITMENTS OF TRADERS: NET DECREASE-2ND WEEK   

HEATING OIL ULSD  HOH/17  25 CENT DAILY LIMIT,   MODERATE VOLUME  MET SUPPORT@164
TREND CHANNEL: UP,/GRADUAL  WIDE RANGE MONTHLY   PREMIUM MARKET FORWARD-JAN21

TRADING: INSIDE DAY IN MOVE  NET SELLING   CLOSED LOWER ABOVE MID CHANNEL 
TARGETS: UP, 151  (164)  169  177  COMMITMENTS OF TRADERS: NET INCREASE-1ST WEEK 
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