Tuesday, February 21, 2017


FARM COMMODITY TREND ANALYSIS FEB/21/2017 TUESDAY

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  STRENGTH  RELATIVE LOCATION TO TARGETS/CHANNEL

CORN (MAY/17): 25 CENT DAILY LIMIT FREE WORLD STOCKS/UP O-I/NEW HIGH  
TREND CHANNEL:MONTHLY UP/GRADUAL/NARROW  HIGHER LOWS  PREMIUMS FORWARD
TRADING: DAILY UP ONSIDE MID CHANNEL  (DOWNSIDE RESISTANCE @377)    

TARGETS: UP  (360  363  (367  372  (377)  NET COMMITMENTS: COMMERCIALS MORE SHORT

SOYS (MAY/17): 65 CENT LIMIT FREE WORLD STOCKS DOWN OPEN INTEREST/UPPER RANGE
TREND CHANNEL: MONTHLY UP/MODERATE/WIDE  YEARLY-HIGHER LOWS
TRADING: DAILY DOWN INSIDE LOWER CHANNEL  (ONSIDE SUPPORT@1038)

TARGETS: UP, (1030 (1038  1049  1062)  NET COMMITMENTS: COMMERCIALS MORE SHORT 

WHEAT (MAY/17): 35 CENT DAILY LIMIT FREE WORLD STOCKS/UP O-I/UPPER RANGE     
TREND CHANNEL: MONTHLY UP/GRADUAL/NARROW  HIGHER LOWS  PREMIUMS FORWARD
TRADING: DAILY DOWN TESTING SUPPORT UPSIDE CHANNEL TOP  (INSIDE 454-449)              
TARGETS: UP, (443  454)  462)  471  NET COMMITMENTS: COMMERCIALS LESS LONG 

DOLLAR CAD/USD: (MAR/17)  4.00 DAILY LIIMIT. OPEN INTEREST/LOWER RANGE
TREND CHANNEL: WEEKLY UP/MODERATE ANGLE/RANGE  YEARLY-HIGHER LOWS  
TRADING: DAILY DOWN ONSIDE CHANNEL BOTTOM   (ONSIDE SUPPORT@7602)       
TARGETS: UP, 7556  7584  (7602  7625)  NET COMMITMENTS: COMMERCIALS MORE SHORT   

HEATING OIL ULSD: (APR/17)  25 CENT DAILY LIMIT,   OPEN INTEREST @ TOP
TREND CHANNEL: MONTHLY UP,/GRADUAL/WIDE  YEARLY HIGHER LOWS  PREMIUMS
TRADING: DAILY UPSIDE MID CHANNEL  DOWNSIDE RESISTANCE@169)
TARGETS: UP, (159  (164  169)  176  NET COMMITMENTS: COMMERCIALS LESS SHORT
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