Monday, May 01, 2017


FARM COMMODITY TREND ANALYSIS MAY 01/2017 MONDAY
MARKETS: PRICE SUPPLY/DEMAND USING RELATIVE STRENGTH OF TRADING
TRENDS: LINES JOINING LONG TERM, LOWER HIGHS/DOWN, HIGHER LOWS/UP 
TARGETS: (PROJECTED) RESISTANCE/SUPPORT LEVELS, OBJECTIVES
 
TRADING: DIRECTION, STRENGTH, RELATIVE LOCATION TO TARGETS/CHANNEL

CORN (JUL/17): 25 CENT DAILY LIMIT NET WORLD STOCKS/UP            HIGHER LOW            
TREND: MONTHLY-LINE/UP, OPEN INTEREST/DOWN (LONG LIQUIDATION)
TRADING: UP/LEG, GAP UP, BUYING, TESTING RESISTANCE @ LAST WEEKLY HIGH/372     

TARGETS: UP  (351 360 372 385)  COMMITMENTS REPORT = MORE STRENGTH

SOYBEANS (JUL/17): 65 CENT LIMIT NET WORLD STOCKS DOWN       HIGHER LOW
TREND: MONTHLY-LINE/DOWN, OPEN INTEREST/DOWN-FLAT (LESS LIQUIDATION))
TRADING: UP/DRIFT UP, NET BUYING, RESISTANCE @ PREVIOUS HIGHS, TREND, 968  
 
TARGETS: DOWN, (1004 968 954 943)  COMMITMENTS REPORT= MORE STRENGTH

WHEAT (JUL/17): 35 CENT DAILY LIMIT NET WORLD STOCKS-UP,         HIGHER LOWS     
TREND: MONTHLY-LINE/UP, OPEN INTEREST/DOWN (SHORT COVERING
TRADING: UP/LEG, GAP UP, TESTED PREVIOUS HIGH, MET RESISTANCE @ 457,                       
TARGETS: UP, (411 422 434 457)  COMMITMENTS REPORT = MORE STRENGTH  

DOLLAR CAD/USD: (JUN/17)  4.00 DAILY LIIMIT.                                       LOWER HIGHS     
TREND: MONTHLY-LINE/DOWN OPEN INTEREST/UP (SHORT SELLING)
TRADING: FLAT/LEG DOWN, DECELERATION, OFFSET, TESTED RESISTANCE @ 7332                   
TARGETS: DOWN, (7503 7448 7420 7332)  COMMITMENTS REPORT =- MORE STRENGTH     

HEATING OIL ULSD: (JUN/17) (NEW)  25 CENT DAILY LIMIT,                   LOWER HIGHS 
TREND: MONTHLY-LINE DOWN/NEW, OPEN INTEREST/DOWN LONG (LIQUIDATION)
TRADING: DOWN/BREAKOUT, ACCELERATING, SELLING, DOWNSIDE 151/TREND   

TARGETS:UP, (151 156 164 169)  COMMITMENTS REPPORT = LESS STRENGTH
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