Thursday, May 04, 2017


FARM COMMODITY TREND ANALYSIS MAY 04/2017 THURSDAY
MARKETS: PRICE SUPPLY/DEMAND USING RELATIVE STRENGTH OF TRADING
TRENDS: LINES, LONG TERM, JOINING, LOWER HIGHS/DOWN, HIGHER LOWS/UP 
TARGETS:  RESISTANCE/SUPPORT LEVELS, OBJECTIVES (PROJECTED)
 
TRADING: DIRECTION, STRENGTH, RELATIVE LOCATION TO TRENDS/TARGETS 

CORN (JUL/17): $0.25/BU, DAY 1 LIMIT, NET WORLD STOCKS/UP,    FUTURES-FLAT            
TREND: MONTHLY-LINE/UP, OPEN INTEREST/DOWN (LIQUIDATION)
TRADING: DOWN/FILLED GAP UP, SELLING, DOWNSIDE TOP CONVERGING TREND

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

SOYS (JUL/17): $0.70/BU, DAY 1 LIMIT, NET WORLD STOCKS DOWN, FUTURES-FLAT
TREND: MONTHLY-LINE/DOWN, OPEN INTEREST/FLAT (OFFSET)
TRADING: UP/LEG UP, BUYNG BOTH SIDES, NO BREAKOUT ABOVE HIGHS, FLAT CLOSE

TARGETS: DOWN, (1004 968 954 943)  COMMITMENTS REPORT= MORE STRENGTH

WHEAT (JUL/17): $0.30/BU INITIAL LIMIT, NET WORLD STOCKS-UP,    FUTURES-UP     
TREND: MONTHLY-LINE/UP, OPEN INTEREST/FLAT (OFFSET)
TRADING: DOWN/ ISLAND REVERSAL NOT COMPLETE , SELLING, LOWER HIGH                        
TARGETS: UP, (411 422 434 457 480)  COMMITMENTS REPORT = MORE STRENGTH  

DOLLAR CAD/USD: (JUN/17)  4.00 DAILY LIIMIT.       NEW LOW           LOWER HIGHS     
TREND: MONTHLY-LINE/DOWN (MORESO), OPEN INTEREST/UP, (SHORT SELLING)
TRADING: DOWN/LEG DOWN, NET SELLING, MET SUPPORT @ 7260, BELOW TREND                   
TARGETS: DOWN, (7332 7298 7260 7216)  COMMITMENTS REPORT =-MORE STRENGTH     

HEATING OIL ULSD: (JUN/17) (NEW)  25 CENT DAILY LIMIT,                 FUTURES-UP
TREND: WEEKLYLY-LINE DOWN, MORESO OPEN INTEREST/UP, (SHORT SELLING)
TRADING: DOWN/LEG DOWN, ACCELERATED, SELLING, THROUGH 146, BELOW TREND

TARGETS: DOWN, (153 146 134 111)  COMMITMENTS REPORT = LESS STRENGTH
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