Sunday, May 07, 2017


FARM COMMODITY TREND ANALYSIS MAY 05/2017 FRIDAY
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/UP (SHORT COVERING)
TRADING: FLAT/LEG DOWN, NET BUYING RESISTANCE@372, TRENDS CONVERGING,

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

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

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

WHEAT (JUL/17): $0.30/BU INITIAL LIMIT, NET WORLD STOCKS-UP,    FUTURES-UP     
TREND: MONTHLY-LINE/UP, OPEN INTEREST/DOWN (SHORT COVERING)
TRADING: FLAT/GAP UP NOT FILLED, NET BUYING, RESISTANCE@443 DECELERATION                        
TARGETS: UP, (422 434 443 457 480)  COMMITMENTS REPORT = STRENGTH REDUCED  

DOLLAR CAD/USD: (JUN/17)  4.00 DAILY LIIMIT.                                LOWER HIGHS     
TREND: MONTHLY-LINE/DOWN, OPEN INTEREST/UP, (LONG ACCUMULATION)
TRADING: UP/LEG DOWN, BUYING, RESISTANCE DOWNSIDE 7332/TREND                   
TARGETS: (7416 7332 7298 7260)  COMMITMENTS REPORT = STRENGTH INCREASED     

HEATING OIL ULSD: (JUN/17),  25 CENT DAILY LIMIT,                 FUTURES-UP
TREND: WEEKLYLY-LINE DOWN, OPEN INTEREST/UP, (LONG ACCUMULATION)
TRADING: DOWN/LEG DOWN, NET BUYING, RESISTANCE@146, BELOW TREND

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