Thursday, June 01, 2017

FARM COMMODITIES/TREND ANALYSIS/JUNE1/2017
MARKETS: PRICE SUPPLY/DEMAND USING RELATIVE STRENGTH OF TRADING
TREND DOWN: LINE JOINS LOWER HIGHS, TREND UP: LINE JOINS HIGHER LOWS 
TRADING: DIRECTION, RELATIVE STRENGTH OF ACTIVITY/TREND/TARGETS

TARGETS: PROJECTED PRICE LEVELS AS OBJECTIVES/RESISTANCE/SUPPORT


CORN (JUL/17):
 $0.25/BU,  FREE WORLD STOCKS PROJECTED/LOWER,                
TREND: PRICE/UP, RANGE/(325-388), OPEN INTEREST/UP-BELOW TREND                
TRADING: DOWN,TO POINT OF CONVERGENCE, TREND UP PREVAILING, ONSIDE 370
TARGETS: (352 361 370 379 388), COMMITMENTS, LOSING RELATIVE STRENGTH

SOYS (JUL/17): $0.70/BU, DAY 1 LIMIT, FREE WORLD STOCKS PROJECTED/LOWER,
TREND: PRICE/DOWN, RANGE/(1186-927), OPEN INTEREST/UP-ABOVE TREND
TRADING: FLAT/910 SUPPORT PREVAILING, LOW VOLUME, OFFSET SELLING
TARGETS:: (945 927 910 893 876), COMMITMENTS, GAINED RELATIVE STRENGTH

WHEAT (JUL/17): $0.30/BU INITIAL LIMIT, FREE WORLD STOCKS PROJECTED/lLOWER         
TREND: PRICE/UP, RANGE/(390-479), OPEN INTEREST/FLAT-ABOVE TREND          
TRADING: DOWN, TESTED/CLOSED ABOVE TREND, SUPPORT @ 420,                             
TARGETS: (410 420 429 439 449
), COMMITMENTS, LOST RELATIVE STRENGTH

DOLLAR CAD/USD:
 (JUN/17)  4.00 DAILY LIIMIT.                                     

TREND: PRICE/DOWN, RANGE/(7836-7305)  OPEN INTEREST/FLAT=BESIDE TREND     
TRADING: DOWN,  NET SELLING, ABOVE TREND, SUPPORT HELD @ 7393,                             
TARGETS: (7659 7570 7482 7393 7305)  COMMITMENTS, RELATIVE STRENGTH IN BALANCE    

HEATING OIL ULSD: (JUL/17),  25 CENT DAILY LIMIT,                      
TREND: PRICE/DOWN, RANGE/(184 137), OPEN INTEREST/DOWN-BELOW TREND
TRADING: DOWN, DECELERATED, NET SELLING, BELOW TREND, SUPPORT HELD @ 149
TARGETS: (164 159 153 147 136)  COMMITMENTS, GAINING RELATIVE STRENGTH

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