FARM COMMODITIES/TREND ANALYSIS/JUNE 6/2017
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, BULLISH
TREND: PRICE/UP, RANGE/(325-388), OPEN INTEREST/FLAT-BELOW TREND
TRADING: UP, CONVERGING TREND UP PREVAILED, MET 379/MAJOR RESISTANCE
TREND: PRICE/DOWN, RANGE/(1186-910), OPEN INTEREST/UP-ABOVE TREND
TRADING: UP, BEARISH SPIKE/PULL BACK, TESTED/CLOSED BELOW 927/RESISTANCE
WHEAT (JUL/17): $0.30/BU, FREE WORLD STOCKS PROJECTED/lLOWER, BULLISH
TREND: PRICE/UP, RANGE/(390-479), OPEN INTEREST/DOWN-ABOVE TREND
TRADING: UP, UPSIDE/CONFIRMING TREND AS VALID, MET 439/RESISTANCE
TARGETS: (410 420 429 439 449
DOLLAR CAD/USD: (JUN/17) 4.00 DAILY LIIMIT. WEAK BULLISH
TREND: PRICE/DOWN, RANGE/(7836-7261) OPEN INTEREST/FLAT=ONSIDE TREND
TRADING: UP, ACCELERATED, NET BUYING, BELOW TREND, TESTED 7438/RESISTANCE
HEATING OIL ULSD: (JUL/17), 25 CENT DAILY LIMIT, BEARISH
TREND: PRICE/DOWN, RANGE/(176 136), OPEN INTEREST/UP-BELOW TREND
TRADING: DOWN, DECELERATED, NET BUYING, BELOW TREND, MET 143/SUPPORT
TARGETS: (169 163 156 149 143) COMMITMENTS OF TRADERS, GAINING MOMENTUM
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