Thursday, August 09, 2018

FARM COMMODITIES-TREND ANALYSIS-CLOSE AUGUST 09/2018

MARKETS: PRICE SUPPLY/EMAND USING PREVAILING MOMENTUM OF TREADING
TRENDS; LINES DOWN-CONNECTING LOWER HIGHS, UP-CONNECTING HIGHER LOWS
TRADING: DIRECTION/LENGTH OF PRICE RANGE. RELATIVE TO MOVES TRENDS TARGETS
TARGETS: PROJECTED PRICE LEVELS AS OBJECTIVES RESISTANCE/SUPPORT

CORN (DEC/18):
DAILY LIMIT $0.40/BU WORLD ENDING STOCKS DOWN 2.73MMT PROJ
TRENDS: PRICE UP/LESS-OPEN INTEREST DOWN/STEEP-VOLUME DOWN-RANGE (449-325)
TRADING: DOWN FROM TOP/MORE FORCE-MET SUPPORT@ 379-OFFSET SELLING
TARGETS: (361 (379-397) 415)-COMMITMENTS REPORT/NON COMMERCIAL SHORT COVERING

SOYBEANS (NOV/18): DAILY LIMIT $1.15/BU WORLD ENDING STOCKS UP 11.25MMT PROJ
TRENDS: PRICE DOWN-OPEN INTEREST DOWN/LESS-VOLUME DOWN-RANGE (1186-826)
TRADING: UP/LESS FORCE-ABOVE TREND-MET SUPPORT@CLOSED ABOVE 902-NET SELLING
TARGETS: (960 (931-902) 873)-COMMITMENTS REPORT/COMMERCIAL SHORT COVERING

WHEAT (SEP/18):
DAILY LIMIT $0.55/BU WORLD ENDING STOCKS DOWN 5.28MMT PROJ
TRENDS: PRICE DOWN-OPEN INTEREST DOWN/MORE-VOLUME DOWN-RANGE (575-387)
TRADING: MOVE DOWN/EQUAL FORCE-ABOVE TREND-TESTED SUPPORT@564-NET SELLING
TARGETS: (603 (584-564)-544)-COMMITMENTS REPORT/NON COMMERCIAL BUYING

DOLLAR CAD/USD: (SEP/18) DAILY LIMIT $4.00
TRENDS: PRICE DOWN-OPEN INTEREST DOWN/LESS-VOLUME UP-RANGE (8295-6810)
TRADING: FLAT/LESS FORCE-MET SUPPORT@TREND ABOVE 7635-NET SELLING
TARGETS: (7800 (7718-7635) 7553)-COMMITMENTS REPORT/NON-COMMERCIAL C0VERING
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