Monday, December 16, 2019

MAJOR GRAINS+CAD/USD-TREND ANALYSIS-DEC16/2019-MON

MARKETS: PRICE SUPPLY/DEMAND DURING PREVAILING MOMENTUM OF TRADING
TRENDS-LINES UP: JOINING DISTINCT HIGHER LOWS.-LINES DOWN: JOINING DISTINCT LOWER HIGHS 
TRADED: DIRECTION-ACTIVITY-MOMENTUM, (HI/LO PRICE RANGE)-TRENDS-TARGETS
TARGETS: PROJECTED MEASURED PRICE LEVELS AS OBJECTIVES OF RESISTANCE/SUPPORT

CORN (ZCH20): DAY LIMIT $0.25/BU-WORLD ENDING STOCKS/LESS CHINA-2019/20=DOWN 1.17MMT
TRENDS: PRICE-UP/STEEP/NEW. OPEN INTEREST-UP. VOLUME-UP. LONG TERM RANGE (352-473)
TRADING UP-NET BUYING-LOSING MOMENTUM-ON TREND-MET MAJOR RESISTANCE/CLOSED@387  
TARGETS/(352 (369-387) 405)/NET COMMITMENT-HEDGERS FLAT SHORT/TRADERS MORE SHORT 

SOYS (ZSH20)-DAY LIMIT $0.65/BU-WORLD END STOCKS/LESS CHINA-2019/20=UP 1.18MMT 
TRENDS: PRICE UP/NEW. OPEN INTEREST-DOWN. VOLUME DOWN. LONG TERM RANGE (791-1067) 
TRADED UP/STEEP-BUYING-LOST MOMENTUM-ON TREND-CLOSED ABOVE 932/MAJOR RESISTANCE  
TARGETS/(875 (903-932) 960)/NET COMMITMENT-HEDGERS MORE LONG/TRADERS MORE SHORT

WHEAT (ZWH20): DAY LIMIT $0.35/BU WORLD ENDING STOCKS/LESS CHINA-19/20=DOWN 0.57MMT 
TRENDS: PRICE-UP/NEW. OPEN INTEREST-UP. VOLUME-UP. LONG TERM RANGE (387-593). 
TRADING UP-NET BUYING-GAINED MOMENTUM-TESTED/CLOSED@TREND/550 AS MAJOR RESISTANCE    
TARGETS/(520 (540-561) 581)/NET COMMITMENT-HEDGERS FLAT SHORT/TRADERS FLAT LONG

DOLLAR (D6H20)/NEW CAD/USD : DAY LIMIT $4.00                    
TRENDS: PRICE-DOWN. OPEN INTEREST-UP. VOLUME-DOWN. LONG TERM RANGE (6809-8295)
TRADED UP-OFFSET-GAINED MOMENTUM-ON TREND-TESTED/CLOSED ABOVE PREVIOUS HIGH@7600 
TARGETS/(7634-7552) 7469)/NET COMMITMENT-HEDGERS MORE SHORT/TRADERS FLAT LONG

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