Wednesday, May 13, 2020

MAJOR GRAINS+CAD/USD-TRENDS/TRADING-MAY13/2020-WED

MARKETS: PRICE SUPPLY/DEMAND DURING PREVAILING VOLATILITY OF TRADING
TRENDS: LINES UP: JOIN DISTINCT HIGHER LOWS-LINES DOWN: JOIN DISTINCT LOWER HIGHS 
TRADING: DIRECTION-TREND-TARGET-VOLATILITY(HI/LO PRICE RANGE LENGTH)-ACTIVITY
TARGETS: PROJECTED MEASURED PRICE LEVELS AS OBJECTIVES OF RESISTANCE/SUPPORT

CORN (ZCN20): DAY LIMIT $0.25/BU-WORLD ENDING STOCKS/LESS CHINA-2019/20=UP 2.56MMT
TRENDS PRICE-DOWN/MAJOR, OPEN INTEREST-UP/DAY. VOLUME-FLAT. LONG TERM-(473-302)
TRADED FLAT-ON TREND-SUPPORT@314-QUIET-SELLING-CLOSED BELOW CONVERGING TRENDS  
TARGETS/(355 (334-314) 294)/NET COMMITMENTS-HEDGERS MORE LONG/ FUNDS MORE SHORT.

SOYS (ZSN20)-DAY LIMIT $0.65/BU-WORLD ENDING STOCKS/LESS CHINA-2019/20-DOWN-2.68MMT 
TRENDS PRICE-DOWN. OPEN INTEREST-UP/LESS. VOLUME-FLAT. LONG TERM RANGE-(1067-791).
TRADED DOWN-TESTED/CLOSED BELOW TREND/850-STRONG-SELLING-MID FLAT CONSOLIDATION 
TARGETS (878 (850-821) 792/NET COMMITMENTS-HEDGERS MORE SHORT/FUNDS MORE LONG

WHEAT (ZWN20): DAY LIMIT $0.35/BU WORLD ENDING STOCKS/LESS CHINA-19/20=UP 3.34MMT 
TRENDS PRICE-DOWN/MAJOR. OPEN INTEREST-FLAT. VOLUME-FLAT. LONG TERM-(593-387). 
TRADING DOWN/STEEP-ON TREND-SUPPORT@494-MODERATE-SELLING-BELOW CONVERGENCE  
TARGETS/(542 (518-494) 471)/NET COMMITMENTS-HEDGERS LESS SHORT/FUNDS LESS LONG

DOLLAR (D6M20)/NEW CAD/USD : DAY LIMIT $4.00                    
TRENDS PRICE DOWN. OPEN INTEREST-UP. VOLUME-FLAT. LONG TERM-(8295-6809)
TRADED DOWN/STEEP-BELOW TREND-CLOSED BELOW 7109-WEAK-SELLING-MID CONSOLIDATION
TARGETS/(7197 (7109-7021) 6933)/NET COMMITMENTS-HEDGERS FLAT LONG/FUNDS MORE SHORT

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