Wednesday, October 07, 2020

Major Grains+CADUSD-Trends.Trading.Targets-Oct7/2020-Wed.

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

CORN (ZCZ20). LIMIT $0.25/BU-WORLD ENDING STOCKS/LESS CHINA-2019/20=+2.42MMT
TRENDS: PRICE UP-OPEN INTEREST UP-VOLUME DOWN-RANGE LONG TERM (302-473)
TRADING: UP-ON TREND-SUPPORT@383-DEESCALATED-NET BUYING-CLOSE UP ON TREND.  
TARGETS: (345 (383-403) 423)/NET COMMITMENTS-USERS MORE SHORT/FUNDS MORE LONG

SOYS (ZSX20). LIMIT $0.60/BU-WORLD ENDING STOCKS/LESS CHINA-2019/20=(26.98)MMT 
TRENDS: PRICE UP/LESS-OPEN INTEREST UP-VOLUME DOWN-LONG TERM (791-1067).
TRADING: UP-ABOVE TREND-SUPPORT@1043-DEESCALATED-NET BUYING-CLOSE UP-NEW HIGH. 
TARGETS: (1011 (1043-1075) 1108)/NET COMMITMENTS: USERS MORE SHORT/FUNDS MORE LONG.

WHEAT (ZWZ20): LIMIT $0.40/BU WORLD END STOCKS/LESS CHINA-19/20=+1.42MMT 
TRENDS: PRICE UP(MORE)-OPEN INTEREST UP-VOLUME FLAT-LONG TERM (387-602). 
TRADING:MOVE UP-ABOVE TREND-TESTED 609-DEESCALATED-NET BUYING-CLOSE UP.  
TARGETS: (561 (585-609) 634)/NET COMMITMENTS: USERS FLAT SHORT/FUNDS FLAT LONG

DOLLAR (D6Z20): DAY LIMIT $4.00                    
TRENDS: PRICE DOWN-OPEN INTEREST UP/DRIFT-VOLUME DOWN-LONG TERM RANGE-(8295-6809)
TRADING: DOWN-ON TREND-7493 LOW-DEESCALATED-NET SELLING-CLOSE UP-LOWER HIGH.
TARGETS: (7406 (7493-7579) 7666)/COMMITMENTS:USERS MORE LONG/FUNDS FLAT SHORT

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