Tuesday, November 10, 2020

Major Grains+CADUSD-Trends Analysis-Nov10/2020-Tuesday

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 (ZCH21)/NEW LIMIT $0.25/BU-ENDING STOCKS/(LESS CHINA)-2020/21-DOWN 11.63MMT
TRENDS: PRICE UP-OPEN INTEREST UP-VOLUME FLAT-LONG TERM RANGE (302-473)
TRADING: UP-NET BUYING-CLOSE UP-MET RESISTANCE@TREND/(MID RANGE)-MORE MOMENTUM- 
TARGETS: (402 (423-442) 464)/NET COMMITMENTS-USERS LESS SHORT/FUNDS LESS LONG

SOYS (ZSF21). LIMIT $0.60/BU-WORLD ENDING STOCKS/(LESS CHINA)-2020/21-DOWN 3.37MMT 
TRENDS: PRICE UP/(SHARP)-OPEN INTEREST@LOW-VOLUME UP-LONG TERM RANGE(791-1112).
TRADING: UP-BUYING-CLOSE UP-TESTED TREND/1154-MORE MOMENTUM-BULLISH. 
TARGETS: (1088 (1120-1154) 1188)/NET COMMITMENTS: USERS LESS SHORT/FUNDS LESS LONG.

WHEAT (ZWZ20): LIMIT $0.40/BU WORLD ENDING STOCKS/(LESS CHINA)-2020/21-DOWN 0.50MMT 
TRENDS: PRICE DOWN/(LESS)-OPEN INTEREST LOWER-VOLUME UP-LONG TERM RANGE (387-616). 
TRADING: UP-NET BUYING-CLOSE UP-TESTED TREND-MET RESISTANCE@613-MORE MOMENTUM.  
TARGETS: (638 (613-588) 564)/NET COMMITMENTS: USERS LESS SHORT/FUNDS LESS LONG 

DOLLAR (D6Z20): DAY LIMIT $4.00                   
TRENDS: PRICE UP(MODERATE)-OPEN INTEREST UP-VOLUME FLAT-LONG TERM RANGE-(8295-6809)
TRADING: FLAT-MOVE UP-NET SELLNG-CLOSE DOWN-RESISTANCE@TREND/7697-LESS MOMENTUM.

TARGETS: (7697 (7609-7522) 7435)/COMMITMENTS:USERS LESS LONG/FUNDS FLAT SHORT

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