Wednesday, May 03, 2023

major grains-cadusd-trends-traded-targets-may03/2023-wed.

MARKETS: PRICE SUPPLY/DEMAND-DURING MOMENTUM OF TRADING
TRENDS: (UP)-DISTINCT HIGHER LOWS-(DOWN)-DISTINCT LOWER HIGHS
TRADED: MOVE-ACTIVITY-TRENDLINE-TARGET-MOMENTUM
TARGETS: PROJECTED PRICE POINTS OF RESISTANCE/SUPPORT.

CORN (ZCN23/JUL: WORLD ENDING STOCKS-22/23-DOWN 11.06MMT .
TRENDS: price-down open interest-up volume-up
TRADED: FLAT-TESTED/CLOSE UP ABOVE TREND-MID(599-575)-GAINED MOMENTUM
.
TARGETS: 624(599-575)551-COMMERCIALS LESS SHORT-NON COMMERCIALS LESS LONG

SOYS (ZSN23)JUL: WORLD ENDING STOCKS-22/23-UP 0.56MMT 
TRENDS: PRICE-UP OPEN INTEREST-DOWN VOLUME-UP
TRADED: DOWN/BUYING-TESTED/CLOSE UP ABOVE TREND-BELOW 1420-LOST MOMENTUM.
TARGETS:(1349(1386-1420)1458-COMMERCIALS LESS SHORT-NON COMMS LESS LONG.

WHEAT (ZWN23)JUL: WORLD ENDING STOCKS-22/23-DOWN 2.04MMT.
TRENDS: PRICE-UP(STEEP)-OPEN INTEREST-UP-VOLUME-UP (1363.4-386.4).  
traded: reversal up-buying-on trend-resistance mid(628-653)-gained momentum.    
TARGETS: 604(628-653)679-COMMERCIALS MORE LONG-NON COMMERCIALS MORE SHORT

DOLLAR (D6M23)/JUN                   
TRENDS: PRICE DOWN(LOWER HIGH)-OPEN INTEREST-UP VOLUME-DOWN
TRADED: DOWN/FLAT-BELOW TREND-RESISTANCE MID(7406-7320)-CLOSE UP-LOST MOMENTUM.
TARGETS: 7493(7406-7320)7149`-COMMERCIALS-LESS LONG  NON COMMERCIALS-LESS SHORT.

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