Thursday, October 27, 2016
FARM COMMODITY SETTLEMENTS OCTOBER 27/2016
MARKETS: PRICE SUPPLY/DEMAND USING RELATIVE STRENGTH OF TRADING
TREND: MONTHLY- LINE JOINING HIGHER LOWS (UP), LOWER HIGHS (DOWN)
TRADING: SHORT TERM-DIRECTION-RELATIVE STRENGTH OF MOMENTUM
TARGETS: PROJECTED: MEASURED PRICE OBJECTIVES OF MOVE
CORN/CZ16: 25 CENT DAILY LIMIT RESISTANCE@PREVIOUS HIGHS-TESTED
TREND: UP/LESS, TARGETS 326-333-346-356, PREMIUM MARKET 2016/18
TRADING: UP/CONTRACTED-BUYING..DOWNSIDE TREND-TESTED/CLOSED ABOVE 356
POSITIONS: MOMENTUM ACCELERATING-FREE WORLD STOCKS FLAT
SOYBEANS/SF17: 65 CENT DAILY LIMIT RESISTANCE@PREVIOUS HIGHS-TESTED
TREND: UP, TARGETS: 975-1006-1030-1078. PREMIUM MARKET 2016/17
TRADING: UP/CONTRACTED-NET BUYING..UPSIDE TREND-MET RESISTANCE/1030
POSITIONS: MOMENTUM ACCELERATING-FREE WORLD STOCKS UP
WHEAT/WZ16: 35 CENT DAILY LIMIT DAY 3 OF PROJECTED 6 DAY MOVE
TREND: UP/LESS, TARGETS: 387-411-429-443 PREMIUM MARKET 2016/18
TRADING: UP/CONTRACTED-NET BUYING..UPSIDE TREND/411
POSITIONS: MOMENTUM DECELERATING-FREE WORLD STOCKS-FLAT/DOWN
DOLLAR CAD/USD: CDZ/16 4.00 DAILY LIIMIT. 7503 AS RESISTANCE HOLDING
TREND: DOWN/NEW-TARGETS: 7628-7558-7503-7419 PREMIUM MARKET 2016/21
TRADING: DOWN/CONTRACTED-NET SELLING..BELOW TREND/7503
POSITIONS: MOMENTUM CONTINUED FLAT-
HEATING OIL (ULSD)HOZ/16 25 CENT DAILY LIMIT CONSOLIDATION INSIDE 156-159
TREND: UP/LESS TARGETS: 151-156-159-164, PREMIUM MARKET 2016/18
TRADING: UP/NO CHANGE-NET BUYING-BELOW TREND-MET 159/RESISTANCE
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