Friday, November 18, 2016
FARM COMMODITY SETTLEMENTS N0VEMBER 18/2016
MARKETS: PRICE SUPPLY/DEMAND USING RELATIVE STRENGTH OF TRADING
TREND: DIRECTION-MONTHLY- LINE JOINING HIGHER LOWS (UP), LOWER HIGHS (DOWN)
TARGETS: DISTANCE (PROJECTED) MEASURED PRICE OBJECTIVES OF TRADING
TRADING: MOMENTUM, MOVEMENT, RELATIVE STRENGTH OF TREND, TARGETS
CORN/CH17(NEW): 25 CENT DAILY LIMIT CLOSED ABOVE CONVERGING DOWN-LINE
TREND: UP PREMIUM MARKET MAR17/JUL18 NET WORLD STOCKS DOWN
TARGETS: (PROJECTED) (NEW) 325-340-351-360 NET COMMITMENTS-DECREASED
TRADING: CONSTANT UP/NET BUYING-TESTED/CLOSED ABOVE TREND/RESISTANCE
SOYBEANS/SF17: 65 CENT DAILY LIMIT TRADNG IN AREA OF CONVERGENCE
TREND: UP-3RD REVISED LOWER. PREMIUM MARKET JAN17/JUL17 STOCKS-DOWN
TARGETS: (PROJECTED) 934-975-1006-1030 NET COMMITMENTS-DECREASED
TRADING: DECELERATED DOWN/NET BUYING-MET SUPPORT AT TREND-ABOVE 975
WHEAT/WH17(NEW): 35 CENT DAILY LIMIT TREND IS BASIS MAR17 FUTURE
TREND: UP PREMIUM MARKET MAR17/DEC19 NET WORLD STOCKS-UP
TARGETS: (PROJECTED) (NEW) 409-425-437-446 NET COMMITMENTS-CONSTANT
TRADING: ACCELERATED UP/NET BUYING-BELOW TREND/425 AS RESISTANCE
DOLLAR CAD/USD: CDZ/16 4.00 DAILY LIIMIT. FLAT CLOSE/NO BREAKOUT BELOW 7420
TREND: DOWN PREMIUM MARKET DEC16/SEP 21
TARGETS: (PROJECTED) 7628-7558-7503-7420 NET COMMITMENTS DECREASED
TRADING: DECELERATED DOWN/NET BUYING-MET RESISTANCE BELOW TREND/7420
HEATING OIL (ULSD)HOF/17(NEW) 25 CENT DAILY LIMIT MET RESISTANCE@PREVIOUS HIGHS
TARGETS: (PROJECTED) 152-150-145-136, NET COMMITMENTS DECREASED
TRADING: DECELERATED FLAT/OFFSET SELLING-MET TREND/RESISTANCE ALSO 144/SUPPORT
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