Tuesday, November 08, 2016
FARM COMMODITY SETTLEMENTS N0VEMBER 08/2016
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 MET RESISTANCE AT PREVIOUS HIGHS
TREND: UP/LESS, TARGETS 326-333-346-356, PREMIUM MARKET 2016/JUL 18
TRADING: UP/ACCELERATION-BUYING-FROM STRONG SUPPORT-ONSIDE TREND
POSITIONS: ACCUMULATION-FREE WORLD STOCKS FLAT
SOYBEANS/SF17: 65 CENT DAILY LIMIT MET RESISTANCE AT 1016
TREND: UP/LESS, TARGETS: 975-998-1006-1016. PREMIUM MARKET 2016/JUL 17
TRADING: UP/ACCELERATION-NET BUYING-ABOVE TREND
POSITIONS: NEUTRAL-FREE WORLD STOCKS UP
WHEAT/WZ16: 35 CENT DAILY LIMIT MET RESISTANCE AT PREVIOUS HIGH
TREND: UP/MORE, TARGETS: 387-411-429-443 PREMIUM MARKET 2016/MAY 18
TRADING: DOWN/ACCELERATION-NET BUYING-ABOVE 411-DOWNSIDE HIGHER TREND
POSITIONS: NEUTRAL-FREE WORLD STOCKS-FLAT/DOWN-
DOLLAR CAD/USD: CDZ/16 4.00 DAILY LIIMIT. TESTED RESISTANCE AT PREVIOUS HIGHS
TREND: DOWN/NEW-TARGETS: 7628-7558-7503-7419 PREMIUM MARKET 2016/SEP 21
TRADING: UP/REPEAT-BUYING-TESTED/CLOSED ABOVE 7503 + TREND RESISTANCE
POSITIONS: NEUTRAL
HEATING OIL (ULSD)HOZ/16 25 CENT DAILY LIMIT MET RESISTANCE AT 144
TREND: UP/LESS TARGETS: 136-144-151-156-159, POSITIONS: LIQUIDATION
TRADING: FLAT/REPEAT-OFFSET BUYING-FORMING A BOTTOM/SUPPORT
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