Thursday, September 03, 2020

Major Grains+CADUSD-Trends.Trading.Targets-Sep3/2020-Thur

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 (ZCZ20). LIMIT $0.25/BU-WORLD ENDING STOCKS/LESS CHINA-2019/20=+2.42MMT
TRENDS: PRICE UP-OPEN INTEREST UP-VOLUME DOWN-LONG TERM RANGE (473-302)
TRADING: DOWN-ON/DOWNSIDE TREND-RESISTANCE@358 PREVAILS-ESCALATED-SELLING.  
TARGETS: (322 (340-358) 376)/NET COMMITMENTS-USERS LESS LONG/FUNDS LESS SHORT

SOYS (ZSX20). LIMIT $0.65/BU-WORLD ENDING STOCKS/LESS CHINA-2019/20=(26.98)MMT 
TRENDS: PRICE UP/(STEEP)-OPEN INTEREST-UP-VOLUME DOWN-LONG TERM (1067-791).
TRADING: UP-PARALLEL TREND-RETESTING RESISTANCE@964-DEESCALATED-NET BUYING. 
TARGETS: (907 (936-964) 993)/NET COMMITMENTS: USERS MORE SHORT/FUNDS MORE LONG.

WHEAT (ZWZ20): LIMIT $0.35/BU WORLD END STOCKS/LESS CHINA-19/20=+1.42MMT 
TRENDS: PRICE UP-OPEN INTEREST UP-VOLUME DOWN-LONG TERM (593-387). 
TRADING: MOVE DOWN-ON/UPSIDE TREND-RESISTANCE@561 PREVAILS-STEADY-NET SELLING.  
TARGETS: (520 (541-561) 581)/NET COMMITMENTS: USERS NOW SHORT/FUNDS MORE LONG

DOLLAR (D6U20): DAY LIMIT $4.00                    
TRENDS: PRICE UP/MAJOR-OPEN INTEREST LOWER-VOLUME DOWN-LONG TERM-(8295-6809)
TRADING: DOWN-TESTED TREND/7646-ESCALATED-NET SELLING-CLOSE DOWN-BELOW HIGH
TARGETS: (7480 (7563-7646) 7729)/COMMITMENTS:USERS LESS LONG/FUNDS LESS SHORT

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