Wednesday, September 09, 2020

Major Grains+CADUSD-Trends.Trading.Targets-Sep9/2020-Wed

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 (473-302)
TRADING: MOVE FLAT-OFF TREND-ON SUPPORT@358-DEESCALATED-SELLING-CLOSE DOWN.  
TARGETS: (322 (340-358) 376)/NET COMMITMENTS-USERS NOW SHORT/FUNDS NOW LONG

SOYS (ZSX20). LIMIT $0.65/BU-WORLD ENDING STOCKS/LESS CHINA-2019/20=(26.98)MMT 
TRENDS: PRICE UP-OPEN INTEREST-DRIFT/UP-VOLUME FLAT-LONG TERM (1067-791).
TRADING: UP-OFF TREND-MAJOR RESISTANCE MID(964-993)-DEESCALATED-BUYING-CLOSE UP. 
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 DOWN(/STEEP)-OPEN INTEREST FLAT-VOLUME DOWN-LONG TERM (593-387). 
TRADING: MOVE DOWN-ON TREND-SUPPORT@541 HELD-STEADY-SELLING-CLOSE FLAT.  
TARGETS: (520 (541-561) 581)/NET COMMITMENTS: USERS MORE SHORT/FUNDS MORE LONG

DOLLAR (D6U20): DAY LIMIT $4.00                    
TRENDS: PRICE UP/MAJOR-OPEN INTEREST DOWN/(STEEP)-VOLUME UP-LONG TERM-(8295-6809)
TRADING: DOWN-BELOW TREND-RESTED SUPPORT@7563-DEESCALATED-BUYING-CLOSE UP.
TARGETS: (7480 (7563-7646) 7729)/COMMITMENTS:USERS LESS LONG/FUNDS LESS SHORT

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