Tuesday, October 20, 2020

Major Grains+CADUSD-Trends.Trading.Targets-Oct20/2020-Tues

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)-2020/21-DOWN 6.2MMT
TRENDS: PRICE UP-OPEN INTEREST UP-VOLUME FLAT-RANGE LONG TERM RANGE (302-473)
TRADING: UP-MOVE UP-FOLLOWING TREND-402 AS SUPPORT-STEADY-BUYING-NEW HIGH.  
TARGETS: (363 (382-402) 422)/NET COMMITMENTS-USERS MORE SHORT/FUNDS MORE LONG

SOYS (ZSF21). LIMIT $0.60/BU-WORLD ENDING STOCKS/(LESS CHINA)-2020/21-DOWN 4.89MMT 
TRENDS: PRICE UP/(SHARP)-OPEN INTEREST UP-VOLUME DOWN-LONG TERM RANGE (791-1079).
TRADING: UP-MET RESISTANCE@TREND-IN MID(1043-1075)-ESCALATED-NET BUYING-CLOSE UP. 
TARGETS: (1011 (1043-1075) 1108)/NET COMMITMENTS: USERS MORE SHORT/FUNDS FLAT LONG.

WHEAT (ZWZ20): LIMIT $0.40/BU WORLD ENDING STOCKS/(LESS CHINA)-2020/21-UP 1.58MMT 
TRENDS: PRICE UP/(SHARP)-OPEN INTEREST UP-VOLUME FLAT-LONG TERM RANGE (387-616). 
TRADING: UP-MOVE UP-OFF TREND-TESTED RESISTANCE@635-STEADY-OFFSET BUYING-CLOSE UP.  
TARGETS: (585 (609-635) 660)/NET COMMITMENTS: USERS MORE SHORT/FUNDS MORE LONG

DOLLAR (D6Z20): DAY LIMIT $4.00                    
TRENDS: PRICE DOWN-OPEN INTEREST LOWER-VOLUME FLAT-LONG TERM RANGE-(8295-6809)
TRADING:UP-MOVE UP-MET RESISTANCE/CLOSED@TREND-SUPPORT@7579-ESCALATED-BUYING.
TARGETS: (7493 (7579-7666) 7754)/COMMITMENTS:USERS LESS LONG/FUNDS LESS SHORT

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