Monday, October 05, 2020

Major Grains+CADUSD-Trends.Trading.Targets-Oct5/2020-Mon

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 up-RANGE LONG TERM (302-473)
TRADING: FLAT-OFF TREND-TESTED RESISTANCE/CLOSED FLAT@380-DEESCALATED-OFFSET.  
TARGETS: (344 (362-380) 398)/NET COMMITMENTS-USERS MORE SHORT/FUNDS MORE LONG

SOYS (ZSX20). LIMIT $0.60/BU-WORLD ENDING STOCKS/LESS CHINA-2019/20=(26.98)MMT 
TRENDS: PRICE DOWN-OPEN INTEREST UP(LESS)-VOLUME DOWN-LONG TERM (1067-791).
TRADING: FLAT-BELOW TREND-SUPPORT@1014-DEESCALATED-NET BUYING-CLOSE-UP. 
TARGETS: (1046 (1014-982) 949)/NET COMMITMENTS: USERS MORE SHORT/FUNDS MORE LONG.

WHEAT (ZWZ20): LIMIT $0.40/BU WORLD END STOCKS/LESS CHINA-19/20=+1.42MMT 
TRENDS: PRICE UP(MORE)-OPEN INTEREST UP(DRIFT)-VOLUME FLAT-LONG TERM (387-593). 
TRADING:UP-ABOVE TREND-TESTED/CLOSED UP ABOVE 561-ESCALATED-NET BUYING.  
TARGETS: (541 (561-581) 602)/NET COMMITMENTS: USERS FLAT SHORT/FUNDS FLAT LONG

DOLLAR (D6Z20): DAY LIMIT $4.00                    
TRENDS: PRICE DOWN-OPEN INTEREST UP(DRIFT)-VOLUME DOWN-LONG TERM RANGE-(8295-6809)
TRADING: UP-MOVE UP-ON/UPSIDE TREND-BELOW 7563-STEADY-BUYING-CLOSE UP.
TARGETS: (7398 (7480-7563) 7646)/COMMITMENTS:USERS MORE LONG/FUNDS FLAT SHORT

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