Thursday, May 23, 2024

major grains-cadusd-trends-traded-targets-may23/2024-thur

MARKETS: PRICE SUPPLY/DEMAND-DURING MOMENTUM OF TRADING
TRENDS: (UP)-DISTINCT HIGHER LOWS-(DOWN)-DISTINCT LOWER HIGHS
TRADED: (MOVE)-TRENDLINE-TRADED-TARGET-MOMENTUM
TARGETS: PROJECTED PRICE POINTS OF RESISTANCE/SUPPORT.

CORN (ZCN24)JUL: WORLD ENDING STOCKS-23/24-UP/12.17MMT.
TREND: (UP) OPEN INTEREST/DOWN VOLUME/DOWN MENTUM/GAIN
TRADED: (UP)-ON TREND-NET BUYING-MET RESISTANCE@465
TARGETS: 424(444-465)487 COMS-LESS LONG/NONCOMS-NOW LONG

SOYS (ZSN24)JUL: WORLD ENDING STOCKS-23/24-UP/11.25MMT
TREND: (UP) OPEN INTEREST/FLAT VOLUME/FLAT MOMENTUM/GAIN
TRADED: (UP)-ON TREND-NET SELLING-RESISTANCE MID(RANGE)
TARGETS: 1206(1241-1291)1311 C'MS-MORE LONG/NC'MS-MORE SHORT

WHEAT (ZWN24)JUL: WORLD ENDING STOCKS-23/24-DOWN/12.62MMT.
TREND: (UP) OPEN INTEREST/UP VOLUME/DOWN MOMENTUM/LOST
TRADED: (DOWN)-ON TREND-NET BUYING-SUPPORT@684
TARGETS: 658(684-718)736 COMS--LESS LONG/NONCOMS-LESS SHORT

CADUSD (D6M23)/JUN:
TREND: (UP) OPEN INTEREST/UP VOLUME/UP MOMENTUM/GAIN
TRADED: (DOWN)-ON TREND-NET SELLING-SUPPORT@LOWS/7257
TARGETS: 7171(7257-7342)7429 C'MS-MORE LONG/NC'MS-MORE SHORT

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