Tuesday, July 26, 2011

Farm Commodities-Trends+Trading+Targets

SETTLEMENTS-CME-2014 SEPTEMBER 15 MONDAY
market-prices supply/demand with relative strength trading
trend: line joining highs with highs, lows with lows=direction 
trading-trend+action+prevailing strengths
targets-projected length of move
Corn- 35 cent daily trading limit
net open: end-user-more long, investor-less long, other-more short
trend: price-down, open interest-up, supply-estimated up more
trading-flat+net buying, no momentum, @major support
targets: 406-377-328-290                         =less bearish
Wheat- 45 cent daily trading limit
net open: end-user-more long, investor-more short, other-more short
trend: price-down, open interest-flat, supply-estimated up
trading-down, trade off, lost momentum, @497 support
targets, 570-546-519-497                         =bearish
Soybeans- 1.00 dollar daily trading limit
net open: end-user-more long, investor-more short, other-same short
trend: price-down, open interest-up, supply-estimated up more
trading-flat, net buying, gained momentum, testing 976 support
targets, 1032-1011-976-948                     =less bearish             
Cdlr- no daily trading limit
net open: end-user-less short, investor-more long, other-more short
trend: price-down, open interest-up
trading-flat, buying, lost momentum, confirmed thru 9040 support
targets 9080-9040-8974-8922                   =bearish
Heating oil- 25 cent daily trading limit
net open: end-user less short, investor-more long, other-less long        
trend: price down+open interest-up to down
trading-down, offset selling, lost momentum, testing trend
targets 288-280-267-257                             =bearish
                                       
                                                 


                                                                                                                                                                                                                                                                                                                          

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