Tuesday, July 26, 2011

Farm Commodities-Trends+Trading+Targets

SETTLEMENTS-CME-2014 AUGUST 19 TUESDAY
market-prices supply/demand with relative strength trading
trend: line joining highs with highs, lows with lows=direction 
trading-movement+activity+volatility+force 
targets-price projections in direction of trend 
Corn-  
net position/tuesday report, hedgers-sold long, funds-sold short
trends: prices-flat+open interest-lower+estimated supply-higher
traded-lower+in offset+narrowed range+on trend-resistance held
targets: 444-424-(391-365).........momentum=consolidation
Wheat-
net position/tuesday report, hedgers-sold short, funds-covered short
trends: prices-lower+open interest-lower+estimated supply-higher
traded-flat+net buying+widened range+@trend support in 570-519
targets, 570-546-519-497            momentum=consolidation
Soybeans
net position/tuesday report, hedgers-sold short, funds-covered short
trends: prices-lower+open interest-lower+estimated supply-higher
traded-lower+in offset+same+@trend as resistance below 1061
targets, 1170-1142-1097-1061     momentum=bearish             
Cdlr- 
net position/tuesday report, hedgers-covered short, funds-sold long
trends: prices-lower+open interest-flat
traded-lower+full selling+widened range+new move resistance held
targets 9244-9205-9140-9088     momentum=less bullish
Heating oil-
net position/tuesday report, hedgers-sold long, funds-bot long=offset        
trends: prices lower+open interest-higher@new high-correcting
traded-flat+near offset+narrowed range+below trend as resistance
targets 308-301-293-282              momentum=more bearish
                                       
                                                 


                                                                                                                                                                                                                                                                                                                          

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