Tuesday, July 26, 2011

Farm Commodities-Trends+Trading+Targets

SETTLEMENTS-CME-2014 SEPTEMBER 2 TUESDAY
market-prices supply/demand with relative strength trading
trend: line joining highs with highs, lows with lows=direction 
trading-activity+volatility+movement+prevalent strength 
targets-projected length of move
Corn- 35 cent daily trading limit
net position report, hedgers-covered short, funds-sold short
trends: prices-flat, open interest-lower/up, supply-estimated higher
trading-offset selling, narrow range, plateauing along 365 support
targets: 444-424-391-365            momentum=neutral
Wheat- 45 cent daily trading limit
net position report, hedgers-covered short, funds-covered short
trends: prices-flat, open interest-lower, supply-estimated higher
trading-net selling, down-from resistance@570 to support@546
targets, 570-546-519-497            momentum=less bullish
Soybeans- 1.00 dollar daily trading limit
net position report, hedgers-covered short, funds-sold short
trends: prices-lower, open interest-higher, supply-estimated higher
trading-net buying, narrow, @1033 support on way to price trend
targets, 1285-1201-1134-1033     momentum=less bearish             
Cdlr- no daily trading limit
net position report, hedgers-covered short, funds-sold short
trends: prices-higher, open interest-lower
trading-selling, wide, to support@9140, working toward next low
targets 9244-9205-9140-9088     momentum=less bullish
Heating oil- 25 cent daily trading limit
net position report, hedgers-sold long, funds-bought long        
trends: prices lower+open interest-lower@new high
trading-selling, wide, down, price trend to continue-resistance held
targets 308-301-293-282              momentum=bearish
                                       
                                                 


                                                                                                                                                                                                                                                                                                                          

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