Friday, October 10, 2014

SETTLEMENTS-CME 2014 OCTOBER 10 FRIDAY

Markets-price supply/demand during relative strength trading
Trends-long term=direction=down-lower highs, up-higher lows
Trading-daily trend+prevailing strengths+activity+momentum
Targets-projected length of move
CORN- 35 cent daily trading limit, premium to back months
NET positions: user-less long, investor-less long, other-less short
trends: prices-DOWN/LESS, open interest-DOWN, supply-UP/MORE
traded: DOWN-day/1, support@328, net selling, more momentum
targets: 406-377-342-328-290                           =BEARISH
SOYBEANS- 1 dollar daily trading limit, premium to back months
NET positions: user-less long, investor-less short, other-less short
trends: prices-DOWN, open interest-UP, supply-UP/MORE
traded: DOWN-day/3, resistance held, net selling, more momentum
targets: 1019-1002-972-949-914                        =BEARISH
WHEAT- 45 cent daily trading limit,premium to back months
NET positions: user-less long, investor-less short, other-short
trends: prices-DOWN/LESS, open interest-DOWN, supply-UP/LESS
traded: DOWN-day/1, support@497, net buying, more momentum
targets: 547-497-415-349                                   =LESS BEARISH
CANADIAN DOLLAR- no daily trading limit
NET positions: user-more long, investor-more short, other: more short
trends: prices-DOWN/LESS, open interest-UP
traded: DOWN-day/1, support@8902-test, net selling, less momentum
targets: 9076-9030-8959-8902-8820                    =BEARISH
HEATING OIL- 25 cent daily trading limit, mostly flat to back months
NET positions: user-more long, investor-more long. other-more short
trends: prices-DOWN/MORE, open interest-DOWN
traded: DOWN-DAY/8, support@257, net buying, more momentum
targets: 288-280-267-257                                    =LESS BEARISH
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