Monday, November 10, 2014

COMMODITY SETTLEMENTS-CME NOV 10/2014

Markets-price supply/demand during relative strength trading
Trends-long term-down-lower highs, up-higher lows
Trading Range-movement+momentum+prevailing strength
Targets-projected length of move

CORN- 25 cent daily trading limit, premium to back months
Commitments: users-sold short, funds-short covered+bought long equally
Trends: higher lows, lower open interest, high volume, supply-up
Trading range: flat+offset selling+resistance@371-pierced support 
Targets: 371-388-423-452                                   =LESS BULLISH
SOYBEANS- NEW/70 cent daily trading limit, premium to back months
Commitments: users-liquidated long, funds-short covered
Trends: higher lows, flat open interest, moderate-volume, supply-up
Trading range: up+net selling+resistance@last high-pierced support @trend
Targets: 993-1023-1082-1142                              =LESS BULLISH
WHEAT- NEW/35 cent daily trading limit, premium to back months
Commitments: users-sold short, funds-short covered
Trends: lower highs, flat open interest, high volume, supply-up
Trading Range: flat+offset selling+support@514-pierced resistance    
Targets: 514-506-494-483                                   =LESS BEARISH
CANADIAN DOLLAR- no daily trading limit
Commitments: institutions-bought long, investors-bought long
Trends: lower highs, flat open interest, low-volume
Trading Range: up+net selling-higher low+pierced resistance@8820
Targets: 9076-9033-8962-8820-8678                    =LESS BEARISH
HEATING OIL- 25 cent daily trading limit, mostly flat to back months
Commitments: commercials-sold short, investors-sold short
Trends: lower highs, higher open interest, moderate volume
Trading Range: up+net selling-higher low-strong resistance@252+trend
Targets: 279-269-252-239                                    =BULLISH SIGNAL
COMMENTS WELCOME
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