Wednesday, December 10, 2014

COMMODITY SETTLEMENTS-CME DEC 10/2014 WEDNESDAY
Markets-price supply/demand during relative strength trading
Trends-major (long term), down-lower highs, up-higher lows
Trading-(range)+direction/momentum+activity+prevailing strength
Targets-projected length of move
CORN- 25 cent daily limit
Net positions: commercials-less short/non commercials-less long
Trends: price-up, open interest-down, volume-medium, supply-up(latest)
Trading: FLAT/IN OFFSET-LACKS FORCE TO BREAK OUT UP THROUGH RESISTANCE@388-3RD TRY 
TARGETS: 371-388-423-452                                           =LESS BULLISH                               
SOYBEANS- 70 cent daily limit
Net positions: commercials-more long, non-commercials-less long
Trends: PRICE-DOWN, OPEN INTEREST UP, VOLUME-HIGH, SUPPLY-DOWN(LATEST)
Trading: DOWN/ NET SELLING-MORE FORCE-LOWER HIGH-RESISTANCE@TREND PREVAILED
Targets: 1059-1014-985-959-917-883                   =BEARISH
WHEAT- 35 cent daily limit
Net positions: commercials-less long, non commercials-less short
Trends: price-up, open interest-up, volume-moderate, supply-up(latest)
Trading: DOWN/NET SELLING-LESS FORCE+LOWER HIGH+THROUGH/CLOSED BELOW TREND   
Targets: 545-571-622-673                                   =LESS BULLISH
CANADIAN DOLLAR- no daily limit
NET POSITIONS: COMMERCIALS-MORE LONG, NON COMMERCIALS-MORE SHORT
Trends: price/down, open interest-flat, volume-high
Trading: FLAT-/SELLING+LESS FLORCE+TWO FLAT NEW LOWS MAY BE A BOTTOM FOR MOVE
Targets: 9076-9033-8965-8820-8678                    =LESS BEARISH
HEATING OIL- 25 cent daily limit, futures@discount jan/15-APR/15
Net positions: commercials-more long, non commercials-more short
Trends: price-down/steep, open interest-down, volume-high
Trading: down/net selling+more force+nest projected support@190
Targets: 272-263-249-220-190                             =BEARISH
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