Friday, December 05, 2014

COMMODITY SETTLEMENTS-CME DEC 5/2014 FRIDAY
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/less, open interest-down, volume-low, supply-up
Trading: up/SHORT COVERING SUFFICIENT TO PENETRATE RESISTANCE@388
Targets: 371-388-423-452                                   =WEAK BULLISH  
SOYBEANS- 70 cent daily limit
Net positions: commercials-more long, non-commercials-less long
Trends: PRICE-DOWN, OPEN INTEREST-DOWN, VOLUME-MODERATE, SUPPLY-UP
Trading: UP/SHORT COVERING-VOLUME+MOMENTUM-MEETING STRONG RESISTANCE- 
Targets: 985-959-917-853                                   =WEAK BULLISH
WHEAT- 35 cent daily limit
Net positions: commercials-less long, non commercials-less short
Trends: price-up/more, open interest-flat, volume-low, supply-up
Trading: up/net buying+higher lows following trend as support    
Targets: 545-571-622-673                                   =BULLISH
CANADIAN DOLLAR- no daily limit
NET POSITIONS: COMMERCIALS-MORE LONG, NON COMMERCIALS-MORE SHORT
Trends: price/down, open interest-up, volume-moderate
Trading: DOWN/TO LEVEL OF OLD LOWS AS SUPPORT-ON SHORT SELLING
Targets: 9076-9033-8965-8820-8678                    =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, open interest-up, volume-up
Trading: down/continuing penetration of trend, short selling
Targets: 272-263-249-220-190                             =BEARISH
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