Tuesday, January 27, 2015

FARM COMMODITY SETTLEMENTS-CME JAN 27/2015 TUESDAY
Markets-price supply/demand during relative strength trading
Trends-price channel, down-lower highs, up-higher lows
Trading-move in channel/momentum+activity+prevailing strength
Targets-projected length of move
CORN- 25 cent daily limit
Net positions: commercials-less short/non commercials-less long
Trends: channel-down/original+open interest-up+supply-up/less
Trading: LOWER/NARROW LENGTH OF RANGE+OFFSET+AT SUPPORT MID CHANNEL 
TARGETS: 522-439-406-377-328-290                                       =BEARISH                               
SOYBEANS- 70 cent daily limit
Net positions: commercials-more long/non-commercials-now short
Trends: CHANNEL-UP/THIRD REVISED+OPEN INTEREST-UP+SUPPLY--UP/MORE
Trading: HIGHER/NARROW LENGTH OF RANGE+SELLING+AT SUPPORT AT LOW OF CHANNEL
Targets: 1087-1014-985-959-917-883                     =LESS BULLISH
WHEAT- 35 cent daily limit
Net positions: commercials-less short/non commercials-now short
Trends: channel-down/original+open interest-up+supply-up/more
Trading: LOWER/NARROW LENGTH OF RANGE+OFFSET+AT RESISTANCE AT HIGH OF CHANNEL
Targets: 677-606-598-558-553-511-478                  =LESS BEARISH
CANADIAN DOLLAR- no daily limit
NET POSITIONS: COMMERCIALS-MLRE LONG/NON COMMERCIALS-MORE SHORT
Trends: channel-down/third revised+open interest-up+low volume
Trading: HIGHER/MODERATE RANGE+BUYING+VIRTUAL REVERSAL FROM SUPPORT AT 8030 
Targets: 8931-8545-8391-8256-8030-7850               =LESS BEARISH
HEATING OIL- 25 cent daily limit
Net positions: commercials-more long/non commercials-more short
Trends: channel-down/third revised+open interest-up
Trading: FLAT/SAME LENGTH OF RANGE+NET BUYING AT 164+RESISTANCE AT HIGH OF CHANNEL
Targets: 307-250-227-207-174-164                         =LESS BEARISH
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