Thursday, January 29, 2015

FARM COMMODITY SETTLEMENTS-CME JAN 29/2015 THURSDAY
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 RANGE LENGTH+OFFSET+TESTING SUPPORT AT CHANNEL LOW 
TARGETS: 522-439-406-377-328-290                                       =BEARISH                               
SOYBEANS- 70 cent daily limit
Net positions: commercials-more long/non-commercials-now short
Trends: CHANNEL-D0WN/SECOND REVISED+OPEN INTEREST-UP+SUPPLY--UP/MORE
Trading: FLAT/NARROW RANGE LENGTH+OFFSET SELLING+TEST/2ND REVISED CHANNEL HIGH
Targets: 1087-1014-985-959-917-883                     =LESS BEARISH
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 RANGE LENGTH+OFFSET+ALONG SUPPORT UPSIDE CHANNEL HIGH
Targets: 677-606-598-558-553-511-478                  =BEARISH
CANADIAN DOLLAR- no daily limit
NET POSITIONS: COMMERCIALS-MLRE LONG/NON COMMERCIALS-MORE SHORT
Trends: channel-down/third revised+open interest-down+low volume
Trading: LOWER/WIDER RANGE LENGTH+NET SELLNG+TESTING SUPPORT OF CHANNEL LOW 
Targets: 8931-8545-8391-8256-8030-7850  OVERSOLD=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: DOWN/NARROW RANGE LENGTH+OFFSET SELLING+TEST/RESISTANCE OF CHANNEL HIGH
Targets: 307-250-227-207-174-164                         =BEARISH
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