Wednesday, March 23, 2016

Farm Commodity Settlements/CME, MARCH 23/2016 WEDNESDAY
MARKETS: PRICE SUPPLY/DEMAND DURING PREVAILING NEED DURING TRADING
TRENDS: LINES THROUGH HIGHER LOWS (UPWARD),  LOWER HIGHS (DOWNWARD)
TRADING: DAILY MOVEMENT RELATIVE TO VOLATILITY TRENDS AND TARGETS
TARGETS: PROJECTED:MEASURED PRICE OBJECTIVES OF TRADING, LENGTH OF MOVE
CORN: 30 CENT DAILY LIMIT                                           
TRENDS: UP/LESS-2ND REVISED+OPEN INTEREST DOWN/MORE+LOW VOLUME+W/STOCKS DOWN
TRADING: DOWN+VOLATILITY UP+BUYING+BELOW TREND/371+TESTED/CLOSED ABOVE 366  
TARGETS: 348  358  (366-371)  383  395      RESISTANCE @ 371 RELATIVELY LOW FOR A MINOR MOVE      
POSITIONS: USER/LONG-SOLD NET SHORT,  FUND/SHORT-COVERED NET SHORT = LESS VOLATILE
SOYBEANS: 70 CENT DAILY LIMIT
TRENDS: UP/LESS-2ND REVISED+OPEN INTEREST-UP/MORE+MODERATE VOLUME+W/STOCKS-DOWN 
TRADING: FLAT VOLATILITY DOWN+NET SELLING+ABOVE TREND+RESISTANCE BELOW 918  
TARGETS: 852  871  885  (896-918)  941 PREMIUM MARKET  LOWER CLOSE  
POSITIONS: USER/LONG-SOLD NET SHORT, FUND/NOW LONG-BOUGHT NET LONG = LESS VOLATILE
WHEAT: 40 CENT DAILY LIMIT                                                       
TRENDS: UP/LESS-1ST REVISED+OPEN INTEREST UP+LOW VOLUME+WORLD STOCKS UP    
TRADING: DOWN+VOLATILITY DOWN+SELLING+ABOVE TREND+TESTED/CLOSED BELOW 468   
TARGETS: (442 -468)  488  503  533  562    PREMIUM MARKET  LOWER HIGH  LOWER CLOSE     
POSITIONS: USER/LONG-SOLD NET SHORT, FUND/SHORT-COVERED NET SHORT = LESS VOLATILE
CANADIAN DOLLAR/USD: 4.00 DOLLAR DAILY LIMIT-   
TRENDS: DOWN/LESS+3RD REVISED+ OPEN INTEREST DOWN/LESS+LOW VOLUME
TRADING: DOWN+VOLATILITY UP+SELLING+TESTED/CLOSED BELOW SUPPORT @ PREVIOUS HIGH       
TARGETS:  (7780-7477)  7356  7320  7250  7073  6932  6720   LOWER HIGH  LOWER CLOSE
POSITIONS:: USER/LONG-SOLD NET SHORT, FUND/SHORT-COVERED NET SHORT = LESS VOLATILE 
HEATING OIL (ULSD): 25 CENT DAILY LIMIT
TRENDS: PRICE UP/LESS-1ST REVISED+OPEN INTEREST UP/MORE+HIGH VOLUME
TRADING: DOWN+VOLATILITY UP+SELLING+ABOVE TREND+CLOSED BELOW RESISTANCE@126  
TARGETS: 86  103  (116-126)  145  165   PREMIUM MARKET  LOWER HIGH  LOWER CLOSE OVERBOUGHT
POSITIONS:USER/NOW SHORT-SOLD NET LONG, FUND/SHORT COVERED NET SHORT = LESS VOLATILE
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