Tuesday, January 24, 2017


FARM COMMODITY TREND ANALYSIS JANUARY/24/2017 TUESDAY

MARKETS: PRICE SUPPLY/DEMAND USING RELATIVE ACTIVITY/STRENGTH OF TRADING
TREND CHANNEL: PARALLEL LINES JOINING HIGHER LOWS+TOPS  LOWER HIGHS+BOTTOMS 
TARGETS: (PROJECTED) RESISTANCE/SUPPORT LEVELS  OBJECTIVES
  
TRADING: DIRECTION  ACTIVITY  STRENGTH  RELATIVE LOCATION TO CHANNEL/TARGETS    

CORN/CH17: 25 CENT DAILY LIMIT  FREE WORLD STOCKS/DOWN  
TREND CHANNEL: UP/GRADUAL  NARROW RANGE MONTHLY  PREMIUM MARKET FORWARD-DEC/19
TRADING: OUTSIDE DAY IN MOVE  LOWER CLOSE  SUPPORT@363/ONSIDE MID CHANNEL     

TARGETS: UP  360  (363-367-372)  377  COMMITMENTS OF TRADERS: NET INCREASE-3RD WEEK 

SOYBEANS/SH17: 65 CENT DAILY LIMIT  FREE WORLD STOCKS/DOWN  
TREND CHANNEL: UP/NEW  WIDE RANGE  MONTHLY  PREMIUM MARKET FORWARD-AUG/17
TRADING: DOWN  4TH LOWER HIGH IN MOVE SUPPORT@1049/UPSIDE MID CHANNEL             
TARGETS: DOWN, 1030  (1049-1062)  1077  COMMITMENTS OF TRADERS: NET INCREASE-WEEK/1 

WHEAT/WH17: 35 CENT DAILY LIMIT  FREE WORLD STOCKS/UP   
TREND CHANNEL: UP/GRADUAL  NARROW RANGE MONTHLY  PREMIUM MARKET FORWARD-JUL/19
TRADING: OUTSIDE DAY IN MOVE  LOWER CLOSE  MET SUPPORT@429/UPSIDE MID CHANNEL            
TARGETS: UP,  (424-429)  435  443  COMMITMENTS OF TRADERS: NET FLAT-1ST WEEK 

DOLLAR CAD/USD: CDH/17  4.00 DAILY LIIMIT.      
TREND CHANNEL: DOWN/MODERATE  WIDE RANGE MONTHLY  PREMIUM MARKET FORWARD-DEC/21 
TRADING: UP  2ND HIGHER LOW IN MOVE  MET SUPPORT@7521/UPSIDE CHANNEL TOP       
TARGETS: DOWN, (7656-7584-7556-7521)  COMMITMENTS OF TRADERS: NET DECREASE-2ND WEEK   

HEATING OIL ULSD  HOH/17  25 CENT DAILY LIMIT,   
TREND CHANNEL: UP,/GRADUAL  WIDE RANGE MONTHLY   PREMIUM MARKET FORWARD-JAN21

TRADING: 3RD HIGHER LOW IN MOVE  MET SUPPORT@164/CLOSED HIGHER INSIDE UPPER CHANNEL 
TARGETS: UP, 151  (164)  169  177  COMMITMENTS OF TRADERS: NET INCREASE-1ST WEEK 
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