Wednesday, February 22, 2017

FARM COMMODITY TREND ANALYSIS FEB/22/2017 WED

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  STRENGTH  RELATIVE LOCATION TO TARGETS/CHANNEL 

CORN (MAY/17): 25 CENT DAILY LIMIT FREE WORLD STOCKS/UP O-I/DOWN  
TREND CHANNEL:MONTHLY UP/GRADUAL/NARROW  HIGHER LOWS  PREMIUMS FORWARD
TRADING: DAILY UP UPSIDE MID CHANNEL  (DOWNSIDE RESISTANCE @381)

TARGETS: UP  (363  367  372  (377  381)  NET COMMITMENTS: HEDGERS MORE SHORT 

SOYS (MAY/17): 65 CENT LIMIT FREE WORLD STOCKS DOWN OPEN INTEREST/DOWN
TREND CHANNEL: MONTHLY UP/MODERATE/WIDE  YEARLY-HIGHER LOWS
TRADING: DAILY DOWN INSIDE LOWER CHANNEL  (ABOVE SUPPORT@1030)
 
TARGETS: UP, (1030 (1038  1049  1062)  NET COMMITMENTS: HEDGERS MORE SHORT 

WHEAT (MAY/17): 35 CENT DAILY LIMIT FREE WORLD STOCKS/UP O-I/DOWN     
TREND CHANNEL: MONTHLY UP/GRADUAL/NARROW  HIGHER LOWS  PREMIUMS FORWARD
TRADING: DAILY UP UPSIDE CHANNEL TOP  (ONSIDE/CLOSED ABOVE 454)              
TARGETS: UP, (443  (454)  462  471  NET COMMITMENTS: HEDGERS LESS LONG 

DOLLAR CAD/USD: (MAR/17)  4.00 DAILY LIIMIT. OPEN INTEREST/LOWER RANGE
TREND CHANNEL: MONTHLY DOWN/GRADUAL WIDE RANGE.....(NEW)
TRADING: DAILY DOWN INSIDE UPPER CHANNEL  (UPSIDE SUPPORT@7558)       
TARGETS: DOWN, (7717 7669 7628 7558) NET COMMITMENTS: HEDGERS MORE SHORT   

HEATING OIL ULSD: (APR/17)  25 CENT DAILY LIMIT,   OPEN INTEREST @ TOP
TREND CHANNEL: MONTHLY UP,/GRADUAL/WIDE  YEARLY HIGHER LOWS  PREMIUMS
TRADING: DAILY DOWN ONSIDE MID CHANNEL  (TESTED/CLOSED BELOW 164)
 
TARGETS: (159  164  169)  176  NET COMMITMENTS: HEDGERS: LESS SHORT
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