Wednesday, March 22, 2017


FARM COMMODITY TREND ANALYSIS MAR 22/2017 WEDNESDAY

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 NET WORLD STOCKS/UP            BEARISH
TREND CHANNEL:MONTHLY UP/MORE GRADUAL NARROW RANGE OPEN INTEREST/UP
TRADING: DAILY, DECELERATION DOWN, SELLING, DOWNSIDE/CLOSED BELOW BOTTOM-360 

TARGETS: UP  (351 360 363 372 395)  COMMITMENTS-REPORT: NET LIQUIDATION     

SOYBEANS (MAY/17): 65 CENT LIMIT NET WORLD STOCKS DOWN         NEUTRAL
TREND CHANNEL: MONTHLY DOWN/MODERATE ANGLE/WIDE RANGE OPEN INTEREST/FLAT
TRADING: DAILY, DECELERATION DOWN, BUYING, ABOVE MID LINE, GOOD SUPPORT @ 994 
 
TARGETS: DOWN, (1077 1050 1004 994 987 968)  COMMITMENTS-REPORT: NET LIQUIDATION  

WHEAT (MAY/17): 35 CENT DAILY LIMIT NET WORLD STOCKS-UP          BEARISH
TREND CHANNEL: MONTHLY UP/GRADUAL ANGLE/NARROW RANGE OPEN INTEREST/UP
TRADING: DAILY, DECELERATION DOWN, LOW LOWER CHANNEL, MET SUPPORT @ 422                 
TARGETS: UP, (422 434 457 480)  COMMITMENTS-REPORT: ACCUMULATION   

DOLLAR CAD/USD: (MAR/17)  4.00 DAILY LIIMIT.                                 NEUTRAL
TREND CHANNEL: MONTHLY DOWN/GRADUAL ANGLE/ WIDE RANGE OPEN INTEREST/DOWN
TRADING: DAILY, DECELERATION DOWN, BUYING, UPSIDE MID LINE, 7503 AS RESISTANCE        
TARGETS: DOWN, (7628 7554 7503 7420)  COMMITMENTS-REPORT: ACCUMULATION   

HEATING OIL ULSD: (APR/17)  25 CENT DAILY LIMIT,                            BEARISH
TREND CHANNEL: MONTHLY UP/LESS, MODERATE RANGE, OPEN INT/UP
TRADING: WEEKLY,, ACCELERATION FLAT, TEST OF BOTTOM AS RESISTANCE DOWNSIDE 151 

TARGETS:UP, (144 151 164 177)  COMMITMENTS-REPORT: NET LIQUIDATION
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