Wednesday, March 29, 2017


FARM COMMODITY TREND ANALYSIS MAR 29/2017 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 GRADUALLY NARROW RANGE OPEN INTEREST/UP
TRADING: DAILY,  DOWN,  2ND LEG UP,  NET BUYING,  BELOW BOTTOM,  MET RESISTANCE@360  

TARGETS: UP  (351 360 377 395)  COMMITMENTS-REPORT: RELATIVE STRENGTH-REDUCED 

SOYBEANS (MAY/17): 65 CENT LIMIT NET WORLD STOCKS DOWN         NEUTRAL/BEARISH
TREND CHANNEL: MONTHLY DOWN/MODERATELY/WIDE RANGE OPEN INTEREST/FLAT
TRADING: DAILY,  3RD LEG DOWN,  NET SELLING,  LOWER CHANNEL,  MET SUPPORT @ 968 
 
TARGETS: DOWN, (1077 1050 1004 968)  COMMITMENTS-RELATIVE STRENGTH-REDUCED

WHEAT (MAY/17): 35 CENT DAILY LIMIT NET WORLD STOCKS-UP          BEARISH/FLAT
TREND CHANNEL: MONTHLY UP/GRADUALLY/NARROW RANGE OPEN INTEREST/DOWN
TRADING: DAILY,  3RD LEG DOWN,  MIXED,  CHANNEL BOTTOM,  MET SUPPORT @ 422                 
TARGETS: UP, (387 407 422 434 457 480)  COMMITMENTS:RELATIVE STRENGTH-INCREASED  

DOLLAR CAD/USD: (MAR/17)  4.00 DAILY LIIMIT.                                 NEUTRAL
TREND CHANNEL: MONTHLY DOWN/GRADUALLY/ WIDE RANGE OPEN INTEREST/FLAT
TRADING: DAILY 1ST LEG UP  DRIFTING DOWN  BUYING  ONSIDE MID CHANNEL  RESISTANCE@7503         
TARGETS: DOWN, (7628 7554 7503 7420)  COMMITMENTS: RELATIVE STRENGTH REVERSED-EVEN:    

HEATING OIL ULSD: (APR/17)  25 CENT DAILY LIMIT,                            BEARISH
TREND CHANNEL: MONTHLY UP/LESS, MODERATE RANGE, OPEN INTEREST/FLAT
TRADING: DAILY  DOWNSIDE CHANNEL BOTTOM  BROKE OUT UP THROUGH RESISTANCE @ 151 

TARGETS:UP, (144 151 164 177)  COMMITMENTS-REPORT: RELATIVE STRENGTH-REDUCED
Post a Comment
Google+