Monday, April 17, 2017


FARM COMMODITY TREND ANALYSIS APR 17/2017 MONDAY
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 (JUL/17) (NEW): 25 CENT DAILY LIMIT NET WORLD STOCKS/UP    BEARISH
TREND CHANNEL: MONTHLY/NEW, UP, GRADUAL, NARROW, OPEN INTEREST/FLAT-UP
TRADING/JULY: DOWN, SELLING, RESISTANCE @ 2 HIGHS HELD, TOPPY, SUPPORT @ 372    

TARGETS: UP  (351 360 372 385)  COMMITMENTS-RELATIVE STRENGTH: INCREASED

SOYBEANS (MAY/17): 65 CENT LIMIT NET WORLD STOCKS DOWN           BEARISH
TREND CHANNEL: MONTHLY, DOWN, MODERATE, WIDE, OPEN INTEREST/UP
TRADING/MAY: UP, SELLING, NO BREAKOUT ABOVE RESISTANCE @ 954, LOWER CHANNEL     
 
TARGETS: DOWN, (968 954 943 929)  COMMITMENTS-RELATIVE STRENGTH: INCREASED

WHEAT (JUL/17 (NEW): 35 CENT DAILY LIMIT NET WORLD STOCKS-UP   BULLISH
TREND CHANNEL: YEARLY, UP/LESS SO), NARROW, OPEN INTEREST/FLAT
TRADING/JULY: DOWN, SELLING, TOPPY, MET SUPPORT @ 434, MID CHANNEL                     
TARGETS: UP, (387 407 422 434 457 480)  COMMITMENTS-RELATIVE STRENGTH-: NO CHANGE  

DOLLAR CAD/USD: (JUN/17)  4.00 DAILY LIIMIT.                                   BEARISH
TREND CHANNEL: YEARLY, LOWER, WIDE, OPEN INTEREST/FLAT-DOWN
TRADING/JUN17: FLAT, MET RESISTANCE @ 7554, CLOSED BELOW,  INSIDE UPPER CHANNEL                
TARGETS: DOWN, (7554 7503 7448 7420)  COMMITMENTS-RELATIVE STRENGTH: NO CHANGE     

HEATING OIL ULSD: (JUN/17) (NEW)  25 CENT DAILY LIMIT,                   BULLISH
TREND CHANNEL: YEARLY, UP, MODERATE, WIDE, OPEN INTEREST/UP
TRADING/JUN 17: DOWN, SELLING, MET SUPPORT @ 164, LOWER CHANNEL 

TARGETS:UP, (151 156 164 169)  COMMITMENTS-RELATIVE STRENGTH:-INCREASED
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