Thursday, April 20, 2017


FARM COMMODITY TREND ANALYSIS APR 20/2017 THURSDAY
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): 25 CENT DAILY LIMIT NET WORLD STOCKS/UP             BEARISH            
TREND CHANNEL: MONTHLY, UP/REVISED MORE GRADUAL, NARROW, OPEN INTEREST/DOWN
TRADING: LEG DOWN, NET SELLING, DOWNSIDE 372, INSIDE LOWER CHANNEL-REVISED     

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

SOYBEANS (JUL/17): 65 CENT LIMIT NET WORLD STOCKS DOWN     WEAK BULLISH
TREND CHANNEL: MONTHLY, DOWN, MODERATE, WIDE, OPEN INTEREST/DOWN
TRADING: UP/LEG DOWN, NET SELLING, ABOVE 954, BELOW 968/MID CHANNEL,     
 
TARGETS: DOWN, (968 954 943 929)  COMMITMENTS-RELATIVE STRENGTH: INCREASED

WHEAT (JUL/17): 35 CENT DAILY LIMIT NET WORLD STOCKS-UP,          BEARISH  
TREND CHANNEL: YEARLY, UP, NARROW, OPEN INTEREST/FLAT
TRADING: DOWN/LEG DOWN, ACCELERATED SELLING, UPSIDE 422, ONSIDE MID CHANNEL                     
TARGETS: UP, (411 422 434 457)  COMMITMENTS-RELATIVE STRENGTH-: NO CHANGE  

DOLLAR CAD/USD: (JUN/17)  4.00 DAILY LIIMIT.                                  BEARISH
TREND CHANNEL: YEARLY, LOWER, WIDE, OPEN INTEREST/UP
TRADING: FLAT/LEG DOWN, MATCHED, UPSIDE 7420, BELOW MID CHANNEL,                 
TARGETS: DOWN, (7503 7448 7420 7332)  COMMITMENTS-RELATIVE STRENGTH: NO CHANGE     

HEATING OIL ULSD: (JUN/17) (NEW)  25 CENT DAILY LIMIT,                  BEARISH-OVERSOLD
TREND CHANNEL: YEARLY, UP, MODERATE, WIDE, OPEN INTEREST/FLAT-LOWER
TRADING: FLAT/LEG DOWN, MATCHED SELLING, ABOVE 156, BELOW CHANNEL BOTTOM 

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