Monday, April 24, 2017


FARM COMMODITY TREND ANALYSIS APR 24/2017 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): 25 CENT DAILY LIMIT NET WORLD STOCKS/UP              BULLISH            
TREND CHANNEL: MONTHLY, UP,  MORE GRADUAL, NARROW, OPEN INTEREST/DOWN
TRADING: UP/LEG UP-TYPICAL 1ST DAY, NET BUYING, MAJOR SUPPORT @ 360/BOTTOM     

TARGETS: UP  (351 360 372 385)  COMMITMENTS-INVESTORS, MORE NET SHORT AGAIN

SOYBEANS (JUL/17): 65 CENT LIMIT NET WORLD STOCKS DOWN         BULLISH
TREND CHANNEL: MONTHLY, DOWN, MODERATE, WIDE, OPEN INTEREST/DOWN
TRADING: UP/LEG UP, DAY 4, BUYING, TESTED/CLOSED ABOVE 968/MID CHANNEL      
 
TARGETS: DOWN, (1050 1004 968 954)  COMMITMENTS-INVESTORS MORE NET SHORT AGAIN

WHEAT (JUL/17): 35 CENT DAILY LIMIT NET WORLD STOCKS-UP,           BULLISH  
TREND CHANNEL: MONTHLY, (NEW) UP/MORESO, NARROW, OPEN INTEREST/DOWN
TRADING: UP/LEG UP, DAY 1, MATCHED BUYING, MAJOR SUPPORT @ 422/MID CHANNEL                     
TARGETS: UP, (411 422 434 457)  COMMITMENTS-INVESTORS MORE NET SHORT  

DOLLAR CAD/USD: (JUN/17)  4.00 DAILY LIIMIT.                                          BEARISH
TREND CHANNEL: YEARLY, LOWER, WIDE, OPEN INTEREST/UP
TRADING: FLAT/LEG DOWN, DAY 7, NET SELLING, ONSIDE 7420, RESISTANCE MID CHANNEL,                 
TARGETS: DOWN, (7503 7448 7420 7332)  COMMITMENTS-HEDGERS MORE LONG     

HEATING OIL ULSD: (JUN/17) (NEW)  25 CENT DAILY LIMIT,                  BEARISH-OVERSOLD
TREND CHANNEL: MONTHLY, (NEW) UP, MODERATE, WIDE, OPEN INTEREST/FLAT-LOWER
TRADING: FLAT/LEG DOWN, DAY 7, NET SELLING, TESTED/CLOSED BELOW 156/BOTTOM 

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