Wednesday, April 05, 2017


FARM COMMODITY TREND ANALYSIS APR 05/2017 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: WEEKLY  DOWN   GRADUAL  NARROW   OPEN INTEREST/DOWN
TRADING: DAILY, DOWN, DAY 2, RESISTANCE @ CHANNEL BOTTOM PREVAILED, NET BUYING   

TARGETS: DOWN  (386 360 350 340)  COMMITMENTS: RELATIVE STRENGTH-REVERSED EVEN 

SOYBEANS (MAY/17): 65 CENT LIMIT NET WORLD STOCKS DOWN         LESS BEARISH
TREND CHANNEL: MONTHLY  DOWN  MODERATE  WIDE  OPEN INTEREST/UP
TRADING: DAILY, UP, DAY 1, CLOSED ABOVE RESISTANCE @ 943, LOWER CHANNEL, NET BUYING,    
 
TARGETS: DOWN, (968 954 943 929)  COMMITMENTS-RELATIVE STRENGTH-REDUCED

WHEAT (MAY/17): 35 CENT DAILY LIMIT NET WORLD STOCKS-UP          BEARISH
TREND CHANNEL: YEARLY, UP/LESS SO, (NEW), NARROW,  OPEN INTEREST/FLAT
TRADING: DAILY, FLAT, DAY 2, SUPPORT ABOVE 422/UPSIDE MID CHANNEL PREVAILED                    
TARGETS: UP, (387 407 422 434 457 480)  COMMITMENTS:RELATIVE STRENGTH-INCREASED  

DOLLAR CAD/USD: (JUN/17)  4.00 DAILY LIIMIT.                                 LESS BULLISH
TREND CHANNEL: YEARLY, LOWER, WIDE,  OPEN INTEREST/UP
TRADING: DAILY, FLAT, UPSIDE SUPPORT @ 7448, ONSIDE MID YEARLY CHANNEL, MATCHED                
TARGETS: DOWN, (7554 7503 7448 7420)  COMMITMENTS: RELATIVE STRENGTH REVERSED-EVEN:    

HEATING OIL ULSD: (MAY/17)  25 CENT DAILY LIMIT,                           LESS BULLISH
TREND CHANNEL: YEARLY, UP/MORESO, LESS MODERATE, WIDE, OPEN INTEREST/UP
TRADING: DAILY, UP, RESISTANCE PREVAILED @ 164, UPSIDE SUPPORT @ BOTTOM AS SUPPORT 

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