Monday, May 08, 2017


FARM COMMODITY TREND ANALYSIS MAY 08/2017 MONDAY
MARKETS: PRICE SUPPLY/DEMAND USING RELATIVE STRENGTH OF TRADING
TRENDS: LINES, LONG TERM, JOINING, LOWER HIGHS/DOWN, HIGHER LOWS/UP 
TARGETS:  RESISTANCE/SUPPORT LEVELS, OBJECTIVES (PROJECTED)
 
TRADING: DIRECTION, STRENGTH, RELATIVE LOCATION TO TRENDS/TARGETS 

CORN (JUL/17): $0.25/BU, DAY 1 LIMIT, NET WORLD STOCKS/UP,                
TREND: MONTHLY-LINE/UP, OPEN INTEREST/UP,    LOWER HIGH    FUTURES-FLAT 
TRADING: DOWN/LEG DOWN, NET SELLING, STRENGTH TO CONVERGING UP TREND

TARGETS: UP  (351 360 372 385)  COMMITMENTS REPORT = STRENGTH REDUCED 

SOYBEANS (JUL/17): $0.70/BU, DAY 1 LIMIT, NET WORLD STOCKS DOWN,
TREND: MONTHLY-LINE/DOWN, OPEN INTEREST/FLAT  LOWER HIGH   FUTURES-FLAT
TRADING: DOWN/TOPPING, NET SELLING, CLOSED BELOW 968/ABOVE TREND

TARGETS: DOWN, (1004 968 954 943)  COMMITMENTS REPORT= STRENGTH REDUCED

WHEAT (JUL/17): $0.30/BU INITIAL LIMIT, NET WORLD STOCKS-UP,         
TREND: MONTHLY-LINE/UP, OPEN INTEREST/DOWN      LOWER HIGH   FUTURES-UP
TRADING: DOWN/GAP UP FILLED, SELLING, CLOSED BELOW 434/ABOVE TREND                        
TARGETS: UP, (422 434 443 457 480)  COMMITMENTS REPORT = STRENGTH REDUCED  

DOLLAR CAD/USD: (JUN/17)  4.00 DAILY LIIMIT.                                     
TREND: MONTHLY-LINE/DOWN, OPEN INTEREST/UP,     HIGHER LOWS
TRADING: UP/LEG UP, NET SELLING, RESISTANCE @ 7332/BELOW TREND                   
TARGETS: (7416 7332 7298 7260)  COMMITMENTS REPORT = STRENGTH INCREASED     

HEATING OIL ULSD: (JUN/17),  25 CENT DAILY LIMIT,                        
TREND: WEEKLY-LINE DOWN, OPEN INTEREST/UP,     HIGHER LOW  FUTURES-UP
TRADING: UP/LEG UP, DECELERATION, NET BUYING, TEST OF/CLOSED @ TREND 

TARGETS: DOWN, (153 146 134 111)  COMMITMENTS REPORT = STRENGTH REDUCED
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