Technical for Trading Friday Nov 6, 2009

Technical by chococommodity

CBOT-Soybean(Jan10) Soybean prices has down from high 1,022 cent , not enough money flow to break resistance 1,017 cent just touch and goes down. The major trend is down pressure from fundamental, huge US crop, good weather for harvest , Brazil crop estimated at 62.5-63.5 million by CONAB more than USDA at 62 million tonnes, trader eye on USDA supply and demand release on next Tuesday. From 30 min chart (price was 979 while I wrote blog in Asia trade) after slow stochastic indicated selling signal at 985 cent prices was trading below moving average 10,20,30 bearish in moving average indicator. Slow stochastic is down trend. MACD seem to be reverse and RSI is neutral with downtrend. Intraday trend is mixed. Daily chart is also bearish in MACD and Slow stochastic indicator. Price will open lower . The support level is 973-967 and trading range is 967-990 cent.


CBOT-Corn(Dec09) Corn price down after cannot break resistance at 412 cent and price could not hold at 386 cent of 200 day moving average , Daily chart pattern show minor reverse from up to down trend, Slow stochastic has selling signal and down trend, MACD is down trend but RSI is neutral. Their is bearish in daily chart. Addition analysis with 30 min chart, It shown buying singnal in MACD, Stochastic and RSI is neutral. Price pattern is side way steady around 375 cent. The 30 min corn's chart indicated a reversal at 375 cent. Today corn price will be lower. Down side support 373-370 and 365 cent and trading rage is 370-385 cent.



CBOT-Wheat(Dec09) Stochastic indicator in daily chart shown sell signal at 513 cent level. MACD is down trend but RSI is neutral. Moving average indicator has a minor selling signal, wheat price will reverse to down trend. From 30 min chart, price pattern is side way at 512 cent , Stochastic, RSI and MACD is neutral. In Asia trade wheat price can hold at 513 cent.Today wheat price will open lower . The support is 510-513 cent and trading range is 510-520.

Add with trend for futures trading, present by www.patterntrapper.com

The Trend for trading on Thursday, 6 Nov indicated corn, soybean, soy meal and wheat futures is bearish with selling signal but soy oil is neutral with minor selling signal. USD index is bearish. Crude oil and Gold price still bullish.

Presented by www.PatternTrapper.com					Minor Trend	Major Trend	Trend Reading
INDICES	Close	Change	3x1	7x5

S&P 500 - Dec ESZ9	1063.25	+ 16.25	1048.81	1050.33			Bullish
Dow Jones - Dec YMZ9	9954	+ 169	9808	9774			Bullish
Nasdaq - Dec NQZ9	1719.25	+ 32.50	1690.08	1700.92			Bullish
Russell - Dec TFZ9	578.60	+ 14.50	568.42	576.53			Bullish

CURRENCIES

US Dollar Index - Dec DXZ9	75.865	+ 0.040	76.227	76.183			Bearish
Australian Dollar - Dec ADZ9	0.9063	− 0.0005	0.9020	0.9033			Bullish
British Pound - Dec BPZ9	1.6577	+ 0.0021	1.6486	1.6434			Bullish
Canadian Dollar - Dec CDZ9	0.9387	− 0.0024	0.9374	0.9320			Bullish
EuroFX - Dec ECZ9	1.4872	+ 0.0010	1.4803	1.4819			Bullish
Japanese Yen - Dec JYZ9	1.1025	+ 0.0003	1.1052	1.1020			Neutral
Swiss Franc - Dec SFZ9	0.9844	+ 0.0002	0.9804	0.9807			Bullish

ENERGY

Crude Oil - Dec CLZ9	79.62	− 0.78	79.55	78.48			Bullish
Heating Oil - Dec HOZ9	2.0576	− 0.0326	2.0668	2.0494			Neutral
Natural Gas - Dec NGZ9	4.782	+ 0.057	4.820	5.148			Bearish

GRAINS

Corn - Dec CZ9	376^4	− 7^4	385^2	376^6			Bearish
Wheat - Dec WZ9	512^2	− 8^6	515^4	513^4			Bearish
Soybeans - Jan SF0	972^0	− 27^0	997^0	984^6			Bearish
Soybean Meal - Dec SMZ9	291.3	− 10.3	301.3	295.4			Bearish
Soybean Oil - Dec BOZ9	37.18	− 0.37	37.41	36.99			Neutral