NORTH AMERICAN AG WEEKLY CORN UPDATE 6/17/19

The following trades are hypothetical.  Past results are not a
guaranty of future results

TECHNICAL SUMMARY:

The weekly trend is UP with the computer going long December corn the week ending
5/17/19 at $3.88 with current generated stop at $3.97 (6/21/19).

Friday, June 14, 2019 December corn on the weekly chart settled the week
up 29 1/2 cents at $4.63 1/4.

HARMONIC GANN WHEEL SUPPORT AND RESISTANCE:

Support for the lead month corn measuring from the $4.40 1/2 high made 5/25/18:
360 cou = $3.61; 405 = $3.52; 450 cou = $3.25.

$3.43 is the low made 5/13/19 by the July 2019 contract.
$3.38 1/4 is the low made 5/10/19 by the May 2019 contract.
$3.52 3/4 is the low made 3/12/19 by the March 2019 contract.
$3.42 1/2 is the low made 9/19/18 by the December 2018 contract.


Resistance on the lead month chart using the 9/18/18 low made by Dec 2018
at $3.42 1/2:

360 cl = $4.34; 450 cl = $4.41; 530 cl = $4.63; 540 cl = $4.85; 720 cl - $5.07

$360.00 and $5.76 are pivot numbers on all corn charts.

On the 2019 December corn chart using the $3.64 low made 5/13/19 wheel resistance:

360 = $4.44; 405 = $4.54; 450 = $4.66; 530 cl = $4.89. 720 cl = $5.32 1/2.
720 + 180 cl = $5.81.

The rally high so far has reached $4.65 on 6/14/19.

MUST KNOW:

Using the $3.42 1/2 low made by the December 2018 contract 720 + 180 cl number is
$5.53. Add another 45 cl then $5.65. Add Another 90 cl to $5.53 is $5.77
($5.76 IS PIVOT).


HARMONIC GANN WHEEL CYCLE ANALYSIS:

360 + 45 degrees in time from the 9/18/18 low is due 7/1/19.

Using the Friday 5/14/19 low close the death cycle begins on June 28th and
ends on July 8th.

WEEKLY CYCLE ANALYSIS:

On the December corn weekly chart the end of a cycle of 144 weeks was due the
week of 6/7/19.

PLANETARY CYCLES:

On the March weekly corn chart support is at Jupiter crossing the chart at $3.60
and Pluto crossing at $4.01 1/2

Resistance ia at Jupiter crossing at $4.88 and Pluto crossing at $5.06.


WEEKLY REVERSAL PATTERNS:

There was a buy signal on the weekly December corn chart for the week ending 5/3/19
if December corn broke and closed over the previous week's inner week high $3.85 1/4
and this buy signal was triggered with December corn settling Friday 5/3/19 at
$3.87 1/2.

There was a buy signal on the weekly December corn chart for the week ending 5/17/19
if December corn broke and closed over the previous week's inner week high $3.85 1/2
and this buy signal was triggered with December corn settling Friday 5/17/19 at
$3.97 3/4.

There is neither a buy or a sell signal on the weekly December corn chart for the
week ending 6/21/19.

HEDGE RECOMMENDATIONS:

Continue to use our computer generated stops and our seminar information for your
hedging. Best of both worlds!

The planetary cycle of Pluto crosses the July monthly continuation chart
at $4.12 and Neptune crosses at $4.92. NOTE: The January 2018 seminar recommended making
some sales when July corn reached $4.12. $4.12 1/4 was the 2018 high made the week of
5/25/18.

The winter 2019 seminar pointed out $5.76 is target for corn but it might take to
2020 to get to it.  Recommended scaled up sales keeping $5.76 as possible.

Recommendation was made on 5/27/19: $4.32 give or take two cents is the first point
we can sell at. Also this is the point we cover the cost of production. $5.76 corn
is still possible!

Recommendation was made on 5/27/19: $4.56 give or take two cents is the second point
we will sell at. Also this is the the first point to make 15% of new crop sales.
$5.76 is still target. $4.65 is the 2019 high so far made on 6/14/19.

Written by David Gleason CTA and Nathan Gleason AP.

North American Ag
752 E. Greenbrier Place
Sioux Falls, SD 57108

Phone 1-605-367-9278

This information is not to be construed as an offer to sell or a
solicitation or an offer to buy the commodities herein named.ÿ The
factual information of this report has been obtained from sources
believed to be reliable, but is not guaranteed as to the accuracy,
and is not to be construed as representation by North American
Agricultural Services.

** The North American Ag Report includes information to from sources
and technical analysis believed to be reliable and accurate as of the
date of this letter, but no independent verification has been made
and the letter is not guaranteed to its accuracy or completeness.
Opinions are subject to change without notice. This report should not
be constructed as a request to engage in any transaction involving
the purchase or sale of a future contract and/or commodity options.
The risk of lost in trading futures contracts or commodity options
can be substantial, and investors should carefully consider the
inherent risks of such an investment in light of their financial
conditions. Only those in the proper financial condition and who are
willing to assume responsibility for the risks involved should
attempt futures trading. Any reproduction or re transmission of this
report without the express written consent of CTA Dave Gleason is
strictly prohibited.

NOTE: I am the adviser you are the decision maker. I have obligation
to give you my opinion because you purchased my report; you are
responsible for your decision whether to except my opinion and act on
it or not. DG

 

 

 

 

 
 

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