NORTH AMERICAN AG WEEKLY FEEDER CATTLE UPDATE 6/17/19
The following trades are hypothetical. Past results are not a
guaranty of future results
The weekly trend is DOWN on the August electronic feeder cattle chart with
the computer going short August feeder cattle the week of 4/2/19 at $153.85
with the current trend generated stop at $148.10 (6/21/19).
Friday, June 14, 2019 August feeder cattle on the weekly chart settled the week
down 1.775 at $135.65.
HARMONIC GANN WHEEL SUPPORT AND RESISTANCE:
Support for August feeders using the $161.40 high made 4/19/19.
360 + 180 cou = $138.20; 360 + 270 cou = $134.45; 720 cou $130.90.
720 + 45 cou = $128.80; 720 + 90 cou = $127.30; 720 + 180 cou = $123.70.
On the August feeder cattle chart $132.15 is the low made on 5/31/19.
Resistance for August feeder cattle using the $145.825 low made 12/4/18:
270 cl = $157.50; 360 cl = $161.50; 405 cl = $163.20; 450 cl = $165.50.
$161.40 is the high made on 4/18/19.
HARMONIC GANN WHEEL CYCLE ANALYSIS:
On the May feeder cattle chart measured from the 5/17/18 low $131.875 the 233
cattle harmonic was due 1/6/19 however it came in as a 228 and ended on
12/31/18 marking a high at $147.65.
There was a time and price meet due 3/20/19 on August feeder cattle chart at
154.80. August feeders knife through $54.80 and closed over $154.80 indicating
a strong bull market - (breaking though this low was bearish).
A 84 market day cycle measured from the 12/3/18 low was due Friday 4/5/19 and it
came in a couple days early and marked the Wednesday 4/3/19 low at $153.85
(breaking through this low was bearish).
From the 4/18/19 high the death cycle begins on 6/2/19 and ends 6/12/19.
WEEKLY CYCLE ANALYSIS:
The August feeder cattle chart had a double clue cycle mark the 11/9/18 cycle low
at $145.92. The clue cycle was due the week of 3/15/19 and marked a high
at $159.825 the week of 3/22/19.
Major resistance is at Neptune crossing the chart at $159.50 with a high posted
the week of 11/3/17 and 11/10/17 posted at $159.20. The October and November 2018
feeder cattle also found resistance there with high on the October posted on 9/14/18
at $159.90 and October posing a high at $159.725 on 10/1/18.
On the August feeder cattle chart Uranus is support crossing the chart at
$112.00 and resistance is at Jupiter crossing the chart at $146.85.
WEEKLY BUY AND SELL SIGNALS:
There is a buy signal on the weekly August feeder cattle chart for the week ending
6/21/19 if August feeder cattle break and close over last week's inner week high
Continue to use our computer generated trades and our seminar information for
your hedging. Best of both worlds!
Written by David Gleason CTA and Nathan Gleason AP.
North American Ag
752 E. Greenbrier Place
Sioux Falls, SD 57108
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
** 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
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