NORTH AMERICAN AG WEEKLY SOYBEAN UPDATE 12/16/19

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

TECHNICAL SUMMARY:

The weekly trend is DOWN for March soybeans with computer going short March
soybeans on the weekly chart the week of 11/29/19 at $9.06 3/4 with current
generated stop at $9.42 3/4 (12/20/19).

Friday, December 13, 2019 March soybeans on the weekly chart settled the week
up 17 3/4 cents at $9.21.

The weekly trend is DOWN for November 2020 soybeans with computer going short November
soybeans on the weekly chart the week of 11/29/19 at $9.39 with current
generated stop at $9.65 1/2 (12/20/19).

Friday, December 13, 2019 November 2020 soybeans on the weekly chart settled the week
up 13 1/4 cents at $9.50 3/4.
 
 

HARMONIC GANN WHEEL SUPPORT AND RESISTANCE:

On the November soybean chart $8.51 the low made 9/9/19.

On the March soybean chart using th $9.70 high made 10/22/19 support is:
270 cou = $8.79 1/2; 315 cou - $8.62; 360 cou = $8.49 1/2.

$8.82 1/2 is the low made 12/2/19.

On the March soybean chart $8.41 1/2 is the low made 5/14/19 and
$8.79 1/4 is the low made 9/9/19.

Using the $8.79 1/4 low March soybean have resistance at:
216 = 9.49 1/2; 270 cl = $9.70; 360 cl = $10.02. 

$9.70 is the high made 10/22/19.

$7.50 and $10.45 and $12.55 are pIvot number (they can mark lows or highs).

HARMONIC GANN WHEEL CYCLE ANALYSIS:

Measuring from the 3/2/18 high $10.71 a 287 harmonic cycle was due on 12/14/18 and
marked the 12/12/18 high on the November 2019 soybean chart at $9.71.

Measured from the 5/13/19 low the 287 bean harmonic is due 2/23/20.

WEEKLY CYCLE ANALYSIS:

Measured from the 3/4/16 low $8.49 the midpoint in time was due the
week ending 7/14/17 (MARKED THE 2017 HIGH).

On the November weekly bean chart the clue cycle was due the week of 4/13/18 (marks
2018 high $10.60 1/2). The end of this 144 week cycle was due the week
of 11/30/18 (marked high $9.71.

On the November soybean weekly chart 36 weeks from the $8.12 1/4 low made 9.21.18
was due the week of 5/24/19 and it marked a signifcant cycle low a week early
(the week of 5/17/19) at $8.15 1/2.

Pivot $10.45 in 2016 marked the 2016 high at $10.43 the week of 12/2/16 and again in
2017 $10.45 marked 2017 high at $10.47 the week of 7/14/17. $10.60 1/2 is the 2018
high made the week of 6/1/18.

PLANETARY CYCLES:

On the November soybeaan chart support is at Uranus crossing at $8.42.

  WEEKLY REVERSAL PATTERNS:
There is a sell signal on the weekly March soybean chart for the week ending
12/13/19 if March soybeans break and close under last week's inner week low
$9.02 1/2.

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

Recommended 6/3/19:

When November soybeans hit $9.60 makes sales to cover cost of production.
When November soybeans reach $10.45 make some new crop sales.

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

** Hypothetical performance results have many inherent limitations some
which are described below:

No Representation is being made that any account will or is likely to
achieve profits or losses similar to those shown.  In fact there are
frequently sharp differences between hypothetical performance results
and the actual results subsequently achieved by any particular
trading program.  One of the limitations of hypothetical performance
results is they are generally prepared with the benefit of hindsight.
In addition hypothetical trading does not involve financial risk, and
no hypothetical trading record can completely account for the impact
of financial risk in trading.  For example the ability to withstand
losses or adhere to a particular trading program in spite of trading
losses are material points which can also adversely affect actual
trading results. There are numerous other factors related to the
markets in general or to the implementations of any specific trading
program which cannot be fully accounted for in the preparation of
hypothetical performance results and all of which can adversely
affect trading results.


** 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. 

 

 

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