NORTH AMERICAN AG WEEKLY SOYBEAN UPDATE 9/21/20
The following trades are hypothetical. Past results are not a
guaranty of future results
The weekly trend is UP for November soybeans with computer going long November
soybeans on the weekly chart the week of 8/21/20 at $9.03 3/4 with current
generated stop at $9.42 3/4 (9/25/20).
Friday, September 18, 2020 November soybeans on the weekly chart settled the week
up 46 1/4 cents at $10.43 3/4.
The weekly trend is UP for March soybeans with computer going long March
soybeans on the weekly chart the week of 6/5/20 at $8.72 3/4 with current
generated stop at $9.50 1/2 (9/25/20).
Friday, September 18, 2020 March soybeans on the weekly chart settled the week
up 39 1/4 cents at $10.37 1/4.
HARMONIC GANN WHEEL SUPPORT AND RESISTANCE:
On the November 2019 soybean chart $8.51 the low made 9/9/19.
On the November soybean chart using the $9.12 1/2 high made 7/6/20 support is:
90 cou = $8.83; 120 cou - $8.72 1/2; 144 cou = $8.62 1/2 1/2; 216 cou = $8.39 1/2.
$8.71 1/2 is the low made 7/13/20.
Using the $8.31 low on the November soybean made 4/21/20 resistance is at:
450 CL = $9.8l 1/2: 360 + 180 cl = $10.14; 720 + 180 cl = $11.52 1/2.
$10.46 3/4 is so far the high made 9/18/20.
$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 1/2/20 high the 180 degree harmonic cycle was due 7/3/20 and
marked the Monday 7/6/20 high $9.12 1/2.
On the November soybean chart 144 degrees in time from the 3/18/20 low $8.36 3/4 was
due 8/12/20 and marked a cycle low at $8.65 1/4.
Measured from the 3/18/20 low the 287 bean harmonic is due 12/30/20.
WEEKLY CYCLE ANALYSIS:
Starting a 144 week cycle from 9/21/18 low $8.12 1/4 the double clue cycle is due
the week of 10/9/20.
On the November soybean chart support is at Uranus crossing at $8.42.
$8.36 3/4 is the low made 3/18/20 and $8.31 is low made 4/21/20.
On the November soybean weekly chart resistance is at Pluto crossing
WEEKLY REVERSAL PATTERNS:
There was a buy signal on weekly November soybean charts for the week ending 8/28/20
if November soybeans broke and closed over the previous week's inner week high
$9.19 1/2 and this buy signal was triggered with November soyeans settling
Friday 8/28/20 at $9.50.
There is a sell signal on the weekly November soybean chart for the week ending
9/25/20 if November soybeans break and settle under last week's inner week low
Continue to use our computer generated stops and our seminar information for
your hedging. Best of both worlds!
Recommended 12/28/19: When November soybeans hit $9.70 make sales to cover cost
of 2020 production. This recommendation was filled on 12/30/19 and again on
When November soybeans reach $10.45 make some more 2020 crop sales ($9.46 3/4 is
the high made 9/18/20).
When November soybeans reach $10.80 make more sales.
When November soybeans reach $10.90 make more sales.
When November soybeans reach $11.15 make more sales.
Written by David Gleason CTA and Nathan Gleason AP.
North American Ag
752 E. Greenbrier Place
Sioux Falls, SD 57108
** 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