NORTH AMERICAN AG WEEKLY SOYBEAN 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 for July soybeans with computer going long July
soybeans on the weekly chart the week of 6/14/19 at $8.96 3/4 with current
generated stop at $8.29 1/4 (6/21/19).

Friday, June 14, 2019 July soybeans on the weekly chart settled the week
up 41 3/4 cents at $8.97 1/4.

The weekly trend is UP for November soybeans with computer going long November
soybeans on the weekly chart the week of 5/31/19 at $9.15 3/4 with current
generated stop at $8.55 1/2 (6/21/19).

Friday, June 14, 2019 November soybeans on the weekly chart settled the week
up 41 1/4 cents at $9.23 3/4.

HARMONIC GANN WHEEL SUPPORT AND RESISTANCE:

Support for July soybeans measuring from the 9.64 1/4 high posted 12/13/18.
360 = $8.44; 405 = $8.28 1/2; 450 cou = $8.16; 505 = $7.99; 540 = $7.88.            m

$7.91 is low posted low posted on 5/13/19.


$7.91 is the low posted by the July contract on 5/13/19.
$7.80 1/2 is the low posted by the May contract on 5/13/19.
$8.78 1/2 is the low posted by the March contract on 3/11/19.
$8.26 1/4 is the low posted by the January contract on 9/18/18.
$8.26 is the low posted by the July 2018 contract on 7/13/18.

Support for November soybeans from the $9.71 high made 12/12/18:

450 cou = $8.22; 540 = $7.94.

$8.15 1/2 is the low posted on 5/13/19.

Resistance for November soybeans using the $8.15 1/2 low made 5/13/19.

144 cl = $8.60; 180 cl = $8.74; 216 cl = $8.85 1/2; 270 cl = $9.04;
315 cl = $9.17 1/2; 360 cl = $9.34; 405 cl = $9.47 1/2; 450 cl = $9.64; 

$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.

The 287 bean harmonic cycle measured from the 9/18/18 cycle low is due 7/2/19.

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
current 2018 high $10.60 1/2). The end of this 144 week cycle was due the week
of 11/30/18.

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 could marked a signifcant cycle low a week early
(the week of 5/17/19).

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 July weekly soybean planetary chart the planetary cycle of Uranus is
support at $9.02.

On July weekly soybean planetary chart resistance is at Neptune crossing at $8.46
and Uranus crossing at $9.02. Above these two planets is Jupiter crossing at $11.74.

  WEEKLY REVERSAL PATTERNS:

There was a buy signal on the weekly November soybean chart for the week ending
6/14/19 if November soybeans broke and closed above last week's inner week high
$9.21 1/4 and this buy signal was triggered with November beans settling Friday
4/14/19 at $9.23 3/4.

There is a buy signal again this week if November soybeans break and close over
last week's inner week high $9.24 3/4.

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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