NORTH AMERICAN AG WEEKLY SOYBEAN UPDATE 8/27/18 

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

TECHNICAL SUMMARY:

The weekly trend is DOWN for November soybeans with computer going short November soybeans
on the weekly chart the week of 6/8/18 at $10.02 with current generated stop at
$9.39 (8/31/18).

Friday, August 24, 2018  November soybeans on the weekly chart settled the week
down 43 1/4 cents at $8.54 1/2.

HARMONIC GANN WHEEL SUPPORT AND RESISTANCE:

Support for November soybeans measuring from the 10.60 1/2 high posted 5/29/18.
360 + 315 cou = $8.28 1/2; 720 cou = $8.16; 720 + 180 cou = $7.60.

$8.26 1/4 is the low posted on 7/18/18.

Resistance for November beans using the $8.26 1/4 low made 7/16/18:
216 cl = 8.97; 270 cl = $9.17; 315 cl = $9.30; 360 cl = $9.45 1/2; 450 cl = $9.76.

$9.22 1/4 is the current rally high posted on 7/31/18.

HARMONIC GANN WHEEL CYCLE ANALYSIS:
 
Measuring from the 10/13/17 high $10.22 1/4 high on the March daily soybean chart
90 degrees in time was due 1/13/18 and marks the 1/12/18 low $9.44 1/2.

Measuring from the 6/23/18 contract low on July bean daily chart $9.00 1/4 the 287
harmonic was due 4/5/18 and marks the tariff low on 4/4/18 at $9.94 1/2.

Measuring from the 1/12/18 low on the November daily bean chart 180 degrees in
time was due 7/12/18 and marks the Friday 7/13/18 and the Monday 7/16/18 low
$8.26 1/4.

90 Degrees from the 5/29/18 high $10.60 1/2 is due 8/28/18 (high to low?)

Measuring from the 3/2/18 high $10.71 a 287 harmoninc cycle is due on 12/14/18.

WEEKLY CYCLE ANALYSIS:

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

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

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. So far $10.60 1/2 is the 2018 high
the week of 6/1/18.

PLANETARY CYCLES:

The planetary cycle of Jupiter crosses the March soybean weekly chart at
$8.57 and is major support.

On the planetary March soybean chart the planetary cycle of Saturn crosses the chart
at $8.96 and has been providing support. 

Resistance on the planetary March soybean chart is Neptune crossing at $9.59 and
Uranus crossing at $9.99.

$10.60 1/2 is the high on the November 2018 soybean chart posted on 5/29/18.

  WEEKLY REVERSAL PATTERNS:

There was a sell signal on the weekly November soybean chart for the week ending
8/10/18 if November soybeans broke and closed under last week's inner week low
$8.83 1/2 and this sell signal was triggered (settled Friday 8/10/18 at $8.60 3/4).

There is a sell signal on the weekly November soybean chart for the week ending
8/31/18 if November soybeans break and close under last week's inner week low
$8.53 1/2.

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

We are using the planetary grain charts to make sales again this year.

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. 

 

 

 

Next Page