NORTH AMERICAN AG WEEKLY SOYBEAN UPDATE 1/18/21
The following trades are hypothetical. Past results are not a
guaranty of future results
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 $12.46 1/4 (1/22/21).
Friday, January 15, 2021 March soybeans on the weekly chart settled the week
up 38 cents at $14.14 3/4.
The weekly trend is UP for November soybeans with computer going long November
soybeans on the weekly chart the week of 6/5/20 at $8.70 3/4 with current
generated stop at $10.75 1/2 (1/22/21).
Friday, January 15, 2021 November soybeans on the weekly chart settled the week
up 33 cents at $11.96.
HARMONIC GANN WHEEL SUPPORT AND RESISTANCE:
On the March soybean chart using the $14.36 1/2 high made 1/13/21 support is:
45 cou = $14.21; 90 cou = $13.98; 120 cou = $13.88; 144 cou = $13.79;
216 cou = $13.48 1/2.
$11.43 is the low made 12/2/20.
On the March soybean chart using the $8.26 1/2 low made 4/28/20 wheel resistance:
720 + 180 cl = 11.40; 720 + 360 cl $12.08; 720 + 360 cl + 360 cl = $13.51; 720
+ 720 + 180 cl= = 14.26; 720 + 720 + 720 = 15.01 1/2.
7.50 and $10.45 and $12.55 are pivot number (they can mark lows or highs).
HARMONIC GANN WHEEL CYCLE ANALYSIS:
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 8/12/20 low the 84 market day cycle marked a cycle low at
$11.42 3/4 on 12/8/20.
On the March daily soybean chart measured from the 4/28/20 low $8.26 1/2 the 287
bean harmonic measured is due 2/9/21. The midpoint in price is $11.13 and target
WEEKLY CYCLE ANALYSIS:
On the November weekly soybean chart starting a 144 week cycle from 7/13/18 low
$8.26 3/4 the double clue cycle was due the week of 8/14/20 (marked a cycle low
at $8.65). The clue cycle marked the $10.22 1/4 the week of 12/4/20. The end of
the 144 week is due the week of 4/16/21.
On the March 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 March soybean weekly chart resistance is at Pluto crossing
WEEKLY REVERSAL PATTERNS:
There is a sell signal on the weekly March soybean chart for the week ending 1/22/21
if March soybeans break and close under last week's inner week low $13.54.
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
Recommended 12/28/19: When November soybeans reach $10.45 make some more 2020
crop sales (this recommendation was filled on 9/18/20 when November posted a
temporary high at $10.46 3/4).
When November soybeans reach $10.90 make more sales. This recommendation was filled
When November soybeans reach $11.15 make more sales ($11.50 1/4 was the high made
Recommended on 11/21/20 If January 21 soybeans reach $12.03 bring total sales up to
75% (This recommendation was filled).
12/26/20 When March 2021 soybean reach $12.90 make another 5% of soybean sales bringing
total sales to 80%.
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
strictly prohibited. Next Page