NORTH AMERICAN AG WEEKLY WHEAT UPDATE 3/8/21
The following trades are hypothetical. Past results are not a
guaranty of future results
The weekly trend is UP with the computer going long May Chicago wheat on
the weekly chart the week ending 12/25/20 at $5.23 1/4 with current trend
generated stop at $6.08 (3/12/21).
down 5 3/4 cents at $6.54 1/2.
The weekly trend is UP with the computer going long May Minneapolis wheat on
up weekly chart the week ending 12/18/20 at $5.82 with current trend
generated stop at $5.78 (3/12/21).
week up 6 1/2 cents at $6.45 1/4.
HARMONIC GANN WHEEL SUPPORT AND RESISTANCE:Resistance for May Chicago wheat measured from the 6/26/20 low $4.94 1/4.
360 cl = $5.87; 360 + 180 cl = $6.36; 720 cl = $6.88; 720 cl + 180 cl = $7.41.
$6.93 is the high posted by the May Chicago wheat on 1/15/21.Support for May Chicago wheat measured from the 1/15/21 high $6.93:
216 cou = 6.33; 270 cou = $6.16; 360 cou = $5.02.The May Chicago wheat posted a cycle low on 1/25/21 at $6.26.
HARMONIC GANN WHEEL CYCLE ANALYSIS:Measuring from the 6/26/20 low 90 degrees in time was due 9/25/20 (marked a low
on Monday 9/28/20 at $5.37 3/4). 180 degrees was due 12/25/20 (marked cycle low
on Monday 12/7/20 at $5.69 1/4).
WEEKLY CYCLE ANALYSIS:
the week ending 9/4/20. The first division point past the 144 is due the week of
1/13/21 and the second division point past is due the week of 5/21/21.
On the July Chicago wheat weekly chart a 84 week cycle was due the week of
12/25/20 (came a few weeks early and marked a cycle low at $5.69 1/4).
On the July Chicago wheat weekly chart support is at Uranus crossing at $4.68 and
resistance at Pluto crossing at $7.99. The upper Uransu crosses at $9.29.
There is neither a buy signal or a sell signal on the July Chicago weekly wheat chart
for the week ending 3/12/21.
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 and
our first target is $5.81 hence sell enough wheat to cover the cost of production
when July Chcago wheat hits $5.75 or higher (2021 July Chicago wheat reached
the sell price posting a high $5.76 on 9/1/20 and $5.75 1/2 on 9/18/20).
Written by David Gleason CTA and Nathan Gleason AP.North American Ag
752 E. Greenbrier Place
Sioux Falls, SD 57108
Phone 1-605-367-9278This information is not to be construed as an offer to sell or a
solicitation or an offer to buy the commodities herein named.ÿ The
factual information of this report has been obtained from sources
believed to be reliable, but is not guaranteed as to the accuracy,
and is not to be construed as representation by North American
** 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
to give you my opinion because you purchased my report; you are
responsible for your decision whether to except my opinion and act on
it or not. DG