NORTH AMERICAN AG WEEKLY WHEAT 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 with the computer going long July Chicago wheat on
the weekly chart the week ending 5/17/18 at $4.49 3/4 with current trend
generated stop at $4.82 (6/21/19).

Friday, June 14, 2019 July Chicago wheat on the weekly chart settled the week
up 36 cents at $5.39 1/2.

The weekly trend is UP with the computer going long July Minneapolis wheat on
the weekly chart the week ending 5/24/19 at $5.45 1/4 with current trend
generated stop at $5.27 3/4 (6/21/19).

Friday, June 14, 2019 July Minneapolis wheat on the weekly chart settled the week
down 5 1/2 cents at $5.63 1/4.

HARMONIC GANN WHEEL SUPPORT AND RESISTANCE:

Resistance for July Chicago wheat measured from the 5/13/19 low $4.18 1/2:
450 cl = $5.28; 540 = $5.50 1/2; 630 = $5.75; 720 cl = $5.98 1/2;
720 cl + 180 cl = $6.48.

$5.44 is the high posted on 6/14/19.

Support for July Chicago wheat measured from the 12/13/18 high 5.49:
360 cou = $4.58, 450 cou = $4.37 1/2; 360 + 180 cou = $4.17 1/2.

$4.18 1/2 is the low posed by July Chicago wheat on 5/14/19.

HARMONIC GANN WHEEL CYCLE ANALYSIS:

Measured from the 12/13/18 high close on the July Chicago wheat chart
90 degrees in time was due 3/14/19 and it marked 3/15/19 low at $4.35 1/2.
180 degrees in time is due 6/14/19.


WEEKLY CYCLE ANALYSIS:

On the weekly July Chicago wheat chart the clue cycle marks the week of 11/30/18
cycle low $5.17. The end of the 144 week cycle was due the week of 4/12/19.

Starting a cycle 144 weeks from the 7/25/16 low $4.84 the end of the 144 weeks
was due the week of 5/3/19. The contract low was posted $4.89 3/4 on 4/30/19.

PLANETARY CYCLES:

On the July Chicago wheat weekly chart support is at Neptune crossing at $4.15.
Resistance is at Uranus crossing at $4.69 and Jupiter crossing at $7.44.

WEEKLY REVERSAL PATTERNS:

There was a buy signal on the weekly July Chicago wheat chart for the week
ending 5/17/19 if July Chicago broke and closed over the previous week's inner
week high $4.43 1/2 and this buy signal was triggered with July Chicago wheat
settling 5/17/19 at $4.63.

There was a buy signal on the weekly July Chicago wheat weekly chart for the
week endiing 6/14/19 if July Chicago wheat broke and closed over the previous
week's inner week high $5.29 and this buy signal was triggered with July Chicago
wheat settleing Friday 6/14/19 at $5.39 1/2.

There is neither a buy or a sell signal for the week ending 6/21/19.

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

This 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
Agricultural Services.

** 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.

NOTE: I am the adviser you are the decision maker. I have obligation
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

 

 
 

 

 

 

 

 


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