NORTH AMERICAN AG WEEKLY WHEAT UPDATE 1/18/21

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 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 (1/22/21).

Friday, January 15, 2021 May Chicago wheat on the weekly chart settled the week
up 35 1/2 cents at $6.75 1/2.

The weekly trend is UP with the computer going long March Minneapolis wheat on
the weekly chart the week ending 8/28/20 at $5.47 with current trend
generated stop at $5.68 3/4 (1/22/21).

Friday, January 15, 2021 March Minneapolis wheat on the weekly chart settled the
week up 35 1/2 cents at $6.43 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.

$6.41 1/2 is the high posted by the May Chicago wheat on 12/31/20.

Support for May Chicago wheat measured from the 12/31/20 high $6.41 1/2:

144 cou = 6.02; 216 cou = $5.83 1/2; 360 cou = $5.43.

The May Chicago wheat posted a cycle low on 12/7/20 at $5.69 1/4.
 

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:

On the weekly December Chicago wheat chart the end of a cycle of 144 weeks was due
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 is due the week of
12/25/20. 

PLANETARY CYCLES:

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.

WEEKLY REVERSAL PATTERNS:

There is a buy signal on the May Chicago wheat chart for the week ending 1/22/21
if May wheat breaks and closes over last week's inner week high $6.93.

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 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).

$5.81 is where the planetary cycle of Mars crosses the July Chicago wheat chart.

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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