NORTH AMERICAN AG DAILY CORN UPDATE 2/22/11
POSSIBLE DAILY REVERSAL PATTERNS:
Possible buy signal for Tuesday, February 22, 2011 in July corn if price
trades above 726 3/4.
HARMONIC WHEEL SUPPORT AND RESISTANCE:
Using the Harmonic Wheel July electronic corn next areas of resistance
720 degrees # 7.32 1/4 and the 810 degrees # 7.60 1/4. (CL 5.31 3/4 low)
The next areas of support are 45 degrees # 7.16 3/4 and the 90 degrees
# 7.03 1/4 (COU 7.29 high).
HARMONIC CYCLE ANALYSIS:
Using the Harmonic Wheel and measuring from the 11/17/10 low of 5.31 3/4
July corn had a harmonic cycle of 90 degrees expire on 2/16/11.
Using the Harmonic Wheel and measuring from the 11/17/10 low of 5.31 3/4
July corn has a harmonic cycle of 120 degrees due on 3/19/11.
WEEKLY TREND FOLLOWING STOPS:
The week ending 12/23/10 the weekly July corn chart(elec) went LONG
at $6.26 1/4 with current generated stop at $6.57. (2/22/11)
POSSIBLE WEEKLY REVERSAL PATTERNS:
Possible weekly sell signal for week ending 2/25/11 in July corn if price
trades below 6.94.
WEEKLY CORN ANALYSIS:
HEDGE RECOMMENDATIONS:
Continue to use our computer generated trades and our seminar
information for your hedging. Best of both worlds!
Dave Gleason
North American Ag
752 E. Greenbrier Place
Sioux Falls, SD 57108
** 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 retransmission of this
report without the express written consent of CTA Dave Gleason is
strictly prohibited.
NOTE: I am the advisor 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