NORTH AMERICAN AG WEEKLY SOYBEAN UPDATE 2/3/20
The following trades are hypothetical. Past results are not a
guaranty of future results
The weekly trend is DOWN for March soybeans with computer going short March
soybeans on the weekly chart the week of 1/24/20 at $9.19 1/2 with current
generated stop at $9.49 1/2 (2/7/20).
Friday, January 31, 2020 March soybeans on the weekly chart settled the week
down 29 1/2 cent at $8.72 3/4.
The weekly trend is DOWN for November 2020 soybeans with computer going short November
soybeans on the weekly chart the week of 1/24/20 at $9.50 3/4 with current
generated stop at $9.76 1/4 (2/7/20).
Friday, January 31, 2020 November 2020 soybeans on the weekly chart settled the week
down 26 1/4 cent at $9.12 1/2.
HARMONIC GANN WHEEL SUPPORT AND RESISTANCE:
On the November soybean chart $8.51 the low made 9/9/19.
On the March soybean chart using th $9.70 high made 10/22/19 support is:
270 cou = $8.79 1/2; 315 cou - $8.62; 360 cou = $8.49 1/2.
On the March soybean chart $8.41 1/2 is the low made 5/14/19 and
$8.79 1/4 is the low made 9/9/19. $8.82 1/2 is the low made 12/2/19.
$8.72 3/4 is the low made 1/31/20.
Using the $8.79 1/4 low March soybean have resistance at:
216 cl = 9.49 1/2; 270 cl = $9.70; 360 cl = $10.02.
$9.70 is the high made 10/22/19.
$7.50 and $10.45 and $12.55 are pIvot number (they can mark lows or highs).
HARMONIC GANN WHEEL CYCLE ANALYSIS:
Measuring from the 3/2/18 high $10.71 a 287 harmonic cycle was due on 12/14/18 and
marked the 12/12/18 high on the November 2019 soybean chart at $9.71.
Measured from the 5/13/19 low the 287 bean harmonic is due 2/23/20.
WEEKLY CYCLE ANALYSIS:
Measured from the 3/4/16 low $8.49 the midpoint in time was due the
week ending 7/14/17 (MARKED THE 2017 HIGH).
On the November weekly bean chart the clue cycle was due the week of 4/13/18 (marks
2018 high $10.60 1/2). The end of this 144 week cycle was due the week
of 11/30/18 (marked high $9.71.
On the November soybean weekly chart 36 weeks from the $8.12 1/4 low made 9.21.18
was due the week of 5/24/19 and it marked a signifcant cycle low a week early
(the week of 5/17/19) at $8.15 1/2.
Pivot $10.45 in 2016 marked the 2016 high at $10.43 the week of 12/2/16 and again in
2017 $10.45 marked 2017 high at $10.47 the week of 7/14/17. $10.60 1/2 is the 2018
high made the week of 6/1/18.
On the November soybeaan chart support is at Uranus crossing at $8.42.
WEEKLY REVERSAL PATTERNS:
There was a sell signal on the weekly November soybean chart for the week ending
1/24/20 if November soybeans broke and closed under the previous week's inner week
low of $9.53 1/2 and this sell signal was triggered with November soybeans
settling Friday 1/24/20 at $9.38 3/4.
There is a buy signal on the weekly March soybean chart for the week ending
2/7/20 if March soybeans break and close over last week's inner week high
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:
When November soybeans reach $10.45 make some more 2020 crop sales.
November 2020 soybeans reached 9.82 3/4 on 1/2/20.
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