NORTH AMERICAN AG WEEKLY WHEAT UPDATE 2/3/20

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 March Chicago wheat on
the weekly chart the week ending 10/11/19 at $5.10 1/2 with current trend
generated stop at $5.45 1/4 (2/7/20).

Friday, January 31, 2020 March Chicago wheat on the weekly chart settled the week
down 18 1/4 cents at $5.53 1/2.

The weekly trend is DOWN with the computer going short March Minneapolis wheat on
the weekly chart the week ending 1/31/20 at $5.42 1/4 with current trend
generated stop at $5.67 3/4 (2/7/20).

Friday, January 31, 2020 March Minneapolis wheat on the weekly chart settled the
week down 13 3/4 cents at $5.33 3/4.

HARMONIC GANN WHEEL SUPPORT AND RESISTANCE:

Resistance for March Chicago wheat measured from the 9/3/19 low $4.57 3/4:
360 cl = $5.47; 450 cl = $5.80; 540 = $5.95; 630 = $6.10; 720 cl = $6.45;
720 cl + 180 cl = $6.96 1/2.

$5.92 1/2 is the high posted on 1/22/120.

Support for December Chicago wheat measured from the 1/22/20 high $5.92 1/2:
90 cou = $5.69; 120 cou = $5.62 1/2; 144 cou $5.56 1/2.

$5.50 3/4 is the week ending 1/31/20 inner week low posted by March Chicago wheat
on 1/30/20.

HARMONIC GANN WHEEL CYCLE ANALYSIS:

On the March Chicago wheat chart measuring from the 9/03/19 low $4.57 3/4
144 degrees in time was due 1/25/20. The midpoint in price was $6.01 1/2.
On 1/22/20 the inner month high was posted at $5.92 1/2.

WEEKLY CYCLE ANALYSIS:

On the December Chicago wheat chart using the 12/2/16 low $3.69 a cycle of 144
weeks was set to expire the week of 9/6/19 and it marked a cycle low at $4.50 1/2.
(the clue to this cycle of 144 weeks also marked a cycle low at $4.42 the week
of 5/10/19.)

On the March Chicago wheat chart starting a 144 week cycle from the 1/19/18 low
$4.13 the doucle clue cycle is due the week of 2/11/20 and the clue cycle is
due the week of 6/12/20.

PLANETARY CYCLES:
On the March Chicago wheat weekly chart support is at Uranus crossing at
$5.01 and resistanace is at Mars crossing at $7.63.

March Chicago wheat was riding the Sun-Earth cycle upward now under it.

WEEKLY REVERSAL PATTERNS:

There is a buy signal on the weekly March Chicago wheat chart for the week
ending 2/7/20 if March Chicao wheat breaks and close over last week's inner week
high $5.76 1/2.

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.

So far in 2020 July Chicago wheat has reached $5.71 1/2 on 1/2/20.

$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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