ABILENE — Go to any cotton gin, feed mill or livestock auction and you will likely find a well-used Data Transmission Network (DTN) computer terminal displaying everything from the latest weather information to current commodity market news. But where does all that information come from, and what is it good for?
Learning how to read, interpret and understand all of that technical information is the goal of “Reading the Charts,” an Oct. 5 technical marketing seminar designed for agricultural producers and agribusiness people. The seminar will run from 9 a.m. to 3 p.m. at the Taylor County Extension Center here. The center is on the southeast corner of the West Texas Fairgrounds.
Texas Agricultural Extension Service offices in Taylor and Haskell counties are sponsoring the futures seminar.
“Alan Brugler, senior analyst with DTN’s AgDaily News Division, will share his expertise on the right way to read technical price charts,” said Jackie Smith, Extension economist based in Lubbock and program coordinator. “Brugler is the person who provides daily charting information for DTN subscribers.
“He will introduce and demonstrate basic technical analysis tools that producers and others can use in effective price risk management programs. The day-long program is geared for marketing club members and those who want to learn how to read and use futures market price charts to help anticipate price movements.”
Brugler will explain how to use trend lines, moving price averages, support lines, resistance lines, gaps, corrections and other charting tools รป tools that producers and traders can employ when deciding when to “pull the trigger” on any futures market pricing strategy, the economist added.
“Many producers believe supply and demand factors and fundamental analyses are the driving influences behind commodity price movements. That’s true, but there are other factors involved, too,” Smith said. “In order to gain a more complete understanding of the futures market, you have to know how to read and interpret the information posted in price charts and in technical analyses.
“A lot of commodities trading is done solely on the basis of chart information, so it is really useful to understand the basics of charting. Brugler will also discuss terminology and concepts that will help producers better read and understand reports from market analysts.”
Pre-registration prior to Oct. 1 costs $10 per person; registration at the door will cost $20. The seminar registration fee includes a catered lunch.
For more information on the “Reading the Charts” seminar, call Haskell County Extension agent Brandon Anderson at (940) 864-2564; Taylor County Extension agent Gary Bomar at (915) 672-6048; or Jackie Smith at (806) 746-6101.
-30-