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FCATTLE Technical Analysis - FCATTLE Trading: 2020-08-25
Feeder Cattle Technical Analysis Summary
Below 142
Sell Stop
Above 149
Stop Loss
| Indicator | Signal |
| RSI | Sell |
| MACD | Sell |
| MA(200) | Neutral |
| Fractals | Sell |
| Parabolic SAR | Sell |
| Bollinger Bands | Neutral |
Feeder Cattle Chart Analysis
Feeder Cattle Technical Analysis
On the daily timeframe, Fcattle: D1 is correcting down from its 10-month high. It got out of the growing trend. A number of technical analysis indicators generated signals for further decline. We do not rule out a bearish move if Fcattle falls below its last minimum: 142. This level can be used as an entry point. We can set a stop loss above the last upper fractal and Parabolic signal: 149. After opening a pending order, we move the stop loss following the Bollinger and Parabolic signals to the next fractal maximum. Thus, we change the potential profit/loss ratio in our favor. After the transaction, the most risk-averse traders can switch to the four-hour chart and set a stop loss, moving it in the direction of the trend. If the price meets the stop loss (149) without activating the order (142), it is recommended to delete the order: some internal changes in the market have not been taken into account.
Fundamental Analysis of Commodities - Feeder Cattle
The United States Department of Agriculture (USDA) published its monthly Cattle on Feed report. Will Fcattle quotations go down?
The USDA report notes that the number of cattle placed in feedlots during July 2020 increased by 11% compared to July 2019 and reached 1.89 million. At the same time, the total livestock, which on August 1, 2020, was in feedlots, increased by 1% compared to last year and amounted to 11.3 million heads. This is the highest amount since the USDA started publishing statistics in 1996. It can be assumed that the American beef supply has practically recovered after the quarantine due to the coronavirus. At the same time, according to the USDA, since the beginning of 2020, the cattle slaughter is 1.06 million less than last year as of the current date. In theory, this may indicate that demand has not fully recovered yet.
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This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.
