- Analytics
- Technical Analysis
Cattle Futures Technical Analysis - Cattle Futures Trading: 2020-10-02
Live Cattle Technical Analysis Summary
Above 113.33
Buy Stop
Below 109.08
Stop Loss
Indicator | Signal |
RSI | Neutral |
MACD | Buy |
Donchian Channel | Neutral |
MA(200) | Buy |
Fractals | Buy |
Parabolic SAR | Buy |
Live Cattle Chart Analysis
Live Cattle Technical Analysis
On the daily timeframe #C-LCATTLE: Daily is rising above the 200-day moving average MA(200), which is falling. We believe the bullish momentum will continue after the price breaches above the upper Donchian boundary at 113.33. This level can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 109.08. After placing the pending order the stop loss is to be moved every day to the next fractal low, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop-loss level (109.08) without reaching the order (113.33) we recommend cancelling the order: the market sustains internal changes which were not taken into account.
Fundamental Analysis of Commodities - Live Cattle
US supplies of soybean, corn and wheat fell in three months ending in September 1. Will the LCATTLE continue rising?
US Department of Agriculture quarterly report of September 30 showed domestic supplies of soybean, corn and wheat fell in the three months ending in September 1 more than expected. As a result of the report prices of futures on soybeans, corn and wheat rose more than 3%. Feed grain prices are a primary input in producing animal protein. Lower feed grain supplies and higher feed prices are bullish for LCATTLE.
Note:
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.