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Cattle Futures Technical Analysis - Cattle Futures Trading: 2020-02-07
Live Cattle Technical Analysis Summary
Below 118.28
Sell Stop
Above 121.67
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| Donchian Channel | Sell |
| MA(100) | Sell |
| Fractals | Sell |
| Parabolic SAR | Sell |
Live Cattle Chart Analysis
Live Cattle Technical Analysis
On the daily timeframe #C-LCATTLE: D1 has breached below the 100-day moving average MA(100), which is rising. This is bearish. We believe the bearish momentum will continue as the price breaches below the lower Donchian boundary at 118.28. A pending order to sell can be placed below that level. The stop loss can be placed above 121.67. After placing the order, the stop loss is to be moved every day to the next fractal high, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level (121.67) without reaching the order (118.28), we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of Commodities - Live Cattle
Live cattle price fell after signing of interim US-China trade deal. Will the lcattle continue falling?
Live cattle market is subject to developments in China-US trade front as most other agricultural commodities. While China committed to buying more US agricultural exports than in the period before the tariff dispute, it stipulated purchases would be based on prevailing market conditions and at market prices. The live cattle price is in downtrend which has not reversed after the signing of the phase one US-China trade deal. And recent selloff in global markets after the emergence of coronavirus infection in China didn’t change the market setting for the live cattle price.
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