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Cattle Futures Technical Analysis - Cattle Futures Trading: 2020-12-15
Live Cattle Technical Analysis Summary
Above 114,6
Buy Stop
Below 108,6
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| MA(200) | Neutral |
| Fractals | Neutral |
| Parabolic SAR | Buy |
| Bollinger Bands | Buy |
Live Cattle Chart Analysis
Live Cattle Technical Analysis
On the daily timeframe, LCATTLE: D1 has formed a triangle pattern, which should be broken up before opening a position. A number of technical analysis indicators formed signals for further growth. We do not exclude a bullish movement if LCATTLE rises above its last upper fractal and upper Bollinger band: 114.6. This level can be used as an entry point. We can place a stop loss below the Parabolic signal, the lower Bollinger band, 200-day moving average line and the last lower fractal: 108.6. After opening a pending order, we move the stop loss to the next fractal low following the Bollinger and Parabolic signals. 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 place a stop loss, moving it in the direction of the bias. If the price meets the stop loss (108.6) without activating the order (114.6), it is recommended to delete the order: the market sustains internal changes that have not been taken into account.
Fundamental Analysis of Commodities - Live Cattle
Rising prices of oats and other grains may increase the animal feed prices. Will the LCATTLE quotes continue to grow?
LCATTLE is now traded 11% below its early 2020 level. Since the beginning of the year, oats have already risen in price by 17.5%, corn - by 9.5%. The increase in the cost of beef is constrained by a slight decrease in cattle slaughter. The USDA believes it is 3.4% below its last year's level. However, this is most likely due to weak domestic markets, as US beef exports grew by 5.5% in November.
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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.
