Live Cattle Bias Is Still Bearish

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The #C-LCATTLE price forecast in our February 7, 2020 technical analysis was bearish.

New data after #C-LCATTLE,Daily February 7, 2020 technical analysis still indicate bearish bias.

  • The US beef production forecast was raised from the previous month.
  • US beef export forecast was lowered slightly.
  • Price is falling below 100-day moving average MA(100)
  • Here is what indicators show as of February 12, 2020:

    • The Parabolic Indicator gives a bearish signal.
    • TheDonchian channel indicates downtrend: it is widening down.
    • The MACD indicator gives a bearish signal.
    • The RSI oscillator has reached the threshold of the oversold zone.
    • The Fractals give bearish signal.
    • The MA(100) Indicator gives a bearish signal.

    So the bearish forecast still stands for the #C-LCATTLE,Daily.

    OrderSELL
    Sell stop Below 116.33
    Stop lossAbove 119.33

    According to World Agricultural Supply and Demand Estimates report of 02-11-2020.

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