Live Cattle Bias Is Still Bullish

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    2020/03/30
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The #C-LCATTLE price forecast in our March 24, 2020 technical analysis was bullish.

Market developments after #C-LCATTLE,D1 March 24, 2020 technical analysis still indicate bullish bias.

  • #C-LCATTLE,D1 continued rising: it closed up 2% on March 24, opened with a gap up today.
  • Wholesale beef prices are rising after reports Tyson Foods would pay producers a one-time premium.
  • Here is what indicators show as of March 25, 2020:

    • The Parabolic Indicator gives a bullish signal.
    • The Bollinger Bands give a buy signal.
    • The MACD indicator gives a bullish signal.
    • The RSI oscillator gives a bullish signal.
    • The Fractals give a bullish signal.
    • The MA(200) Indicator gives a neutral signal.

    So the forecast is bullish for the #C-LCATTLE, H4.

    OrderBUY
    Buy stop Above 98.80
    Stop lossBelow 90.14

    Reuters

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