fbLive Cattle Bias Is Still Bullish | IFCM

Live Cattle Bias Is Still Bullish

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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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