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FCATTLE Technical Analysis - FCATTLE Trading: 2020-08-07
Feeder Cattle Technical Analysis Summary
Above 146.95
Buy Stop
Below 139.15
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| Donchian Channel | Buy |
| MA(200) | Buy |
| Fractals | Buy |
| Parabolic SAR | Buy |
Feeder Cattle Chart Analysis
Feeder Cattle Technical Analysis
On the daily timeframe #C-FCATTLE: D1 is rising above the 200-day moving average MA(200), which is flat. We believe the bullish momentum will continue after the price breaches above the upper Donchian boundary at 146.95. This level can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 139.15. After placing the pending order the stop loss is to be moved every day to the next fractal low, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop-loss level (139.15) without reaching the order (146.95) we recommend cancelling the order: the market sustains internal changes which were not taken into account.
Fundamental Analysis of Commodities - Feeder Cattle
USDA reported a surge in US beef exports. Will the FCATTLE continue rising?
Last week US Department of Agriculture (USDA) reported export sales of US 2020 beef in the week ended July 23 at 29,500 tons. The sales volume was up 81% from the prior four-week average and a marketing year high. Higher demand for beef as evidenced by exports report is bullish for the FCATTLE. At the same time today USDA will publish data on exports for the week ended July 30, and data showing a reverse trend will be a downside risk for the feeder cattle price.
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