#C-LCATTLE Price Forecast | Technical setup bearish for live cattle price | IFCM

Technical Analysis #C-LCATTLE : 2020-02-07

Recommendation for Live Cattle :

Sell
Strong SellSellNeutralBuyStrong Buy

Below 118.28

Sell Stop

Above 121.67

Stop Loss

Expert Avatar
Senior Analytical Expert
Articles 1554
IndicatorValueSignal
RSI Neutral
MACD Sell
Donchian Channel Sell
MA(100) Sell
Fractals Sell
Parabolic SAR Sell

Chart Analysis

IFC Markets Tech Analysis

On the daily timeframe #C-LCATTLE: D1 has breached below the 100-day moving average MA(100), which is rising. This is bearish. We believe the bearish momentum will continue as the price breaches below the lower Donchian boundary at 118.28. A pending order to sell can be placed below that level. The stop loss can be placed above 121.67. After placing the order, the stop loss is to be moved every day to the next fractal high, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level (121.67) without reaching the order (118.28), we recommend cancelling the order: the market has undergone internal changes which were not taken into account.

Fundamental Analysis

Live cattle price fell after signing of interim US-China trade deal. Will the lcattle continue falling?

Live cattle market is subject to developments in China-US trade front as most other agricultural commodities. While China committed to buying more US agricultural exports than in the period before the tariff dispute, it stipulated purchases would be based on prevailing market conditions and at market prices. The live cattle price is in downtrend which has not reversed after the signing of the phase one US-China trade deal. And recent selloff in global markets after the emergence of coronavirus infection in China didn’t change the market setting for the live cattle price.

Start trading with IFC Markets

We are ready to support you with any kind of questions, 24 hours a day.

Note: 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.