Cattle Futures Technical Analysis | Cattle Futures Trading: 2021-01-28 | IFCM
IFC Markets Online CFD Broker

Cattle Futures Technical Analysis - Cattle Futures Trading: 2021-01-28

Live Cattle Technical Analysis Summary

Accelerometer arrow
Strong SellSellNeutralBuyStrong Buy

Above 122.64

Buy Stop

Below 114.55

Stop Loss

Ara Zohrabian
Senior Analytical Expert
Articles 2452
IndicatorSignal
RSI Sell
MACD Buy
Donchian Channel Neutral
MA(200) Buy
Fractals Buy
Parabolic SAR Buy

Live Cattle Chart Analysis

Live Cattle Chart Analysis

Live Cattle Technical Analysis

The LCATTLE technical analysis of the price chart on the daily timeframe shows #C-LCATTLE,Daily is rallying above the 200-day moving average MA(200), which is rising itself. We believe the bullish momentum will continue after the price breaches above the upper Donchian boundary at 122.64. This level can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 114.55. 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 (114.55) without reaching the order (122.64) we recommend cancelling the order: the market sustains internal changes which were not taken into account.

Fundamental Analysis of Commodities - Live Cattle

USDA forecast lower beef production for 2021. Will the LCATTLE continue rising?

The US Department of Agriculture revised down fourth-quarter 2020 US beef production estimate on lower-than-expected beef cattle slaughter, which was partly offset by higher-than-expected cattle carcass weights. At the same time beef production for 2021 was forecast lower than last month on fewer fed cattle supplies expected. Lower beef production expectations are bullish for the live cattle price.

IFCM Trading Academy - New era in Forex education
Pass Your Course:
  • Get Certificate
trading academy

The best trading conditions and high-level services for our clients

We are ready to assist you on any issue 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.

Close support
Call to Skype Call to WhatsApp Call to telegram Call Back Call to messenger