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Cattle Futures Technical Analysis - Cattle Futures Trading: 2022-01-26
Live Cattle Technical Analysis Summary
Below 138
Sell Stop
Above 143,5
Stop Loss
| Indicator | Signal |
| RSI | Sell |
| MACD | Sell |
| MA(200) | Neutral |
| Fractals | Neutral |
| Parabolic SAR | Sell |
| Bollinger Bands | Neutral |
Live Cattle Chart Analysis
Live Cattle Technical Analysis
On the daily timeframe, LCATTLE: D1 approached the support line of the rising channel. It must be broken down before opening a position. A number of technical analysis indicators formed signals for further decline. We do not rule out a bearish movement if LCATTLE: D1 falls below the last down fractal and the lower Bollinger band: 138. This level can be used as an entry point. Initial risk limitation may be higher than the maximum since October 2015, the last 2 upper fractals, the upper Bollinger band and the Parabolic signal: 143.5. After opening a pending order, we move the stop following the Bollinger and Parabolic signals to the next fractal maximum. Thus, we change the potential profit/loss ratio in our favor. The most cautious traders after making a trade can switch to a four-hour chart and set a stop loss, moving it in the direction of movement. If the price overcomes the stop level (143.5) without activating the order (138), it is recommended to delete the order: the market is undergoing internal changes that were not taken into account.
Fundamental Analysis of Commodities - Live Cattle
In the United States, the number of cattle in feedlots has increased. Will the LCATTLE quotes continue to decline?
According to USDA, the number of cattle and calves on feed as of January 1, 2022 in the United States amounted to 12.04 million, which is 1% more than last year. In December 2021, 1.96 million head of cattle were prepared for slaughter (Placements) in the United States, which is 6% more than December 2020. Recall that in November 2021, 1.971 million heads of cattle were prepared for slaughter. This is 4% more than November 2020. The amount of frozen beef in the US in December 2021 increased by 3% (by weight) compared to November 2021.
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