Live Cattle Bias Is Still Bearish

The #C-LCATTLE price forecast in our February 7, 2020 technical analysis was bearish.

New data after #C-LCATTLE,Daily February 7, 2020 technical analysis still indicate bearish bias.

• The US beef production forecast was raised from the previous month.
• US beef export forecast was lowered slightly.
• Price is falling below 100-day moving average MA(100)

Here is what indicators show as of February 12, 2020:

• The Parabolic Indicator gives a bearish signal.
• TheDonchian channel indicates downtrend: it is widening down.
• The MACD indicator gives a bearish signal.
• The RSI oscillator has reached the threshold of the oversold zone.
• The Fractals give bearish signal.
• The MA(100) Indicator gives a bearish signal.

So the bearish forecast still stands for the #C-LCATTLE,Daily.

According to World Agricultural Supply and Demand Estimates report of 02-11-2020.