Cattle Futures Technical Analysis | Cattle Futures Trading: 2021-03-04 | IFCM Hong Kong
IFC Markets Online CFD Broker

Cattle Futures Technical Analysis - Cattle Futures Trading: 2021-03-04

Live Cattle Technical Analysis Summary

Accelerometer arrow
Strong SellSellNeutralBuyStrong Buy

Below 117.49

Sell Stop

Above 123.52

Stop Loss

Ara Zohrabian
Senior Analytical Expert
Articles 2451
IndicatorSignal
RSI Neutral
MACD Sell
Donchian Channel Sell
MA(200) Buy
Fractals Neutral
Parabolic SAR Sell

Live Cattle Chart Analysis

Live Cattle Chart Analysis

Live Cattle Technical Analysis

The #C-LCATTLE technical analysis of the price chart in daily timeframe shows #C-LCATTLE,Daily has fallen below the support line above the 200-day moving average MA(200), which is rising itself. We believe the bearish momentum will continue as the price breaches below 117.49. A pending order to sell can be placed below that level. The stop loss can be placed above 123.52. 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 without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.

Fundamental Analysis of Commodities - Live Cattle

US cattle slaughter volume rose last week. Will the LCATTLE continue falling?

Last week US cattle slaughter volume rose to 666,000 heads, approaching a high for this year to date, exceeding last year weekly average level by 38,000. The previous two weeks slaughter volumes were lower at 552,000 and 608,000 heads, creating a dip in supply. Higher slaughter volumes raise supply, which is bearish for live cattle price. At the same time analysts estimate meat packers could pay up to $144 per 100 lb without losing money, assuming a 1300 lb weight average for both steers and heifers. Higher demand from meat packers is an upside risk for 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