October Live Cattle With another close below the 106 speed-line support the market has left door open for a breakdown, however, I’m not looking for anything sever. Channel line/pitchfork support convergence zone comes in at 102.500-101.500. Daily momentum indicators should display convergence at this level and any hard low might snap back. Also, the December contract remains more …
Ag Commentary
The Soy complex started the shortened week on a higher note. This strength was led by the meal market today as oilshare gave back approx. 1%. The market advanced today on ideas of dryness to end the growing season. Also, potential rain may hit the delta right before harvest due to the hurricane making landfall this Wednesday. This rally may …
Full US Grain Weather Report
For the complete report, CLICK HERE. For those interested in grains, Walsh Trading hosts a FREE Weekly Grain Outlook webinar every Thursday at 3PM CST. This webinar is hosted by Sean Lusk, Director, Walsh Commercial Hedging Services. Sean held his latest Grain Outlook webinar on Thursday, August 31st. VIEW A RECORDING. Next week, Sean will host a combined Grain & Livestock …
Weekly Gold Report
Gold hit its highest level since November on Friday after a weaker-than-forecast U.S. jobs report. December futures which had already made a technical breakout to the upside earlier in the week, peaked at $1,334.50 an ounce. The Labor Department reported that non-farm payrolls rose a lower-than-expected 156,000 last month. Additionally, there were downward revisions to the previously reported jobs gains for …
CLUELESS?: OCTOBER LIVE CATTLE
OCTOBER LIVE CATTLE On the weekly and daily charts we have closed below the speed line support. Although I have believed that the recent selloff is close to a termination point it is difficult to suggest a long position with the facts being what they are. It must be stated there is strong bullish divergence in the daily …