Gold and silver markets today traded slightly lower for the session as the market awaited the 1 pm FOMC minutes announcement. December gold settled 1288.9 down $4.90 while silver settled at 17.13 down 3.5 cents. The minutes from the latest FOMC meeting saw members generally agreeing that a quarter point December interest rate hike is in the cards. There was not …
Livestock Levels
Live Cattle The December Live Cattle contract made a new high for the current up move on Tuesday, October 10, 2017, trading up to 119.10, just below the 119.15 resistance level. Trade was led by the October contract, which nearly went up limit; missing by .375. If the December contract fails to rise above the 119.15 resistance level, some consolidation …
The Fifth Dimension: December Live Cattle
December Live Cattle The cattle continued its climb today violating the 117.725 high which I had labeled as the 3rd wave extreme. Our assent from the 4th wave low of 112.900 has now reached the 1 x 1 projected measurement (wave 5 equal wave 1) when it rose to the upper 118’s (5.800 + 112.900) peaking at 119.100. Being in the …
Goal Line Stand?: December Live cattle
December Live Cattle In today’s price action we saw the market rise within reach of the previous 117.725 high that I have currently labeled as a wave 3 extreme. It is unclear to me where we are in the subset structure of the advance from the 112.900 low. I believe, as I have stated, that we are in …
Livestock Levels
Live Cattle The December Live Cattle contract made a new high for the current up move on Monday, October 9, 2017, trading up to 117.575, in quiet holiday trading. It couldn’t hold onto the high and broke down and tested the 116.55 support level, making the session low at 116.475. It formed a Doji candlestick as the market ended the …
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Monday Ag comment
Soybeans and corn- No good comment, 9.72 as we drift around into harvest. SX 9.84 and 9.89.25 if looking for sell levels. May beans hit TL resist at today’s highs. This is long term off the tops. Corn is perpetually at 3.49-ish. Rumblings on Brazil weather but I do not know if true. Bean oil- OLB 32.32 hit and …
Weekly Gold Report
Gold and Silver finished the week mixed as December gold settled 1274.9 down $9.90, while December silver settled at 16.79 up 11.5 cents for the week. Gold slid to two-month lows on Friday before bouncing back to post modest gains for the day. An upbeat reading of the U.S. unemployment rate and wage growth last month supported expectations for a further …
Fourth and Goal: December Live cattle
December Live Cattle Currently I contend that the lows seen on September 22nd marked a fourth wave extreme of an five wave rally which commence at roughly 106.500. If this were the case then a we are witnessing a final fifth wave advance of the sequence which should attack and more than likely extend through the highs of …
Livestock Levels
Live Cattle The December Live Cattle contract found support on a test of the 8 DMA (114.775) making the low at 114.65 on Thursday, October 5. 2017. It grinded higher from the low and made the session high at the end of the trading session, reaching 116.325, just below the 116.55 resistance level. It ended up above the 200 DMA …