December live Cattle For those off you that have been following along you would have read yesterday’s posting titled ” And the Cow Jumped Over the Moon” which pointed to the potential bullish setup as the December contract had closed above the major channel line resistance. In today’s action we witness this proposed scenario play out as the …
Livestock Report
Live Cattle The October Live Cattle contract continues to consolidate near the 108.675 resistance level. It formed a spinning top candlestick is trading above the 8 DMA (107.475). It was a quiet day on Tuesday, September 19, 2017. The inability to punch through resistance and breakdown below support over the past few sessions has created a potential time bomb. A …
And the Cow Jumped Over the Moon?: December Live Cattle
December Live Cattle With a second close above the channel resistance line which convergences with the 50 day moving average at +/-112.800 is the cattle market now poised to make definitive (c) wave advance that we have been looking for since the lows established in mid-August. One must keep an eye on the front month October which to …
Todays Market movers
A few charts, some here I am pointing out the formations, not prices. The levels to watch are in the right hand column. If you need a story email or call me. SXSX below getting crushed after the chart print. GOLD- a mere $50 fast break off the pink macro conditional trendline. Look how the gold played around the …
OILSHARE- Lock/Load 3535 Macro turn?
Ok speculators and possibly oilseed users, I have talked about this momentum ridden long bean oil short soy-meal spread and yesterday it hit a few of my macro trendlines at which interesting stuff happens immediately on impact. How else do you quantify a bid? I like buying this spread but disclaimer is only at my levels to eliminate slippage. Here …
Daily Gold Report
December gold and silver probed lower throughout the session on Monday. December gold lost $14.40 or just over one percent to close at $1310.8. Silver’s drop was more aggressive as it lost over .54 cents (2.6 percent) to close at 1715.5. The spike to new yearly highs on September 8th was accompanied by multi-year lows in the Dollar. As the …
Third Time a Charm? December Live Cattle
December Live Cattle The market posted a low today at 111.375 just a few ticks below Thursday extreme of 111.425 before rising to settle on the upper end of the day’s range at 112.825. This marks the third time prices have gone out right on the dominant downward resistance channel. The week ends pretty much unchanged and in …
Livestock Report
Live Cattle The October Live Cattle contract rallied at the open and tested the 108.675 resistance level on Thursday, September 14, 2017. It reached a high at 108.90 before failing and trading down to a low at 106.625 and then ending the day at 107.05. The breakdown approached support at the short-term moving averages (the 8 DMA (106.475), the 13 …
Stunbolt: December Live Cattle
December Live Cattle Well it looked favorable in early action as the December live cattle contract opened higher at 113.050 and pressed up above the channel line to post a high 113.925 before getting rudely turned back. Prices subsequently get rejected through open turning negative on the session as they retreat below the dominant channel resistance. The contract …
Livestock Levels
Live Cattle The October Live Cattle contract broke down at the open and tested support (106.20) on Wednesday, September 13, 2017. It traded down to a low at 105.40, consolidated just above it and started to rally at the time of the fedcattleexchange.com auction. Price strengthened throughout the day, reaching the high (107.75) at the end of the session. A …