October Live Cattle The October live cattle market turned south today and managed to hold up right at the previously defined breaking point of 106. This level represents the angled speed support line which has been holding this market together. In order to stave off further losses the market will have to rebound from here. A hold …
Livestock Report
Live Cattle The October Live Cattle contract rallied to trendline resistance on Monday, August 28, 2017, trading up to 109.75, just below the trendline at 109.775. It couldn’t sustain the rally and pulled back below the 21 DMA (109.05) and the 108.675 support level, ending the day at 108.55. It formed a shooting star candle for the second day in …
More Cow Bell? October Live Cattle
October Live Cattle It appears that the cattle market has established an impulsive structured advance (5 wave) stemming from the lows seen last week. What this means in wave theory is that it is an early indication of a lead subset wave (i) which should give way to further advancements. The pullback in today’s session from the early …
Weekly Gold Report
Gold and Silver finished the week mixed with December gold gaining $6.30 for the week to close at 1297.9. Front month September silver gave back just 4 cents to close at 1704.5. Weekly highs and lows were both scored during Friday’s session as traders awaited Janet Yellen’s speech Friday morning. Without getting into specifics the speech was seen as dovish …
Livestock Report
Live Cattle The October Live Cattle contract made a new low for the down move on Thursday, August 24, 2017, trading down to 104.625, just below the August 18th low of 104.75. It wouldn’t remain down there for after a 3 hour consolidation period, the October contract staged a late session surge to test the 13 DMA (107.30) once again. …
Decision Time: October Live Cattle
October Live Cattle Tomorrow’s trading session should point us in the right director concerning the next move in the cattle market. We are currently trading right at a major support level and in today’s action we posted a diverging low on the support channel line. Structural evidence still suggest that we are close to the termination point of …
Livestock Report
Live Cattle The October Live Cattle contract reversed course on Wednesday, August 23, 2017, as the declining 13 DMA (107.625) provided resistance for the second day in a row. The session high (107.90) poked above the moving average and then Live Cattle broke down and traded down to test support at 106.00. It made its low at 105.775 and ended …
Daily Gold Report
Gold futures held steady today as equities weakened and the Dollar gave back all of the previous days gains. December gold gained $3.70 to close the session at 1294.7, while September silver gained 6.5 cents to close at 1704.5. There seems to be a small pause in the market ahead of the annual central bankers meeting held in Jackson Hole, Wyoming, …
Hey…Whoa Cowboy: October Live Cattle
October Live Cattle Yesterday I posted a recommendation to purchase upside calls in the cattle market. However, the October contract turned south and closed below the speed-line support level which puts the whole setup on hold. The divergence reading are still in place on multiple time frame charts and if we stumble to another new low they …
Livestock Report
Live Cattle The October Live Cattle contract rallied on Tuesday, August 22, 2017, breaking out above Monday’s inside candle and trading to resistance at the 13 DMA (108.225). The high of the day was 108.325 and the market pulled back from here, ending the session at 107.65. Resistance remains at the 13 DMA and then 108.675. A rally above the …