December Live Cattle Prices extended to the upside in end of the week action finishing the week in belt -hold fashion, as described in candle stick theory, by opening on the lows and closing on the highs. The weekly range reached above the ATR readings of 4.5 to 5.2 as discussed in Thursday’s post. Today’s high also closed …
Livestock Report
Live Cattle The December Live Cattle contract took over as the lead contract on Thursday, September 21, 2017, as the volume was higher than the October contract. The session range was 116.90 high to 115.575 low, ending at 116.25, forming a Doji candle. It is above the 100 DMA (115.425) and the 200 DMA (115.475). The Doji candle indicates indecision …
Gap Fill: December Live Cattle
December Live Cattle The cattle market peaked higher today topping out at 116.900 before easing slightly to settle at 116.200. A few things of note are the fact that we have closed a weekly gap from the selloff in the third week of July at 116.700 and have fulfilled the weekly ATR (average true range) estimate …
Bulls Eye! : December Live Cattle
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 …