October Live Cattle Once again the cattle market closed right around speed line support at 106. The contract did post a new low to 104.200 after making a early high at 107.475. It does appear that the most recent decline from the 109.750 seen on the 28th represents a five wave structure and could be of a terminating …
Livestock Report
Live Cattle The October Live Cattle contract rallied to the high (107.475) of the day in the first 10 minutes of trading on Thursday, August 31, 2017. It tested and failed to overtake the 107.60 resistance level and reversed course and broke down to the low (104.20) of the day by mid-morning. This is below the 104.875 support level, making …
Livestock Report
Live Cattle The October Live Cattle contract broke down and made another test of the 104.875 support level on Wednesday, August 30, 2017. It made the session low at 104.95 just above the support level. The October contract grinded higher off the low and ended the trading session at 106.225, just above the 106.20 resistance level. The session resulted in …
Daily Gold Report
Gold steadied on Wednesday, as a stronger dollar pushed the metal off Tuesday’s 9½-month high, but the precious metal remained above $1,300 on renewed tensions between Washington and North Korea. The greenback rose 0.6 percent versus a currency basket following stronger-than-expected private payrolls data. The move marked the greenback’s recovery from a 2½-year low hit Tuesday after North Korea fired a …
Coin Flip: October Live Cattle
October Live Cattle I really thought the picture would get a lot clearer after today’s session. Instead, however, the cattle market fails to impress or disappoint as today’s action leaves the October contract basically unchanged. Prices do manage to post a modest shadow low at 104.950 and climb back above the previously mentioned 106 level to fend …
Cattle Crossing: October Live Cattle
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. …