Gold and silver reversed course to end the week and the reasons why were elementary in my view. Stock indices were trading at all time highs across the board while the Dollar index futures contract looks like it could potentially be headed for a breakout to the upside. Both markets usually run inverse of gold and silver and the unrelenting …
Holy Cow: December Live Cattle
December Live Cattle The December Live Cattle market finished the session strongly as it rose to settle just off the weeks highs at 127.300. The 126.500-127.500 level was targeted in earlier reports. Longer term speed line resistance and the Fibonacci extension level convergence zone comes in overhead at 131-133. I had suspected a measurable subset correction was due …
Major Mkts- Conditions, Olive set, let’s go.
Dec Cattle- this am we had an OLS play right up at limit. If you were a pit trader and came in flat this would have been a sell at limit early and put in a buy stop back at limit up. This is a spec algo trade and we could break hard today like yesterday. Someone blew out big …
South America and Australia Grain Weather Update from WxRisk.com
For the complete report, CLICK HERE. For those interested in Grains and Livestock, every Thursday, Sean Lusk, Director Walsh Commercial Hedging Services and Ben DiCostanzo, Senior Livestock Analyst host a FREE Grain & Livestock Outlook webinar. Sean and Ben will hold their next Grain & Livestock Outlook webinar on Thursday, November 2nd. REGISTER NOW. If you cannot attend live, a …
Livestock Report
Live Cattle The December Live Cattle contract rallied on Wednesday, November 1, 2017. It rallied past resistance at 125.55, trading up just shy of the 127.15 resistance level, making the high at 126.875. It ended the session at 126.675. There is pretty good resistance from 127.15 to 128.30. Price could stall in this area and come back and test support …
Moonshine: December Live Cattle
December Live Cattle The December Live Cattle market staggered ahead to a modestly higher close today. Prices have risen slightly above targeted daily and hourly geometric lines between 126-127. These have been previously discussed. Currently the the momentum indicators are showing no signs of divergence. Structural evidence would suggest another wave higher which will unfold from a subset …
Check Point: December Live Cattle
December Live Cattle The December live Cattle market is close to a targeted extension level of roughly 126. Prices topped out today at 125.900 and a reaction off this point would not be out of the question. As of now I do not observe any momentum divergence and perhaps a minor new high will produce this. If so …
Stepping Stones: December Live Cattle
December Live Cattle One definition of “stepping stones” is an undertaking or event that helps one to make progress toward a specified goal. This I believe describes the current price path of the December Live Cattle Market. The extended upside projection zone comes in between 126-127. Today’s extreme at 123.825 has produced no sign of momentum divergence …
LIMIT UP LUMBER, BONDs meet Mr. Olive
Friday lumber was limit up. Usually we follow through to upside with certain trading floor rules that have not been around for a while. I chirp about these ahead of time. Hey Matt Rio, let’s chat? Why not, it’s good. I’m not talking about this too much because it is live but also due to my clients that must have …
Weekly Gold Report
Despite a bounce that took Gold positive for the day session Friday, December gold futures lost $8.70 for the week. Silver had a similar bounce as well today bouncing .15 cents from the daily lows to close the session at 1685.5. For the week, December silver lost .32 cents. Gold and silver had been under major pressure since Wednesday as …