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 …
Bull Rush?: December Live Cattle
December Live Cattle The cattle played out in a close fashion to what we had anticipated with an am dip to support at roughly 110.800 and a subsequent recovery above the 112.300 mark. Now what? is the question. The market settled right below the major resistance channel which came in today at 113. Should the market be able …
Daily Gold Report
Gold dipped on Wednesday, erasing earlier slim gains as the dollar index moved into positive territory, though a retreat in global stocks after Tuesday’s record high kept the metal hemmed within a narrow range. For the session December gold futures fell $4.70 to close at 1328.0 and below our first support level for the week. With today’s close, I potentially …
Livestock Levels
Live Cattle The October Live Cattle contract broke down and tested support on Tuesday, September 12, 2017. It fell below the Monday low and traded down to a low at 106.00, just below support (106.20). A trade below here on Wednesday could see the 104.875 support level tested. Support then comes in at 103.00. A breakout above the 107.95 high …
Fenced In: December Live Cattle
December Live Cattle As suggested in yesterday’s post the December live cattle contract had a difficult time breaching the overhead channel line which set the high in Monday’s session and came in lower today at 113.300. In today’s action the market posted a high at 113.025 and backed off to close just off the lows of 111.400 at …
Livestock Levels
Live Cattle The October Live Cattle contract stalled on Monday, September 11, 2017. It traded within Friday’s range forming an inside candle. A breakout above the 107.95 high could see price test the 108.675 resistance level. Continued strength could see movement towards the 110.80 resistance level. A failure from the 106.825 low could see price test support at 106.20 and …