Feeder Cattle Technical Analysis Summary
Above 179
Buy Stop
Below 170,5
Stop Loss
| Indicator | Signal |
|---|---|
| RSI | Buy |
| MACD | Buy |
| MA(200) | Neutral |
| Fractals | Buy |
| Parabolic SAR | Buy |
| Bollinger Bands | Neutral |
Feeder Cattle Chart Analysis
Feeder Cattle Technical Analysis
On the daily timeframe, FCATTLE: D1 went up from the rising channel. Prior to that, he was unable to break down the 200-day moving average line. A number of technical analysis indicators formed signals for further growth. We do not rule out a bullish movement if FCATTLE: D1 rises above its most recent high of 179. This level can be used as an entry point. Initial risk cap is possible below the Parabolic signal, 200-day moving average line, lower Bollinger band and the last 2 lower fractals: 170.5. After opening a pending order, we move the stop following the Bollinger and Parabolic signals to the next fractal low. Thus, we change the potential profit/loss ratio in our favor. The most cautious traders, after making a trade, can switch to a four-hour chart and set a stop loss, moving it in the direction of movement. If the price overcomes the stop level (170.5) without activating the order (179), it is recommended to delete the order: there are internal changes in the market that were not taken into account.
Fundamental Analysis of Commodities - Feeder Cattle
In the US, beef production has declined slightly. Will FCATTLE quotes go up?
According to the USDA, beef production in September 2022 decreased by 5% compared to August 2022, to 2,391 million pounds. Compared to September 2021, beef production increased by 4%. Theoretically, such an increase could cause a reduction in the number of cattle in American feedlots in September. Information about this will become available on October 24 and may affect quotes. In addition, on October 24, China will release data on GDP for the 3rd quarter and on foreign trade for September. China holds over 30% of the world’s beef imports.