Recommendation for Live Cattle : Buy
Buy Stop : Above 98.78
Stop Loss : Below 94.06
| Indicator | Value | Signal |
|---|---|---|
| RSI | Neutral | |
| MACD | Neutral | |
| Donchian Channel | Neutral | |
| MA(200) | Sell | |
| Fractals | Buy | |
| Parabolic SAR | Buy |
Chart Analysis
On the daily timeframe #C-LCATTLE: D1 is retracing toward the 200-day moving average MA(200), which has leveled off. We believe the bullish momentum will continue after the price breaches above the upper Donchian boundary at 98.78. This level can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 94.06. After placing the pending order the stop loss is to be moved every day to the next fractal low, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop-loss level (94.06) without reaching the order (98.78) we recommend cancelling the order: the market sustains internal changes that were not taken into account.
Fundamental Analysis
USDA reported a drop in frozen US beef inventory. Will the lcattle resume rising?