June live cattle futures on the Chicago Mercantile Exchange have seen prices back way off from the early-March contract high of $99.82. Prices late last week hit a fresh two-month low of 91.95 cents. A downtrend line has formed on the daily bar chart for June live cattle futures, drawn off the contract high scored […]
June live cattle futures at the Chicago Mercantile Exchange have seen a steep sell off from the recent contract high of $99.82. Prices last Friday gapped lower on the daily bar chart, hit a fresh three-week low of $94.20, and closed at the weekly low close to produce some fresh near-term technical damage. Key for […]
April live cattle futures at the Chicago Mercantile Exchange last week hit a fresh contract high of 96.20 cents a pound. Prices then backed off on some mild profit-taking pressure but have this week rebounded. This recent price action on the daily bar chart has produced a bullish flag formation. The measuring implications from this […]
Live cattle is a market I do not trade very often but after going over my weekly view of all the markets, I could not ignore the weekly chart pattern. Here, much like in the wheat trade, we have built a classic bull flag pattern while also doing a 50% fibonacci retracement, and small traders […]
