On the daily timeframe, LCATTLE: D1 exceeded the resistance line of the short-term downtrend. It is trying to correct upward from its minimum since February 2010. A number of technical analysis indicators formed signals for a further increase. We do not exclude bullish movement if LCATTLE rises above its last upper fractal: 96. This level can be used as an entry point. The stop loss is possible below the Parabolic signal and the last lower fractal: 86. After opening a pending order, the stop loss should be moved following the Bollinger and Parabolic signals to the next fractal minimum. Thus, we change the potential profit / loss ratio in our favor. After the transaction, the most risk-averse traders can switch to a four-hour chart and set a stop loss, moving it in the direction of the trend. If the price overcomes the stop level (86) without activating the order (96), it is recommended to delete the order: some internal changes in the market weren’t taken into account.
The US Department of Agriculture reported a reduction in cattle livestock in slaughterhouses in February compared to last year. Will LCATTLE quotes grow?