Technical Analysis #C-LCATTLE : 2020-03-24

IFC Markets

Master Trader
Oct 31, 2012
1,938
10
84
London (Great Britain)
www.ifcmarkets.com
IndicatorValueSignal
RSIBuy
MACDNeutral
MA(200)Neutral
FractalsNeutral
Parabolic SARBuy
Bollinger BandsNeutral
Chart Analysis
IFC Markets Tech Analysis

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.

Fundamental Analysis
The US Department of Agriculture reported a reduction in cattle livestock in slaughterhouses in February compared to last year. Will LCATTLE quotes grow?