Technical Analysis #C-LCATTLE : 2020-10-02

IFC Markets

Master Trader
Oct 31, 2012
London (Great Britain)
Recommendation for Live Cattle : Buy

Buy Stop : Above 113.33
Stop Loss : Below 109.08

Donchian ChannelNeutral
Parabolic SARBuy

Chart Analysis
IFC Markets Tech Analysis

On the daily timeframe #C-LCATTLE: Daily is rising above the 200-day moving average MA(200), which is falling. We believe the bullish momentum will continue after the price breaches above the upper Donchian boundary at 113.33. This level can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 109.08. 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 (109.08) without reaching the order (113.33) we recommend cancelling the order: the market sustains internal changes which were not taken into account.
Fundamental Analysis

US supplies of soybean, corn and wheat fell in three months ending in September 1. Will the LCATTLE continue rising?