EWS

Feeder Cattle - The ideally bottom for wave A seen at 130.78

CME:FC1!   FEEDER CATTLE FUTURES
In October 2014 I called the top almost to the cent (see the link below). The decline from 244.80 is finally coming to an end near 130.78.

Short term I'm looking for the final decline in red wave v of an ending diagonal and once the bottom is in place, a quick return to the origin of the ending diagonal at 169.58 should be seen, within half the time it took to build (that would amount to something like 3 months). That will however, likely be only the first part of wave B, as a continuation higher towards 187.80 and possibly even closer to 201.25 should be expected longer term.

The clear divergence seen from the RSI indicator does confirm that, we are approaching the end of wave A and wave B can start soon.

It's time to close the long term short position and shift towards a long position.

Just a final word. Remember that correction in the commodity complex often is extremely violent. Just look at Soybeans             and Soybean Meal             .
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out