Feeder Cattle is coming off a strong Higher Low rebound early this month with 1D already on strong bullish technical action (RSI = 60.454, MACD = 0.850, Highs/Lows = 3.0514). Since this bullish sequence started on a strong August rebound on the 128.800 1W Support, it is more likely to see an extension towards the 161.000 1W Resistance.
A potential 1D Golden Cross...
GF is trading on a 1W Ascending Triangle that is near the 139.225 Support and Higher Low zone (RSI = 46.649, MACD = -0.700, Highs/Lows = 0.0000). This creates ideal conditions for a long term buy towards 159.500.
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Considering the inclinated amount of oscillation over the last few months, there is implication to acknowledge the viability of generating sparatic movement towards either a bearish trend or bullish direction. (Patience is Key) Entry Point at Either 162.025 or 128.450.
Not Investment Advice. For Educational and Analytical Purposes Only. (Be Aware and Stick To...
These are the FUTURE dates for GF1! with the highest probability for experiencing a price
swing high or low. Apply your own indicator(s) to determine the price swing direction.
The Djinn Predictive Indicator is for sale. Purchase includes Monthly, Weekly, Daily, 4 hour, 1 hour, and 15 minute prediction equations. Training and unlimited follow up...
Feeder Cattle (GF1!) is trading within a long term 1W Channel Up (RSI = 63.368, B/BP = 10.8420) on a very stable pace setup (MACD = 2.490, Highs/Lows = 3.4700) that allows us for a better pattern recognition. If those recurrences are valid, the GF should seek a Higher Low near 155.000 before making a Higher High near 164.000 (target).
Feeder Cattle is trading within a Channel Down on 1D (MACD = -0.360, Highs/Lows = -0.0614, B/BP = -1.7440). The neutral RSI = 45.095 suggests that it is coming off a recent Lower High, which as seen on the chart was at 151.500. We have opened short and our TP is 146.900 and 144.975 in extension (we will update if needed to pursuit the extension).
Based on historical charts that are not completely provided by TV, Feeder has completed a 5 wave cycle and is correcting that cycle. Currently in the 4 of the C of the B of the ABC down. You can see I have put in the key points for the missing data. I also provided a snap shot of the full historical chart.https://im4.ezgif.com/tmp/ezgif-4-1c1e6b93bb.webp
1) Weekly on a strong up trend
2) Daily is on a declining up trend
1) RSI is above 50 (average gain > average loss) ,but this is declining
2) Negative momentum
Wait for :
1) a positive RSI above 50 ( this means average gain> average loss and increasing)
2) Prices are above the cloud ( this shows a strong Bullish short-term trend)...
Feeder Cattle (GF1!) hit a major 1W Resistance (149.75) and should reverse to test the 140.950 support. There is one last Resistance it may test however before falling, which is located at 151.925. We short with TP = 142.150.
US Dept of Agriculture will release Feeder Cattle monthly data at 2pm Chicago time. 3pm NY time
There was a large drop yesterday due to Live Cattle news Note also that Live Cattle (Not Feeder Cattle) options expire on Feb 28. So it is always possible that price could be kept down till then
Stop below previous low 142
Enter at 144.4 (or lower) It is news time so...
Hope trading is going well. Let's take a look at feeder cattle.
Weekly is flirting with kijun sen with macd crossed down.
Daily looks like a bear flag. Keep an eye on it as it can provide a good RR trade.
Longer trendline would be broken if it closes here or a little above. We are looking to get long after Thursday's WASDE report. Those reports can swing grain and meat futures wildly. The risk/reward on this longer term trade is 5:1. Meanwhile, we are watching and waiting for confirmation of our analysis.