Cattle Prices Limit Up 300 Points

Cattle Prices Limit Up 300 Points
Cattle Prices Limit Up 300 Points

Live Cattle Futures—Another wild trading session in the livestock sector as cattle in the April contract is limit up 300 points reversing the limit down session we witnessed yesterday as prices are trading at 105.85 up about 2.92% as stabilization has come about in many different markets today.

I have been recommending a bearish position from around the 124.50 level and if you took that trade the stop-loss now stands at 112.75, however the chart structure will not improve for another 5 trading sessions so you will have to accept the monetary risk at this time.

The volatility in cattle is extremely high and that situation is not going to change for some time as we filled the gap that was created yesterday, however I still remain bearish as I think today was due to oversold conditions breaking a 3-day sharp decline. Cattle prices are trading far below their 20 and 100 day moving average telling you that this trend remains to the downside, however I will not add any more contracts to this recommendation as the volatility is too high so stay short with the original amount of contracts.

TREND: LOWER

CHART STRUCTURE: POOR

VOLATILITY: HIGH

If you are looking to contact Michael Seery (CTA—COMMODITY TRADING ADVISOR) at 1-630-408-3325 I will be more than happy to help you with your trading or visit www.seeryfutures.com

 

TWITTER—@seeryfutures

FREE TRIAL FOR THE LIMIT UP COMMODITY NEWSLETTER

 Email: mseery@seeryfutures.com

If you’re looking to open a Trading Account click on this link www.admis.com

 

There is a substantial risk of loss in futures and futures options. Furthermore, Seery Futures is not responsible for the accuracy of the information contained on linked sites. Trading futures and options is Not appropriate for every investor.