Looking To Sell Cattle

Looking To Sell Cattle
Looking To Sell Cattle

Live Cattle Futures—Live cattle futures in the August contract is down 80 points at 96.40 reversing the gains that we witnessed in yesterday’s trade as prices are hovering right near a 6-week low while also stuck in a 7 week consolidation pattern looking to break out to the downside in my opinion.

If you take a look at the daily chart the downtrend line remains intact as prices topped out slightly above the 100 level as I will be recommending a bearish position if prices break the 93.57 area on a closing basis while placing the stop loss above the 10-day high standing at at 98.12 as the risk would be around $1,800 per contract plus slippage & commission as the volatility has been stagnant over the last 2 months.

The commodity markets continue to head sideways as there is still so much uncertainty about the Coronavirus going forward as the risk / reward looks to be in your favor as prices look to break to the downside as we have experienced around a 25% rally from the April 6th low. Cattle prices are trading below their 20 and 100 day moving average as the trend has turned to the downside so keep a close eye on this market as we could be involved in the next couple of days.






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 



 Email: mseery@seeryfutures.com

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




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