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FCATTLE Technical Analysis - FCATTLE Trading: 2023-01-18
Feeder Cattle Technical Analysis Summary
Below 181
Sell Stop
Above 188
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| MA(200) | Neutral |
| Fractals | Sell |
| Parabolic SAR | Sell |
| Bollinger Bands | Sell |
Feeder Cattle Chart Analysis
Feeder Cattle Technical Analysis
On the daily timeframe, FCATTLE: D1 failed to update the high and is trying to correct down. A number of technical analysis indicators have formed downward signals. We do not rule out a bearish movement if FCATTLE: D1 falls below the latest low: 181. This level can be used as an entry point. The initial risk limit may be higher than the high since November 2015, the last 2 upper fractals, the upper Bollinger band and the Parabolic signal: 188. After opening a pending order, we move the stop following the Bollinger and Parabolic signals to the next fractal low. Thus, we change the potential profit/loss ratio in our favor. The most cautious traders, after making a trade, can switch to a four-hour chart and set a stop loss, moving it in the direction of movement. If the price overcomes the stop level (188) without activating the order (181), it is recommended to delete the order: there are internal changes in the market that were not taken into account.
Fundamental Analysis of Commodities - Feeder Cattle
Beef prices are trying to correct down before the publication of market reviews of cattle in the US. Will the correction of FCATTLE quotes continue?
In the US, the monthly Livestock Slaughter review will be released on January 19th and the Cattle on Feed review on January 20th. They can affect quotes. According to forecasts, the United States in 2023 will be the 4th largest exporter of cattle meat in the world after Brazil, Australia and India. Some market participants fear a reduction in demand for relatively expensive beef in the event of a recession in the global economy. Recall that the main world importer of beef is China. It just demonstrates the slowdown in economic growth. China Gross Domestic Product in the 4th quarter of 2022 increased by 2.9% y/y. This is noticeably less than expected (+4.9% y/y) and less than growth in the 3rd quarter (+3.9% y/y).
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