fb#C-FCATTLE Price Forecast | Rising beef exports bullish for FCATTLE | IFCM UK

Technical Analysis #C-FCATTLE : 2020-08-07

Recommendation for Feeder Cattle :

Buy
Strong SellSellNeutralBuyStrong Buy

Above 146.95

Buy Stop

Below 139.15

Stop Loss

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Senior Analytical Expert
Articles 1590
IndicatorValueSignal
RSI Neutral
MACD Sell
Donchian Channel Buy
MA(200) Buy
Fractals Buy
Parabolic SAR Buy

Chart Analysis

IFC Markets Tech Analysis

On the daily timeframe #C-FCATTLE: D1 is rising above the 200-day moving average MA(200), which is flat. We believe the bullish momentum will continue after the price breaches above the upper Donchian boundary at 146.95. This level can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 139.15. After placing the pending order the stop loss is to be moved every day to the next fractal low, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop-loss level (139.15) without reaching the order (146.95) we recommend cancelling the order: the market sustains internal changes which were not taken into account.

Fundamental Analysis

USDA reported a surge in US beef exports. Will the FCATTLE continue rising?

Last week US Department of Agriculture (USDA) reported export sales of US 2020 beef in the week ended July 23 at 29,500 tons. The sales volume was up 81% from the prior four-week average and a marketing year high. Higher demand for beef as evidenced by exports report is bullish for the FCATTLE. At the same time today USDA will publish data on exports for the week ended July 30, and data showing a reverse trend will be a downside risk for the feeder cattle price.

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