By IFCMarkets
Technical setup bearish for live cattle price
Live cattle market is subject to developments in China-US trade front as most other agricultural commodities. While China committed to buying more US agricultural exports than in the period before the tariff dispute, it stipulated purchases would be based on prevailing market conditions and at market prices. The live cattle price is in downtrend which has not reversed after the signing of the phase one US-China trade deal. And recent selloff in global markets after the emergence of coronavirus infection in China didn’t change the market setting for the live cattle price.
| Indicator | VALUE | Signal |
|---|---|---|
| RSI | Neutral | |
| MACD | Sell | |
| Donchian Channel | Sell | |
| MA(100) | Sell | |
| Fractals | Sell | |
| Parabolic SAR | Sell |
| Order | Sell |
| Buy stop | Below 118.28 |
| Stop loss | Above 121.67 |
Market Analysis provided by IFCMarkets