We are seeing some reversal price action this morning in feeder cattle
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HEAD AND SHOULDERS…
20-50-90 day moving averages…
Trendline that began in February…
From a positive perspective, the latest US nonfarm payroll readings have extended the slow, gradual improvement in the economy.
In retrospect, the recent sharp declines in equity prices and significant pressure on industrial commodities were justified by disappointing US scheduled data and the Fed’s move to notch interest rates upward.
This is a sample entry from Kirk Donsbach’s newsletter, The Cattleman’s Advisory, published on June 5, 2017. Weekly Cattle Commentary 06/02/2017 Of course, 24 hours after I say “excluding an unforeseen fundamental game changer, the highs for 2017 are probably in” we get an unforeseen game changer in India banning meat exports. Keep in mind… Read more.
This is a sample entry from Kirk Donsbach’s newsletter, The Cattleman’s Advisory, published on April 24, 2017. Weekly Cattle Commentary 04/21/2017 Month Actual Average of Estimates Range of Estimates Cattle on Feed April 100 99.7 98.7-100.6 Placed During March 111 106.0 101.0-109.5 Marketed During March 110 109.5 102.0-110.0 Cash sales for this last week were… Read more.
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I wanted to take a few minutes and discuss a trading formation, THE BULL FLAG.