On the daily timeframe #C-LCATTLE: D1 is rising toward the 200-day moving average MA(200), which is falling. We believe the bullish momentum will continue after the price breaches above the upper Donchian boundary at 100.42. This level can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 93.66. 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 (100.42) without reaching the order (93.66) we recommend cancelling the order: the market sustains internal changes which were not taken into account.

Fundamental Analysis

WASDE forecast a lower US beef production for 2020. Will the LCATTLE continue rising?

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Author

Dmitry Lukashov

IFC Markets

Dimtry Lukashov is the senior analyst of IFC Markets. He started his professional career in the financial market as a trader interested in stocks and obligations.

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