Can’t Beat The Meats?
Each evening we
focus on the most interesting aspects for the upcoming
trading day. The comments are based on observations of the
nightly updates of the Futures and Market Bias pages. They
are provided for educational purposes only and are not
intended to be direct trading advice. Also, keep in mind
that these remarks are made up to 12 hours in advance of the
market’s opening. Therefore, overnight events may alter the
outcome of these observations.
January feeder cattle
(
FCF1 |
Quote |
Chart |
News |
PowerRating) looks poised to resume its uptrend out of
a pullback formation. Look for a buying opportunity here.face=”Arial, Helvetica”>
February live cattle
(
LCG1 |
Quote |
Chart |
News |
PowerRating) also looks poised to resume its strong
uptrend. Look for a buying opportunity here.Â
Finishing out the meats,
February pork bellies
(
PBG1 |
Quote |
Chart |
News |
PowerRating) and lean hogs
(
LHG1 |
Quote |
Chart |
News |
PowerRating) both look like they
have the potential to resume their uptrends out of pullbacks from highs. Look
for buying opportunities here.
January natural gas
(
NGF1 |
Quote |
Chart |
News |
PowerRating) began rallying
out of a pullback on Friday. This suggests its longer-term uptrend remains
intact. Look for a buying opportunity here.
January soybeans
(
SF1 |
Quote |
Chart |
News |
PowerRating) has
formed a flag formation and looks like it has the potential to resume its
uptrend out of a big-picture cup formation. Look for a buying opportunity here.
March
cotton
(
CTH1 |
Quote |
Chart |
News |
PowerRating) has begun to pull back from lows. This suggests that it has
the potential to break down from a big-picture inverted cup formation. Look for
a shorting opportunity here.
Best of luck with
your trading on Monday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!