Cattle Poised To Rally?
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.
The December Swiss Franc
(
SFZ0 |
Quote |
Chart |
News |
PowerRating), mentioned Thursday night, began
rallying out of a low-level pullback. Continue to look for a buying opportunity
here but, as I mentioned last night, don’t overstay your
welcome as the longer-term trend remains down.
December live cattle
(
LCZ0 |
Quote |
Chart |
News |
PowerRating) appears to be finding some support back in the area of its recent
breakout. This suggests its uptrend remains intact. Look for a buying
opportunity here.face=”Arial, Helvetica”>
Volatility Watch
Once again, December coffee
(
KCZ0 |
Quote |
Chart |
News |
PowerRating) remains a low-volatility situation.
Continue to watch for a
larger-than-normal move (in either direction) as volatility reverts to its mean.
December gold
(
GCZ0 |
Quote |
Chart |
News |
PowerRating)
also remains a low-volatility situation. Continue to watch for a larger-than-normal move (in either direction) as volatility
reverts to its mean.
Best of luck with
your trading on Friday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!