What’s Up, What’s Down: Friendly Outlook for Cattle and Copper

Comments for Friday, March 26, 2010

Looking Ahead to Today by Reflecting Back at Thursday’s Price Action


Lower closes yesterday for live and feeder cattle along with pork bellies and lean hogs. Cattle futures are looking more and more toppy but the up-trend is still intact while 9140 is a key price in the June contract and support is around the 9000 area. The feeders continue hold up better helped by falling corn prices. The next support area, basis the May contract, is around 10750. Hogs fell for the third trading session in a row unable to hold the 8000 area basis the June contract and have now given me a SELL SIGNAL. Bellies followed through lower again but still are in an uptrend overall. BUY SIGNALS FOR LIVE AND FEEDER CATTLE. SELL SIGNAL FOR HOGS. CALL FOR DETAILS!

Live cattle Chart

lean hog Chart


Higher for copper, gold, silver and platinum. Copper is still in a BULL TRIANGLE unable so far to get through a good resistance area but history says it will move higher. Gold should continue to work lower overall while silver needs to close below 1650 basis the May contract to confirm a sell signal. Platinum closed higher but was hurt by Tuesday’s close and is now forming a possible top. BUY SIGNALS FOR COPPER AND PLATINUM. SELL SIGNAL FOR GOLD. CALL FOR DETAILS!

Copper Chart

Read the balance of my morning comments, including the Metals, Softs, Energies and Grains, at my website. For my complete coverage, visit my commentary page at www.markethead.com.

Rick Alexander has been a broker and analyst in the futures business for over thirty years. He is a Vice-President for Sales and Trading at the Zaner Group (www.zaner.com) a Chicago-based futures brokerage firm. If you would like a free booklet explaining the charts mentioned above, email Rick at ralexander@zaner.com.

The information in this Report and the opinions expressed are subject to change without notice. Neither the information nor any opinion expressed constitutes a solicitation by Rick Alexander or the Zaner Group of the purchase or sale of any futures or options. Futures and options trading is speculative in nature and involves risks. Spread trading is not necessarily less risky than outright positions. Futures and options trading is not suitable for all investors.

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