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Feedercattle

March Feeder Cattle Almost break outFeeder Cattle almost broke out of a bullish flag today. Corn was down but created a continuation cross. There is an upside wedge forming here over the last few weeks. Could go either way for corn. Corn sales would make this market go higher. Look for more sideways play. Feeders may attempt another push on Monday. There is mixed weather over the plains. Marketers don't want freezing cows in pens. Might hamper upsurge. If sales are brisk, that may help Feeders rise. Feeders still steady in Gann Fann 1/1 indicating a strong market.
CME:GFH2017Long
by hopscotch
Feeder Cattle - The ideally bottom for wave A seen at 130.78In October 2014 I called the top almost to the cent (see the link below). The decline from 244.80 is finally coming to an end near 130.78. Short term I'm looking for the final decline in red wave v of an ending diagonal and once the bottom is in place, a quick return to the origin of the ending diagonal at 169.58 should be seen, within half the time it took to build (that would amount to something like 3 months). That will however, likely be only the first part of wave B, as a continuation higher towards 187.80 and possibly even closer to 201.25 should be expected longer term. The clear divergence seen from the RSI indicator does confirm that, we are approaching the end of wave A and wave B can start soon. It's time to close the long term short position and shift towards a long position. Just a final word. Remember that correction in the commodity complex often is extremely violent. Just look at Soybeans and Soybean Meal.
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by EWS