Live Cattle (February)
February live cattle ran up to and ultimately failed against our resistance pocket, we have defined that in our daily reports as 113.90-114.025. As mentioned in yesterday’s interview with RFD-TV, we like selling into technical resistance this week. With today’s price action, we have marked lower highs, but a breakout above that pocket would negate that and neutralize our bias. First support for tomorrow’s trade comes in from 112.45-112.70. A break and close below here could accelerate the selling and take us near...Click this link to read the FULL report and receive our daily commentary
Feeder Cattle (January)
Coming into today’s session we liked leaning on the sell-side against technical resistance, noting a good risk/reward setup, but that did not work out so well this time around. January feeder cattle surged higher today, tripping stops above both of our resistance pockets and making its way into the gap left from August 24th. Was today’s session a stop hunt/gap fill, or a legitimate breakout? Tomorrow’s session could set the tone going forward...Click this link to read the FULL report and receive our daily commentary
Lean Hogs (February)
Lean hogs traded on both sides of unchanged during a choppy session. Hogs poked their head above resistance, backed off, then crept higher into the close. This should have the Bear camp a little nervous heading into tomorrow’s session. If the Bears fail to defend resistance, we could see the market start to make a run to...Click this link to read the FULL report and receive our daily commentary
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Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.