Live Cattle (February)
February live cattle opened lower but managed to grind back to near unchanged by the close. Though we have been looking for a deeper correction, recent price action has been constructive and moderate dips have been bought. We still believe that the market will have a tough time breaking out above our resistance pocket....Sign up for your FREE trial!
Feeder Cattle (January)
January feeder cattle tried to break lower today but hit our first support pocket and held firm, we have had that defined as 142.225-143.15. If the bears can break the market below technical support, we could see a whoosh lower, the next objective coming in closer to....Sign up for your FREE trial!
Lean Hogs (February)
February lean hogs rolled over for the fifth consecutive session, but today was something to get excited about. We have been talking about the September 11th gap for the last two months and how we’d like to be buyers of that on the first test. We have had that 4-star support pocket defined as 67.825-68.525. Grossly oversold coupled with solid technical support was a good situation to be in for those who were patient and wanting to buy. The rebound into the afternoon was constructive and a good first step, but the bulls need to see a close back above....Sign up for your FREE trial!
Feel free to contact Oliver with any questions or comments
Call or text: 312-837-3938
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.