Cattle Front Month: One-Year Chart. Cattle has been basing for over a month now after parachuting to lows.
I use the one-month chart to identify major moves. Changing conditions in the fundamentals could drive Cattle prices above 23/30 EMA. RSI indicator: neither overbought nor oversold. Buy point 109. Pyramid positions at the 50 SMA (funds like it here). Stop loss 102.5 support. Remember to watch for confirmation by volume. Note that feeder cattle, a leading indicator of cattle, is up ahead today.