December Cattle Daily Numbers & Trade Ideas for 11/11/09
Nov 11, 2009
This report was sent to subscribers on 11/10/09 6:00 p.m. Chicago time to be used for trading on 11/11/09. Everything is done by Howard Tyllas, no program or black box.
December Cattle (electronic)
After the close on 11/11/09: My support was 83.40, just 0.05 from the actual low, and my pivot acted as resistance and was 84.75, just 0.10 from the actual high.
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86.35 FG
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85.42
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--------------84.75 Pivot
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84.07 FG
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83.40 2009 Low
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Trend 88.42 is the 200 day MA
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5 day chart....….…. Down
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Daily chart ……….Down
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Weekly chart …….. Sideways
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Monthly chart …... Sideways
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ATR .92 Extremely Oversold 6%
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December Cattle Chart
December Cattle (elec) for 11/11/09:
I said for weeks "The gap at 88.47 will be major resistance when coupled with the 200 day moving average at 88.57".
I still say "Downtrend line near 86.60 (now 85.60) is resistance, the gap at 84.07 supports". Notice how this was perfect resistance last Wednesday.
In my daily numbers on Tuesday; my pivot acted as resistance and was $0.20 from the actual high, it also acted as support and was $0.50 from the actual low. This tells me that the market is looking for further direction.
Cattle: I covered my spreads for a healthy profit on both the shorts that I spread off buying the J, and making 1.35 on each. Support will be found at the $84.07 gap I have projected for quite awhile, and if it closes below there the market could be in for more trouble.
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Howard Tyllas
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Disclaimer: No guarantee of any kind is implied or possible where projections of future conditions are attempted. Futures trading involve risk. In no event should the content of this be construed as an express or implied promise, guarantee or implication by or from Howard Tyllas, that you will profit or that losses can or will be limited in any manner whatsoever. No such promises, guarantees or implications are given. Past results are no indication of future performance.
