After the close on 11/17/09: My pivot acted as resistance and was 83.98, just .17 from the actual high, and my support was 83.32 FG, the EXACTactual low.

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Hedging Corn and Soybeans

RSS By: Howard Tyllas, AgWeb.com

Howard Tyllas is currently a member of the Chicago Board of Trade and registered with the Commodity Futures Trading Commission as a floor broker and as a Commodity Trading Advisor.

December Cattle Daily Numbers & Trade Ideas for 11/17/09

Nov 17, 2009

 

This report was sent to subscribers on 11/16/09 5:55 p.m. Chicago time to be used for trading on 11/17/09. Everything is done by Howard Tyllas, no program or black box.

December Cattle

After the close on 11/17/09: My pivot acted as resistance and was 83.98, just .17 from the actual high, and my support was 83.32 FG, the EXACTactual low.

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85.42            

84.65            

--------------83.98      Pivot & 2009 Low

83.32 FG     

82.70     

 

      

Trend                         88.30 is the 200 day MA

5 day chart....….….  Down                          

Daily chart   ……….Down        

Weekly chart …….. Sideways   

Monthly chart …...  Sideways

ATR .85                    Oversold 23%  

December Cattle Chart

December Cattle for 11/17/09: 

Red downtrend line is resistance at $85, recent low supports. I said "The same low in open outcry for the run two days in a row and closing above the long term downtrend line is supportive".

In my daily numbers on Monday; my resistance was $0.22 from the actual high, my pivot acted as support and was the 0.22 actual low.  

Cattle: Outside markets consider, the market looks pathetic. Narrow range with a struggle to move higher looks like some profit taking more than any buyers in there. Follow the numbers is how I approach, with a bias that we should correct a little further at least to the first resistance, but since action has dried up, it might take a day or two to get there. I want to see this market rally so I can get to a level to sell again, I do not have the heart to attempt to bottom pick this one. Bulls can look at an improving chart picture and only 2 cents from long term support.


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           May Your Next Trade Be The Best                          

                     Howard Tyllas            

   Tel.1-312-573-2699, 1-312-961-4390



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.

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