February Cattle

After the close on 12/29/09: My pivot acted as resistance and was 85.37, just .07 from the actual high, and my support  was 84.75 FG, .05 from the actual 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.

February Cattle Daily Numbers & Trade Ideas for 12/29/09

Dec 29, 2009



This report was sent to subscribers on 12/28/09 6:00 p.m. Chicago time to be used for trading on 12/29/09. Everything is done by Howard Tyllas, no program or black box.

February Cattle

After the close on 12/29/09: My pivot acted as resistance and was 85.37, just .07 from the actual high, and my support  was 84.75 FG, .05 from the actual low.

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86.60

86.00                        Key resistance (near DT line)

--------------85.37     Pivot

84.75 FG

84.32

       

         

Trend                         88.32 is the 200 day MA

5 day chart....… Sideways from last week same day                                                          

Daily chart   ……….Down        

Weekly chart …….. Sideways 

Monthly chart …...  Sideways

ATR .82                    Balanced 69%  




February Cattle (elec.) for 12/29/09: 

I continue to say "Major resistance is the long term downtrend line near 86.00. Support is the bracket line (green) near 84.32, and then the gaps at 83.27 and at 82.17".

Bulls will try to overcome the downtrend line and turn the chart friendly.

  Notice how I use the open outcry chart to locate gaps, but I do my numbers for the electronic market as always. Open outcry is where I find the major players doing business.

    In my daily numbers on Monday; my resistance was .05 from the actual high, my pivot acted as support and was .02 from the actual low.

Cattle: Spot on numbers being .05 from the high (2 ticks) and the low was .02 (1 tick) from my support number. Bulls need to hurdle the downtrend line, bears will be selling against there.

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           May Your Next Trade Be The Best                          

                     Howard Tyllas            

  

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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