The top in cattle?

Published on: 23:41PM Jan 31, 2019

Livestock Roundup

 

January 31, 2019

 
 

LEG9: -1.075 at 125.075, trading in a range of 2.40

LEJ8: -1.70 at 126.35, trading in a range of 3.35

GFH9: -1.825 at 142.475, trading in a range of 3.175

GFJ9: -1.625 at 144.20, trading in a range of 2.85

 

Cattle Commentary: Unfortunately, we had to cancel our weekly “2 Minute Drill” and interview with RFD-TV today to make ourselves available for clients during the increased volatility. If you’ve been reading our daily Livestock Roundup, you know that we have been skeptical of the potential upside. We may have been a little premature, but proper position sizing/leverage allowed us to sit through the grind higher in the first half of the week. The move higher this morning tested our patience, but patience paid off as we had a huge reversal off of the highs, not only eliminating early morning gains, but eliminating gains from the previous 6 sessions. With the price action we saw into the close, we would not be surprised to see a continuation lower to start tomorrows session. With that said, there is good technical support coming in from....Get our full report (outlook/market bias/ technical levels) emailed to you every day, click HERE or email Oliver@BlueLineFutures.com.

 

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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.