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Will Cattle Prices Break 114 ? – Growing Your Money

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Will Cattle Prices Break 114 ?

Live Cattle Futures–-Cattle futures in the December contract is currently trading at 112.80 while settling last Friday in Chicago at 111.10 up about 170 points for the trading week still hovering near a 7 month high.

I have been recommending a bullish trade originally from the 111.00 level while then adding another contract at 113.30 as the average is around 112.15 and if you took those trades place the stop-loss at the 2 week low at 110.75 on a hard basis only as I am not willing to risk more than that price level.

Volatility at the present time volatility has come to a crawl as prices have gone nowhere over the last couple of weeks, however I still believe prices will break the August 19th contract high of  114.02 possibly in next weeks trade as we just need some fresh fundamental new to dictate short-term price action therefor expanding the volatility which is much needed at this time.

Currently all of my trade recommendations are bullish with mostly concentrated in the grain market which continues to surge higher on a daily basis and as I’ve talked about in many previous blogs I think 2021 will be terrific for the commodity markets to the upside as prices are still cheap. 

TREND: HIGHER

CHART STRUCTURE: EXCELLENT

VOLATILITY: LOW

 

If you are looking to contact Michael Seery (CTA—COMMODITY TRADING ADVISOR) at 1-630-408-3325 I will be more than happy to help you with your trading or visit www.seeryfutures.com 

 

TWITTER—@seeryfutures 

 

 Email: mseery@seeryfutures.com

If you’re looking to open a Trading Account click on this link www.admis.com 

 

There is a substantial risk of loss in futures and futures options. Furthermore, Seery Futures is not responsible for the accuracy of the information contained on linked sites. Trading futures and options is Not appropriate for every investor.

 



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Commodities

Gold Ends Up But Renewed Pressure Seen Without Stimulus Deal By Investing.com

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© Reuters.

By Barani Krishnan

Investing.com – Gold prices rose on Monday but renewed pressure seems likely for the yellow metal as a new coronavirus stimulus deal between the White House and Congress remained elusive.

Those familiar with negotiations on the stimulus said there was still distance between the Republican administration of President Donald Trump and the Democrat Congress led by House Speaker Nancy Pelosi.

Pelosi said Sunday that she was optimistic legislation could be pushed through before the November 3 U.S. election. White House Chief of Staff Mark Meadows also expressed hope on Monday that a deal was possible, saying the administration has gone as far as offering $1.9 trillion versus the $1.8 trillion package proposed earlier.

Yet, a standoff between the two sides lingered, and that weighed on gold prices in late trading.

was at $1,905.35, down $1.05, or 0.1%. It settled Monday’s official trading session up $5.30, or 0.3%, at $1,911.70/oz.

, which reflects real-time trades in bullion, up $2.02, or 0.1%, at $1,902.19 by 3:51 PM ET (19:51 GMT).

Congress, led by Pelosi and the Democrats, approved a Coronavirus Aid, Relief and Economic Security (CARES) stimulus in March, dispensing roughly $3 trillion as paycheck protection for workers, loans and grants for businesses and other personal aid for qualifying citizens and residents.

Democrats have been locked in a stalemate since with Republicans, who control the US Senate, on a successive package to the CARES, arguing over the size of the next relief, as thousands of Americans, particularly those in the airlines sector, risked losing their jobs without further aid.

President Donald Trump trails Democrat challenger Joe Biden in most polls ahead of the November 3 election. A preliminary agreement over the stimulus could be a positive talking point for the president at his campaign rallies.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Commodities

Do You Understand Chart Structure? – Growing Your Money

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Do You Understand Chart Structure?

What do I mean when I talk about chart structure and why do I think it’s so important when deciding to enter or exit a trade? I define chart structure as a slow grinding up or down trend with low volatility and no chart gaps. Many of the great trends that develop have very good chart structure with many low percentage daily moves over a course of at least 4 weeks thus allowing you to enter a market allowing you to place a stop loss relatively close due to small moves thus reducing risk.

Charts that have violent up and down swings are not considered to have solid chart structure as I like to place my stops at 10 day highs or 10 day lows and if the charts have a tight pattern that will allow the trader to minimize risk which is what trading is all about and if the chart has big swings your stop will be further away allowing the possibility of larger monetary loss.

 

 

If you are looking to contact Michael Seery (CTA—COMMODITY TRADING ADVISOR) at 1-630-408-3325 I will be more than happy to help you with your trading or visit www.seeryfutures.com

TWITTER—@seeryfutures
FREE TRIAL FOR THE LIMIT UP COMMODITY NEWSLETTER
Email: mseery@seeryfutures.com
If you’re looking to open a Trading Account click on this link www.admis.com

There is a substantial risk of loss in futures and futures options. Furthermore, Seery Futures is not responsible for the accuracy of the information contained on linked sites. Trading futures and options is Not appropriate for every investor.



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Crude Oil Rises as Production Hikes Expected to be Delayed By Investing.com

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© Reuters.

By Geoffrey Smith 

Investing.com — Crude oil prices rose on Monday after the world’s two biggest oil exporters both dropped hints that they may need to abandon, or at least delay, the increase in production that they expect to carry out at the start of 2021.

In opening remarks to a meeting of ministers from the Organization of Petroleum Exporting Countries and its biggest allies, Russian Energy Minister Alexander Novak and his Saudi Arabian counterpart Prince Abdulaziz bin Salman both warned of an uncertain period ahead and stressed the need for the group’s output policy to remain flexible in its efforts to support prices.

By 11 AM ET (1500 GMT), futures had reversed overnight losses to trade up 0.4% at $41.28 a barrel, while the international benchmark was up 0.1% at $42.95 a barrel. Both markers were well off their intraday highs, nevertheless.

U.S. gasoline futures were up 0.2% at $1.1711 a gallon, having hit a two-week low overnight..

Russia’s Novak had warned in his remarks at the ‘open’ session of the meeting that the situation remained fragile and that the recovery in oil demand had slowed down since the summer.  That’s due largely to the resurgence of the Covid-19 pandemic in most of the northern hemisphere – outside China – as colder temperatures and the start of the academic year have combined to spread the virus again. Hospital admissions in both North America and Europe have been on the increase for over a month now.

Even China’s rebound has flattened out somewhat, with third-quarter GDP numbers overnight disappointing both in a quarter-on-quarter and year-on-year comparison, although the country remains on track to be the only major economy in the world that won’t shrink this year.

For his part, Prince Abdulaziz warned that the bloc had to be ready to act pre-emptively to head off a repeat of the second-quarter chaos, when a plunge in demand briefly turned futures prices negative for the first time ever.

“We have to be able to take measures to head off negative trends and developments, to nip them in the bud, before they become threatening,” Abdulaziz said. “Nobody in the market should be in any doubt as to our commitment and our intent. It would be unwise indeed if anyone were to gamble on our determination.”

Abdulaziz had made similar comments at an earlier meeting this year in the direction of those tempted to sell the market short.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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