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Friday, 19 February 2016 11:17

Bargain sale in the butcher? | Short term bearish set up on Feeder Cattle Futures

After a pullback to test the descending 60 days ema, we might expect a decrease of April 2016 Feeder Cattle Futures in the short term.

Patterns and Volume Spread Analysis

We can see that today's candle is exactly on the descending trendline and that yesterday ended with a pseudo upthrust (shooting star candle), which, according to the Volume Spead Analysis, represents a possible reversal setup.

feeder cattle futures trendline shooting star pseudo upthrust bearish trading for purpose

Volume Profile

Analyzing the Volume Profile chart (which we set Daily for a period of 3 months), we notice a remarkable unfilled area below the current price level and we can wait for a retracement aimed at restoring the symmetry of the bell-shaped curve.

feeder cattle futures volume profile bearish trading for purpose

We can probably expect a short period retracement, but remember: this is not a trade solicitation and, if you decide to trade, you do it at your own responsibility.

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