The 200 period Exponential Moving Average for the Commodity Live Cattle is at 11,807.2 level. the price of Commodity Live Cattle is now trading at 12,051 level.
After moving up from our support levels of 9,555 price level on 08.09.2019 to our profit targets of 10,445 on 24.09.2019, 11,277 on 15.10.2019 as per below posts, Commodity Live Cattle went up to make a high of 12,763.4 on 10.01.2020.
The chart shown below is a Daily Price Chart for Commodity Live Cattle with 200 period Exponential Moving Average super imposed on top of the price. Just 3 bars before to the current bar i.e. on 11.02.2020, price of Commodity Live Cattle closed below 200 period Exponential Moving Average at 11,772 when the reading of 200 period Exponential Moving Average was 11,803. Next day, i.e. on 12.02.2020, price of Commodity Live Cattle immediately snapped back its 200 period Exponential Moving Average and closed above it at 11,836 when the 200 period Exponential Moving Average was at 11,803. On 13.02.2020 Commodity Live Cattle formed a 3 candle Bullish Reversal Pattern in the form of “Morning Star” and closed above the high of 11.02.2020 bar at 11,910.9 with its 200 period Exponential Moving Average printing a value of 11,804.
Now at the time of writing this post, Commodity Live Cattle is trading at 12,051 level with its 200 period Exponential Moving Average at 11,807.2 level. This Bullish Reversal Pattern in the form of “Morning Star” completed on 13.02.2020 can push the price Commodity Live Cattle to the following levels:
- 12,241.4 price level
- 12,364.6 price level
- 12,540 price level
- 12,644.4 price level as shown on the chart.
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