After 15 days of going down, Live Cattle is stable today, trading around $164.55

The Livestock future trades at $164.55 per pound, after ending yesterday at $164.55.

United States Building Permits is next today at 13:30 UTC.

Live Cattle's upper Bollinger Band® is at $167.79, suggesting that a downward move may follow.

Despite the market lacking direction, technical chart analysis strongly suggests the Livestock future is positioned for a downward move in the near term.

Furthermore, the market is looking at as things stand, upcoming United States Core Durable Goods Orders data is projected to fall short of market expectations with newly published data of -0.2%, following on from the preceding figure of -0.1%. New data is set to be published tomorrow at 12:30 UTC. United States Crude Oil Inventories is projected to outperform its last figure with -1.67 million. It previously stood at -4.58 million; data will be released tomorrow at 14:30 UTC. United States Building Permits will be released today at 13:30 UTC.

The commodity has been trending positively for about 10 months. The Livestock future reached a significant high of $168.18 around 25 days ago but has lost 2.16% since then.