After five days of persistent declines, CME Live Cattle was flat Friday

A quick look at Friday: the Livestock future moves 0.08% to close at $162.47 per pound Friday.

Trend-focused traders would be interested to note that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. According to asset volatility analysis, Live Cattle's upper Bollinger Band® is at $166.49 and the lower is $163.22.

Overall, technical indicators suggest Live Cattle has no obvious direction for the immediate future.

The commodity has been trending positively for about 9 months. Having set a significant high of $166.22 13 days ago, CME Live Cattle is trading 2.33% lower.