Commodity traders stay bullish as Live Cattle adds $1.45 or 0.89%

Yesterday at a glance: Live Cattle increases 0.89% to close at $164.4 per pound yesterday.

Meanwhile, United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 216,600, while the previous figure was 214,800. United States CFTC Gold speculative net positions released yesterday at 20:30 UTC with a figure of 195,800, while the previous figure was 195,600. United States CFTC Nasdaq 100 speculative net positions released yesterday at 20:30 UTC with a figure of 21,400, while the previous figure was 13,300.

Live Cattle's upper Bollinger Band® is at $166.1, this is a slight indication of a slowdown.

After posting consistent gains as part of its uptrend and being lifted by intraday sentiment, technical factors suggest Live Cattle is set for a reversal in the coming days.

Rallies can also be seen in other Meats, notably, Feeder Cattle rose 1.28% yesterday and closed at $226.07.

Trading mostly sideways for 11 months. Live Cattle has fallen back around 3.11% from the significant high of $168.18 set a month ago.