The Livestock future went up 17.5 cents, closing at $165.5 and building up on its six days of gains

A quick look at yesterday: CME Live Cattle rose 17.5 cents to close at $165.5 per pound yesterday which makes for a move of 0.11%.

At the same time, United States New Home Sales (Jan) came out at 670,000, while a consensus of analysts was expecting 620,000. United States Core PCE Price Index (MoM) (Jan) released yesterday at 13:30 UTC with a figure of 0.6, while the previous figure was 0.4. United States CFTC S&P 500 speculative net positions came out at -222,300.

Live Cattle's upper Bollinger Band® is at $168.23, 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 CME Live Cattle is set for a reversal in the coming days.

The commodity has been trending positively for about 8 months. Having soared to a high of $165.5 approximately a day ago, CME Live Cattle is now trading 0.11% lower.