May 19, 2025
Commodity Futures Weekly Newsletter- For the week of May 19th, 2025
Feeder Cattle set a new all-time high at 303.475, reaching the top of the up-trending channel.
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A publication by the Research Team at Capital Trading Group: 800-238-2610
Livestock
Feeder Cattle Futures
Feeder Cattle sets new all-time high at 303.475.
Feeder Cattle Futures reached the top of the up-trending channel. With a Bullish RSI reading above 50, at 57.64, a new all-time high of 303.475 was printed this week. The short-term Bulllish perspective here is complete as we await confirmation of a peak in Wave 5.
Another new all-time high at 303.475 in thrust from a Bullish Triangle
This week’s high of 303.475 in the thrust higher from a Bullish triangle pattern may be complete. As previously discussed, thrusts from Wave 4 triangles precede 5th Wave peaks as per the model. This means any further necessary new highs would be ending a 5-wave rise not starting one, if not already complete. Trend channel Resistance for Wave 5 has now been met, just below the 305-310 target area. If any new marginal new high is needed to complete Wave 5, the 320 level is the potential upper projection for a Wave 5 top to form. Again, thrusts from 4th wave triangles are terminal events and could end at any time.
Conclusion
As noted last week, in the optimum scenario, Wave 5 will reach and meet Trend Channel Resistance as shown. This has occurred. Downside opportunities now may arise from the top. Support is nearby at the wave 4 triangle endpoint of 281.90. If price continues lower and we witness moves below 281.90, move to confidently Bearish expecting declines to break Trend Channel Support in Wave A of a larger A,B,C Corrective Wave after 5-waves up complete in an Impulsive Wave as per the Elliott Wave Theory model overlayed upon the chart. A break below 50 in RSI would be a good indication that Wave 5 was finished and Wave A lower to beneath 281.90 had begun.
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Thank you!
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