Commodity Futures Weekly Newsletter- For the week of June 30th, 2025
Feeder Cattle awaits confirmation of a top.
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A publication by the Research Team at Capital Trading Group: 800-238-2610
Livestock
Feeder Cattle Futures
Feeder Cattle await confirmation of a top.
Feeder Cattle Futures maintain a Bullish RSI reading above 50, at 61.47 and remain above support at 290. With 5 waves-up visible, Bearish Opportunities may arise here from the top.
Awaiting breaks of Short-term support at 290 to confirm a peak
As before, any new marginal new high beyond 314.20 at the all-time high, needed to complete Wave 5 would aim for 318.75, as the potential upper projection for a Wave 5 top to form. We can continue to list 290 as support, as any drop below that level would take prices back into the span of the previous 4th wave triangle, indicating Wave 5 had likely peaked.
Conclusion
With a Wave 5 potentially complete, we are awaiting confirmation of a top to be registered. Structural 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. A break below 50 in RSI, currently at 61.47 or drop in prices below 290, currently at 310.50, would be a good early confirmation that Wave 5 indeed was finished and Wave A lower to beneath 281.90 had started the larger ABC Corrective Wave following a 12345 Impulsive Wave, ending in a Wave 5 thrust from a Wave 4 Bullish Running Triangle.
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Thank you!
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