December Live Cattle maybe creating at Head and Shoulders / Bullish Butterfly. Neckline comes in at pivot 114.625. Break up above R2 would negate H&S. Minimal drop would be to S1. There is still a lot of RSI to make up so this may take a while of up and down.
הערה:
Cattle tried to increase its position and was traded back slightly. May go for double top at R2 tomorrow or descend down off of the mini downtrend line. Since it hasn't broken the 20 day, we should theorize more upside.
הערה:
Doji for Cattle. May signal end for up. Need confirmation.
הערה:
Cattle still looking bullish
הערה:
No head and shoulders. Cattle making a run at 120. 20 day MA becomes support
הערה:
Cattle pause. May see higher highs still. Potential drop here also may happen. RSI overbought.
הערה:
Cattle fell today and broke through the 20 day MA, but couldn't stay under, which still puts it into a bullish pattern. If tomorrow brings further selling through and under 20 day, we should see prices back to pivot at 114.625. Cattle however did break through uptrend RSI line.
הערה:
20 day MA now becomes support for possible run up to R3. Break of 116.050 will send this tumbling down.
הערה:
Cattle made a bear flag today. Looking for another move down to 116.050.
הערה:
Cattle moving sideways. Has a bullish slant.
הערה:
We have a bull flag on Live Cattle. H&S is no longer valid. 120.450 possible target. Market over 20 day MA.