Talon
Long

Live cattle /LE retracing into important support

CME:LE1!   LIVE CATTLE FUTURES
Live Cattle             is retracing into a current strong support area. You can see how this horizontal support was tested as resistance in September, followed by a touch on the backside after a breakout at the end of that same month. This should provide a strong possibility for support in the coming days should we move lower into this area.

The target is therefore a majority of the move back up to the high's, and the stop should be large enough to not get shaken out unnecessarily.
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