December Live Cattle has created a evening star Doji along with two other dojis in overbought market extending into a Cypher pattern extensions. Possible retracement to 109.400, then 108.525 to fill small gap left back a week ago. Cattle in uptrend so caution to extent of drop should be noted.
Note
Live Cattle scraping the top areas of the Cypher extension and made a gravestone today. There really isn't anywhere to go but down unless bulls really want this higher. Targets still the same.Note
Live Cattle fell this morning on overbought condition. Looking for 109.400, then 108.525 for gap.Note
Live Cattle continues to rise outside any potential pattern. With overbought conditions we should see a purge in the next couple of days and a continued uptrend unless bears can push it down to 114.875. New graphical projection for Cattle.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.