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Apr 20, 2017 10:09 PM

Live Cattle Top Long

Live Cattle Futures (Dec 2017)CME GLOBEX

Description

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.

Comment

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.

Comment

Live Cattle fell this morning on overbought condition. Looking for 109.400, then 108.525 for gap.

Comment

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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