December Live Cattle tried to promote a bearish flag today. Some traders really want a double top for Cattle at 104.825, but there is more opposition to a downward movement than up. I am not counting out the bulls just yet. They are an ornery bunch. Suspect more up and down to follow. Bearish Flag still in the running though, but still in an uptrend.
Comment:
Bulls back in control. Trying to make a double top. RSI still climbing making the double top more significant.
Comment:
Cattle double topped as projected. Tomorrow will indicated if this market is still strong for more upside or pull back to 103 trendline.
