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December Live Cattle Bearish

Short
Live Cattle Futures (Dec 2017) (CME:LEZ2017)  
hopscotch Updated   
CME:LEZ2017   Live Cattle Futures (Dec 2017)
Pivot Points Butterfly
3
0
pivotpoints butterflypattern
December Live Cattle fell off a Bearish Cypher. Next setup may be a bullish Butterfly or Bat. Next downside target is pivot at 110.825. Long term may be 104.800. Swings keep getting lower each time so long term for now is bearish channel.
Comment:
Cattle may be trying to create bearish flag this morning. Will know more as the day progresses and market closes.
Comment:
Bearish flag setup from this morning neutralized. Cattle trying to fill gap made Monday. Upside target 116, then possibly R2, however we could still see a fall back down to pivot.
Comment:
A mini head and shoulders is developing on Live Cattle. LC fell today to a support area at 113.275. Next downside target for bears is pivot at 110.825
Comment:
Cattle has turned north targeting channel top or double top at 117.600.

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