Get started
hopscotch

December Live Cattle Uptrend

Long
Live Cattle Futures (Dec 2018) (CME:LEZ2018)  
hopscotch Updated   
CME:LEZ2018   Live Cattle Futures (Dec 2018)
Pivot Points Cypher Trend Lines
2
0
pivotpoints cypherpattern trendline
Live Cattle is using the green curve support line as launching areas for more upside moves. Looking for a move to R2 and maybe R3. Bulls have been supporting this market for a while now and don't see any end in sight short term. Because of China trade issues, cattle is lower than what it should be by this time of year being bbq season. Right now I have a bearish Cypher. Market could rise beyond this to go for a double top. That would put it near R3. significant break of this green trend line and staying below might signify an end to this upward trend. RSI hasn't been breached yet and is showing the continued rise to top of RSI.
Comment:
Cattle moves up with double tweezer bottoms. Looking for higher move through R1 to R2. 20 day MA now becomes support.
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.