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hopscotch

December Live Cattle Head and Shoulders

Long
Live Cattle Futures (Dec 2019) (CME:LEZ2019)  
hopscotch Updated   
CME:LEZ2019   Live Cattle Futures (Dec 2019)
Pivot Points Trend Lines Head and Shoulders
1
0
pivotpoints trendline headandshoulders
Dec Live Cattle is building out a H&S. Break out above R2 at 118.375 will cancel this move. R1 at 117.625 has become substantial resistance. If H&S comes to fruition, fall back to upward trendline and we would assume a continued uptrend. If trend fail, then possible fall to 114.500 at S2. Neckline comes in around 116.800 and pivot at 116.425
Comment:
Live Cattle has breached the neckline at 116.800 and touched pivot. continued selling to uptrend line and possible S1 support area at 115.250. New pivots tomorrow will rise the pivot for the next month, and S1 will become trend line support.
Order cancelled:
Broke out of h&s
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