Live CattleApril Live Cattle continues building the bullish flag. May see an up day tomorrow as whenever there is a fall, it gets immediately bought back up. Next target for bulls is 122 area at 141.4% of Fib. Support at 116.175. This market could use a little more down to clear out RSI. Longby hopscotch1
Live CattleApril Live Cattle is creating a bullish flag setup. Based on previous flag setups for this uptrend, at least two bearish candles need to be created and then the up surge. This market is still a buy until trend is broken. Longby hopscotch2
Live CattleJune Live Cattle was a disappointment with only a little gain off the bullish flag. Now in overbought territory, we may see a fail here and lower prices. If bulls can push higher we may see 109.65 as next target for bulls. With a higher high and not a doji, it might be a little at a time for the upsideby hopscotchUpdated 2
Live CattleJune Live Cattle rises out of a large bullish flag. Next target for the bulls is in the 110 area and further up to 111.075 to complete the Butterfly. Longby hopscotch111
Live CattleJune Live Cattle fell today and outside the bullish flag. Still inside the mini Cypher pattern. Seeing this as still a bullish market until which time it turns. See prices play around the 105.350 area. Longby hopscotch1
Live Cattle another Bullish FlagJune Live Cattle maybe creating another bullish flag. This market is still bullish and remains in the 1/1 Gann Fan and is above the 20 day moving average. Will we see a fail tomorrow for lower prices? We should note that Live Cattle has made the top of the mini Cypher pattern extension. Longby hopscotch1
Live CattleJune Live Cattle moved higher today. It touched the mini Butterfly extension and traded back a little. We have updated the previous major Cypher harmonic pattern to a Butterfly seeing that this market is still bullish and within the 1/1 Gann Fan. Next target for bulls is 111.050. Longby hopscotch1
Live CattleJune Live Cattle was up aggressively today charging up to 105.40 breaking the downtrending wedge. The previous Gartley pattern that was inset is no longer possible. The new pattern is a bullish butterfly. Next target for bulls 106.375, and if they can pull it higher the 141 extension to 108.100. There is still a possibility that a double top can be formed here at 105.625 but seeing that this market has tried several times to go lower just to be kicked up higher, we don't see this as big possibility. Support at 103.700 position 3 of the elliot wave.Longby hopscotch1
June Live CattleJune Live Cattle supported prices at 104 Friday. There is a downward wedge here but prices came back Friday to negate some of this action. A potential small bullish Gartley pattern is taking shape to push prices down to 101.050 before continuing up. If bulls can continue this markets upward climb look for 104.725 as next potential target. If bears can sag this market, look for 102.700 as their target.by hopscotch1
June Live Cattle SupportedJune Live Cattle was up today. We still see this market bearish until proven otherwise. Next downside position for bears is below 103.70 to 102. Next long position for bulls is a double top at 105.75 or better. Shortby hopscotch1
June Live Cattle Moving LowerJune Live Cattle fell off the Cypher pattern and moved under the 20 day moving average to close near 38.2% retracement. Possible continuation lower to 50% retracement, then 61.8. Found first support from position 3 of the elliot wave. Next major support at 71.8 level created at th AB leg of the Cypher pattern at 101.050 and July 22 of last year.Shortby hopscotch2
June Live Cattle Looking LowerJune Live Cattle trending sideways to lower. Look for lower prices Monday. Watching to see if it goes and stays under the 20 day moving average for opportunity short side. June has completed both a cypher pattern and elliot wave. by hopscotch117
Live Cattle correcting before next run upIt looks like Live Cattle is pausing to correct before next run up. On the 2hr renko chart (blksz .50), the charcoal box represents what the 5min renko (blksz .25) expands out to. I think that the 5Min will need to go through a corrective cycle prior to price continuing up. Longby mxb19613
June Live Cattle Overshot ButterflyJune Live Cattle has completed a Bearish Cypher and Elliot Wave 1-5 position. Look for a possible downward trend to 100.650. Waiting for move below the 20 day moving average for confirmation. There is also a potential butterfly to 111.100 if this markets breaks out of 105.5. The overbought situation may counter any bullish move here.by hopscotch2
Live Cattle Hit First Butterfly to a TFeb Live Cattle hit the first butterfly exactly today at 116. This completes the Elliot Wave initially positioned. Second Butterfly may in the future. Elliot Wave can continue further up.Longby hopscotch3
Live Cattle Rises out of FlagFeb Live Cattle broke out of a flag pattern today and almost reached 116 and the final leg of the Elliot Wave. If we go back to 2016-08-11 and place another Butterfly, the potential upside could be 119 and then 126. This could extend Elliot Wave position 5 to 119. Beyond that you aren't within Elliot Wave general parameters. This market has touched overboughtness and may be coming to another end. Live Cattle still in the Gann Fann of 1/1Longby hopscotch4
Live Cattle Bullish FlagFeb Live Cattle created a bullish flag today. Potential upside to 116 is possible. Being Friday tomorrow, beer money sell might be in the future for this market. Will figure on cattle being in consolidation until proven otherwise.by hopscotch2
Live Cattle Showing DownturnFeb Live Cattle showed a negative cross suggesting a possible downtrend. Both parties battling. This market has shown a substantial overboughtness before and continue to move up. Caution depending on which way you play.Shortby hopscotch1
Feb Live Cattle Trying HardLive Cattle was up today stretching out and trying reach 116 but fell well short. Look for possible continuation or the end. Could achieve a slight more overbought before turn around. Bulls had up hill battle today. Look for the same tomorrow. by hopscotch3
Live Cattle Break UpwardsFebruary Live Cattle broke out of its triangle to move sharply up. Look for more price volatility and upward serge to 116 to complete the butterfly. Note Double top is in play here. Caution should also be in the mix. Longby hopscotch1
Feb Live Cattle Dug itself out of a holeFeb Live Cattle was a disappointment this morning as corn rose, but rallied back to produce a higher price. Look for progression Wednesday. Corn prices surged as sales in corn are up 39% over USDA projection. Cattle market could turn into chop if corn continues higher. Elliot Wave is still intact, but chop could weaken it substantially. Looking for Cattle to continue up and reach top of Cypher and possible continuation to Butterfly. Longby hopscotch2
Feb Live Cattle Held February Live Cattle showed weakness early and ended the day in a bullish cross. Looking for more upside tomorrow and through the week to move towards 116. Still believe that the Elliot Wave is still intact. Longby hopscotch2