So here we have a daily and a weekly (right panel) chart, which show there has been a "real Bull in the Cow" :-)
Weekly: With nice pullbacks and with counter trends Live Cattle price has been trending up since 2010. In 2014 the move accelerated and Cattles recently reached all time high level. Not to meantion, they have become a bit overbought. Probably that's...
Live Cattle is retracing into a current strong support area. You can see how this horizontal support was tested as resistance in September, followed by a touch on the backside after a breakout at the end of that same month. This should provide a strong possibility for support in the coming days should we move lower into this area.
The target is therefore a...
Live Cattle (LC) has topped and is reversing. Typically we see seasonal highs in late April / early May (5 years and 25 years patterns). Price pattern is also supportive. 50MA crossed on 17April2014. Targeting 130.450 by the end of April2014.
Live Cattle (LC) has topped and is reversing. Typically we see seasonal highs in late April / early May (5 years and 25 years patterns). Price pattern is also supportive. Downward movement should be quite fast, between the 1/4 and 1/2 bear Ganns.
Live cattle is coiling and seems ready to break out to the upside. Lower trendline is giving support. I'm entering in advance here targeting 137.000.
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Live cattle is at historical highs. 134.0-134.5 is giving good resistance. Price is poised to move towards the 2/1 Gann line. First target objective 130.75 but a long term downtrend is in the cards.
Bullish seasonal projection supported by chart pattern. A clear bull flag has formed during the last 5days. Breakout to the upside would confirm the buy signal with a target objective at the intersection point of the 1/2 and 2/1 Gann lines (approx 126.000)
Sell Dec12 cattle at 127800 stop. The price double crossed the 20EMA and median line. The price should fall to the next support level in one or two days. Target objective 126700.
