December Live Cattle Bearish
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.
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Cattle may be trying to create bearish flag this morning. Will know more as the day progresses and market closes.
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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.
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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
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Cattle has turned north targeting channel top or double top at 117.600.
