December Live Cattle Breached 20 Day MA
Live Cattle moved above the 20 day MA yesterday and today showed more promise of an upside. Has moved across pivot and eyes R1 at 116.275. Bearish butterfly possible pattern. That will take us into next month. RSI should take us across R1 and possibly R2.
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Cattle had a down day today but didn't breach MA. continued watch.
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Cattle just doesn't like being under 111.625 and the 20 Day MA. Although initial pattern has been compromised, we see a rise to R1 still. Monday will tell the tale.
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Cattle looking like it might climb again. Fighting pivot position for bears and bulls at 112.925
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Live Cattle still moving horizontally, but has now broke through the 20 day MA and stayed below. Since this market is very up and down and untradable until direction, Tuesday may show further downside. New pivots tomorrow as well.