by Peter Karaverdian
The Cattle complex is being supported at the moment with a daily swing low that held at 111.55 on January 14th. Still looks strong from here. Not much fundamental out there supporting Live Cattle except the colder blizzards up north in the plains that affects the stock. So, it appears the weather may have slowed the selling down. Midterm targets can exceed to 115-116’s at daily swing high resistance, then test either breakout from there or a reversal.
Must play these markets with what we see and a little bit of what we hear. When you see something not working, GET OUT, or REVERSE. Simple as that. Do not marry the trade.
Below please see the attached Daily and Monthly charts. Daily charts have our swing high low supports. You can see we sold prior 7 days in a row on cattle. Our monthly regression channel showing more room and support up.
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