A play on both higher meat prices and lower grain prices, Live Cattle registered a weekly double bottom through this past week when it traded up through 122.95. CRI's current Weekly Commodity Trend Survey is long from 122.95 with stops should be just below 120.375. A 50% retracement of the 2013 sell off would bring prices back into the 126.50 and shall be the initial target.
Komentar
CRInvestor
⋅
A monster gainer. Targets hit (OTE Short Sweet Spot) at 129.675 or about 7 points (at $4 per point) that's $2800 per contract......wtg CRI.....
CRInvestor
⋅
Cattle keeps charging higher! Move stops to just under last week's lows at 124.20. Daily ab=cd bull price pattern suggests a target in the 131 area [(127.25-120.45)+124.30=131.10] which corresponds nicely with our projected Right Shoulder target in and around the 132 area...
CRInvestor
⋅
09/06/13: Initial target (126.2375) hit. Stop to break even