cherokeeruby
Well-known member
August Feeder cattle closed limit down on Thursday due to
long-liquidation and filled last Monday's gap at 108.80.
Today's decline also led to a close below the 40-day moving
average crossing at 108.83. The limit down close sets the
stage for a steady to lower opening on Friday. Stochastics
and the RSI are diverging and turned bearish signal to a
double top has been posted and that a trend change might be
taking place. Closes below the 25% retracement level of the
May-June rally crossing at 107.51 would confirm a trend
change while opening the door for a possible test of the
June 14th reaction low crossing at 106.77 later this month.
More at http://quotes.ino.com/exchanges/?c=livestock
long-liquidation and filled last Monday's gap at 108.80.
Today's decline also led to a close below the 40-day moving
average crossing at 108.83. The limit down close sets the
stage for a steady to lower opening on Friday. Stochastics
and the RSI are diverging and turned bearish signal to a
double top has been posted and that a trend change might be
taking place. Closes below the 25% retracement level of the
May-June rally crossing at 107.51 would confirm a trend
change while opening the door for a possible test of the
June 14th reaction low crossing at 106.77 later this month.
More at http://quotes.ino.com/exchanges/?c=livestock