Weekly Cont. Cattle: So far the Parallel uptrend line based off the 2019 low has proved to be a strong action/reaction line.
**Cycle high/low targeted the week of 3/29 and appears to have done the job. Next cycle date will target the week of (or around) 8/02 to place a swing high or low….Range bound support is the gray bubble and resistance is the Yellow bubble. Outside risk is the red bubble and Outside resistance is the blue bubble. Will watch current front month charts for direction to fine tune targets.
Any of the lines on the chart could act as support/resistance (or action/reaction lines)
**Cycle high/low targeted the week of 3/29 and appears to have done the job. Next cycle date will target the week of (or around) 8/02 to place a swing high or low….Range bound support is the gray bubble and resistance is the Yellow bubble. Outside risk is the red bubble and Outside resistance is the blue bubble. Will watch current front month charts for direction to fine tune targets.
Any of the lines on the chart could act as support/resistance (or action/reaction lines)
