December Live Cattle Head and Shoulders
Updated
Dec Live Cattle is building out a H&S. Break out above R2 at 118.375 will cancel this move. R1 at 117.625 has become substantial resistance. If H&S comes to fruition, fall back to upward trendline and we would assume a continued uptrend. If trend fail, then possible fall to 114.500 at S2. Neckline comes in around 116.800 and pivot at 116.425
Note
Live Cattle has breached the neckline at 116.800 and touched pivot. continued selling to uptrend line and possible S1 support area at 115.250. New pivots tomorrow will rise the pivot for the next month, and S1 will become trend line support.Order cancelled
Broke out of h&s
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