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Livecattle

Live CattleJune Live Cattle was up aggressively today charging up to 105.40 breaking the downtrending wedge. The previous Gartley pattern that was inset is no longer possible. The new pattern is a bullish butterfly. Next target for bulls 106.375, and if they can pull it higher the 141 extension to 108.100. There is still a possibility that a double top can be formed here at 105.625 but seeing that this market has tried several times to go lower just to be kicked up higher, we don't see this as big possibility. Support at 103.700 position 3 of the elliot wave.
CME:LEM2017Long
by hopscotch
ARSUSD: Long pesos, yes...long.Here I am with a little contrarian idea. There's a nice 15% spread to be filled when comparing the Argentine peso to the other South American economies. The stock market also took a nose dive and is poised to retrace, since it's possible that live cattle and soybeans will head up from this point (and the Merval has a healthy correlation with those two among other agriculturals, for obvious reasons). That being said, to my fellow countrymen, this is a nice low risk trade, upside is 15%, downside is merely 2%. Sell dollar for 13, buy back at 10-11, give or take, and or invest in other assets once we reach that target. Good luck, Ivan Labrie.
Long
by IvanLabrie
2