MURICO.com Forum

Cattle Monthly *PIC*

It would be tough sale here if it were to close above those two green lines here in Aug....Sept is a directional change...but that could also mean a strong move in the current direction. The next high aggregate is in Feb., so this could trade up into that if this directional change is a large move to the upside in Sept. The monthly sets the trend...and this monthly is entering into a break out mode.

The weekly chart is in break out mode...with a target of Oct 3 for the next turning point...the week of Sept. 5th could be a high and trade down to the high aggregate on Oct. 3rd for another turn to turn it back up to head to the monthly high aggregate in Feb.

If the week of the 12th turns down then you would have a two week correction into Oct. 3rd

Daily is possibly forming a reaction high...which is limited to 1-3 days down.

We're sideways to slightly down as long as we stay below the trend line drawn from the Nov. 2014 high and the subsequent high of of Feb 2022...A move above that line would be bullish...see blue trend line on all charts.