October Live Cattle Futures a Selling Opportunity on More Price Weakness
See on the daily bar chart for October live cattle futures that prices are in a choppy and sideways pause mode, after trending lower earlier in August. This pause is not bullish and hints that a fresh leg down in price action may be coming soon. A move below chart support at $147.00 would become a selling opportunity. The downside price objective would be $140.00, or below. Technical resistance, for which to place a protective buy stop just above, is located at $150.00.
