Consider Buying a Put Option on December Live Cattle Futures
See on the daily bar chart for December live cattle futures that prices have pushed to a new high. However, the Relative Strength Index has also pushed into overbought territory (above 70.00). The last time the RSI pushed above 70.00 the market put in a near-term top. Also, there now exists the potential for a big and bearish double-top reversal pattern on the daily bar chart. Consider buying a put option on December live cattle futures, with a downside price objective of $148.00 or below. The option expires in early December.
