April Live Cattle
A small-town sheriff in the American West enlists the help of a cripple, a drunk, and a young gunfighter in his efforts to hold in jail the brother of the local bad guy is the theme of an 1959 John Wayne movie named Rio Bravo. In the April live Cattle the villain has also come a knockin as we have know reached what I believe to be the line in the sand holding the tyrant at bay. A slip into the depths below 1114 (weekly close) has the potential to send this contract the stumbling. I currently contend that an hourly close above 116.20 will go a long way in convincing me that this line has a a chance to hold. Were this able to play out the cows will attempt run at +/- 117.100. I’d be expecting some pressure here. On a daily basis this is the location that’ll have to be breached in order to keep any rebound moving along. Looking down the road any sustained advance will take aim at roughly 1118.900. Follow along with me as I attempt to stay ahead of this and other future markets.
My analytical breakdown focuses on a blend of wave pattern recognition, long and short term geometrical extensions and momentum signal interpretation. Please feel free to contact me at Walsh Trading to discuss my insights into this or any market of your interest.
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