Live Cattle: More Cow Bell

August Live Cattle 

     A robust move in early weeks price action. Employing Elliot Wave Theory I have currently labeled the low at roughly 113.300 as a iv wave extreme of a v wave advance which commenced in October of last year. Mid-level overhead resistance comes in at +/- 121-121.500. A close above targets recent highs which if count is correct will be breached. Upside projection comes in at +/- 130.00. A close below 115.000 would negate this outlook.