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Theodore, Saskatchewan | Just thought I would look at the weekly cattle. Sorry lines of similar color are confusing but needed to do a quick chart.
You can see the multi year uptrend and we are moving up. Thinking energy stored (orange) and energy released (red). The previous steep fork it struggled up the bottom line all the way and when it finally got close to the median line it puked.
We went on to make a higher high and a higher low each time. My concern is that it just may run up the bottom line again right to 150 if it really wants to, release energy that it has been storing for the last year and then puke right back to where we are today, but that may be a year from now. Then it will establish the "new trading range" similar to corn and beans. The high corn and feed prices for such an extended period of time is what will really add power to this cattle bull market.
Now time will tell........
 (1-Fullscreen capture 06122012 11945 PM.jpg)
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cole sibley....chart update
