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Buxton ND | The last inland top we had was later Oct. early Nov. LEZ15 lost $25 in the aftermath. An Island top is very rare, very bearish, PLUS this one was topped off with 2 gap lower.
Friday LEJ made what I'd call a major KR = Key Reversal,,,,,,,, this after touching the 100 day @ 136.07, Friday's high was 136.12 its doesn't get any closer then that. Friday's report looks bearish to me, I DO NOT count what the trader do does. A big rally into a bearish report, Then the KR, we must not open below 132.55 on Monday's open as that would make a gap lower and another island top and would point to a new life of contract low.
If your hedged I would stay hedged. Other then that I really do not have an opinion. | |
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Cattle
