This report was sent to subscribers on 12/14/09 6:00 p.m. Chicago time to be used for trading on 12/15/09. Everything is done by Howard Tyllas, no program or black box.
After the close on 12/15/09: My resistance was 10.80, just .01 1/2 from the actual high, and my pivot acted as support and was 10.49, .03 1/2 from the actual low.
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85.27 --------------84.27 FG Pivot 83.27 FG 82.17 FG Trend 88.52 is the 200 day MA 5 day chart....…. Up from last week same day Daily chart ……….Down Weekly chart …….. Sideways Monthly chart …... Sideways ATR .82 Overbought 85%
--------------84.27 FG Pivot
Trend 88.52 is the 200 day MA
5 day chart....…. Up from last week same day
Daily chart ……….Down
Weekly chart …….. Sideways
Monthly chart …... Sideways
ATR .82 Overbought 85%
February Cattle (elec.) for 12/15/09:
Major resistance is the steep downtrend line near 84.70, and then the gap at 85.25. Support is the gaps at 83.27 and at 82.17.
Notice how I use the open outcry chart to locate gaps, but I do my numbers for the electronic market as always. Open outcry is where I find the major players doing business.
In my daily numbers on Monday; my resistance was .20 from the actual high, my pivot acted as support and was .32 from the actual low
Cattle: Accurate numbers. Bulls are trying to get above the gap resistance. I would still sell against the gap but would use a buy stop just above. I would try and sell against the resistance if stopped out. Bulls need the market to close above the long term downtrend line to have a chance to get above the October highs and regain control of the market.
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