Is It Time to be Bullish on Cattle?, (part III)
Here is an update on my cattle-call (yuk, yuk)
First post from April 5: Is It Time to be Bullish on Cattle?
I said this:
binve says "Moo" [translation: If it makes a higher low at support ~64-65, then there is an inverted H&S setup that targets ~80, which is also the 38% retrace from the top]..... cows have a very concise language, leaves more time for grazing.
Second post from June 16: Is It Time to be Bullish on Cattle?, (part II)
The ETN COW is showing a similar pattern. It somewhat tracks this underlying index (i.e. it is supposed to but doesn't do a very good job all the time).
So, is it now time to be bullish on cattle? binve says "Mrraaa Mrrooooo mo moo Moooo" [translation: yes]
And here is what it looks like today.
So, is it now time to be bullish on cattle? binve says "munch munch chew chew" [translation: Uhhhh, yeah. Where have you been.]