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Barchart
Jim Wyckoff

Get Ready for Cattle Prices to Keep Falling as Crude Oil Pops Higher

Oil

October live cattle (LEV26) futures present a selling opportunity on more price weakness.

See on the daily bar chart for October live cattle futures that prices are in a fledging downtrend and on Friday hit a three-week low. See, too, at the bottom of the chart that the moving average convergence divergence (MACD) indicator is in a bearish posture as the blue MACD line is below the red trigger line and both lines are trending down.

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