Live Cattle Special Update 9/24/24

Live Cattle
October and December have both hit the short term target of 61.8%.

Here is what to look for now.

October
From last week,

It was a quiet week and while not making a new low around the 78.6% retracement at 174.92 can be the base of the next bull move, it has been unable to get through 38.2% at 179.60 to turn the trend positive. All of the Above/Below levels remain the same for this week.

Use 179.60 as the swing point for the week again.

Above it, turns the short term trend positive and we will look for 61.8% of the same move at 183.20.

December
From last week,

The lows on 8/21/24 and 9/9/24 held 61.8% on the continuation chart at 173.32, this was also a major Gann square. The long term target is 61.8% the other way based on the ONE44 61.8% rule. Today it hit 38.2% back to the 3/14/24 high at 180.45.

Use 180.45 as the swing point for the week.

Above it, turns the trend positive and the short term target area is 61.8% at 184.60 and the 185.29 major Gann square.