There's a potential Head & Shoulders Top forming in the Aug Feed Cattle. Look to get short below 100.125. The target would be around 97.575 with an initial stop at 101.80. This trade set-up would have a risk of 825.00 and a reward of 1285.50 (1.56 ratio). MACD has a possible bearish cross and a previous swing low was taken out, which supports this set-up. Obstacles to this trade include the 38% retracement and 20 EMA at the breakout level, and a bullish RSI (+50). Let's see what happens tomorrow.
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