Livestock Futures--- Livestock futures in Chicago are mixed today with lean hogs in the July contract trading higher for the 3^rd straight trading session and I’ve talked about in many previous blogs stating a bullish position hitting another 4 month high up 40 points currently trading at 96.30 continuing its bullish momentum on the fact of increasing demand with a very bullish technical trading pattern as well.

Livestock Futures--- Livestock futures are lower across the board in Chicago this afternoon with live cattle for the August contract trading below its 20 and 100 day moving average with a possible double bottom on the daily charts at 118 also in a 3 week consolidation down around 50 points at 119.62 a pound and if you’re looking to take a shot to the upside my recommendation would be to buy a futures contract at today’s level & place a stop lo

Double Bottom & Double Tops---This indicator is one of my favorite patterns that signals a trend reversal because its considered to be one of the most reliable and is commonly used by many technicians. These patterns are formed after a sustained trend and signal to chartists that the trend is about to reverse. The pattern is created when a price movement tests support or resistance levels twice and is unable to break through.

Livestock Futures--- Livestock futures in Chicago were mixed with live cattle for the June contract up 107 points currently trading at 123.55 a pound right near 4 week high with major resistance at 124.20 and it looks like to me that a bottom may have been formed in the live cattle futures market as the commodities in general rebounded sharply due to the fact that more money printing throughout the world is occurring with another rate cut in Europe this mor