February Cattle surged to a new all-time high on the January 18th projected reversal date, but failed to hold the earlier gains and closed near the low of the daily session. The long tail, on the reversal dated price bar, warns of a swing pattern failure. A conformation on the swing pattern failure could signal a major top in the cattle, that could hold for a long time into the future.
This major reversal date was projected several days in advance using the “action-reaction” theory, combined with the reversal date indicator. To learn more about this indicator, go to www.tradersnetwork.com
