Omigosh....it sure was. Classic double top. But who knows, if world wide economies begin to rebound due to more central bank stimulus, this could end-up as a triple top ! However, I don't see that happening for more 6 months or longer .... At this point, the supply side has been measured pretty accurately. It's the DEMAND side that remains murky.
From my analysis, it'll rise to 149.5 again and sell off again. Besides, this small rally has been on half the volume of the sell off, so the sellers are clearly in control.
re: 149.50: CLOSE, very close. It hit 149.25 and then sold off pretty hard. Now down to 147....October.
Close to limit down on the live and feeder cattle today. Friday's Commitment of Traders shows more funds getting out of long live cattle positions.
I got in at the close of yesterday. I was tempted to cover today but I'm gonna hold to see if it goes to my intended price target.