binve says "Moo" [translation: If it makes a higher low at support ~64-65, then there is an inverted H&S setup that targets ~80, which is also the 38% retrace from the top]..... cows have a very concise language, leaves more time for grazing.
Here was the chart from the last post
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjrVeyl0giFILQBGYLD618Vf6cjgGDKoaIlneoR_IXTk3nCDqocJTGy5ed9K9ojOm9R2XGfmhMzeZFkMI5BF7MwK8tgrWHmsNIq1f-qyzfPQjp_B_jWVEYdjYOTGsF1I_H1pJEL1TwYOOhZ/s320/0binve-001-201.png)
The last week has been showing a bottom being put into place where I was anticipating. Here is what the chart looks like today:
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhwnvWJLeXKuuDzVxDS6qOnF90xg10vvbxYMk4PTXMyIItddSk80hS2_CErJ67OyyvzRjf0CpL7wssH9Opc1yfjskaeXaJe5qQw2i5H3J_QvIu1Hcbd-woGttz5JgvbR365tSdOOTDXkTvf/s320/0binve-001-201.png)
The ETN COW is showing a similar pattern. It somewhat tracks this underlying index (i.e. it is supposed to but doesn't do a very good job all the time).
So, is it now time to be bullish on cattle? binve says "Mrraaa Mrrooooo mo moo Moooo" [translation: yes]
Disclosure: I am long COW