MARKETS NEWS
Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Thu Oct 31, 2013 11:14 AM CDT

To say live cattle have been bullish recently is an understatement. The market has been screaming higher, with the nearby December contract taking out the previous high of $134.50, albeit only by a few ticks, earlier this month. This would indicate the market remains in a major (long-term) uptrend, raising the question though of how much longer it will last.

Monthly stochastics (bottom study) show the market is approaching the overbought level of 80%. However, this doesn't automatically mean live cattle will be headed lower. Look back over the recent history of monthly stochastics, closely if you can, and you'll ...

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