NEWS
Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Sun May 3, 2015 09:55 AM CDT

Live Cattle: The June contract closed $2.025 lower at $149.175 last week. The market remains a mix of technical signals. Weekly stochastics remain bullish following the establishment of a crossover below the oversold level of 20% the week of February 23. On the other hand, the contract itself posted a bearish reversal the week of April 6 with its high ($154.675) a test of resistance at $154.825. This price marks the 67% retracement level of the secondary downtrend from $162.925 through the low of $129.425. The for the market to continue its sideways with resistance between $150.75 and $154.825, and ...

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