Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Sun Oct 4, 2015 05:11 PM CDT

Live Cattle: The December (most active) contract closed $5.625 lower at $131.375. The contract moved to a new low of $128.10 before rallying Friday, similar to what was seen the previous week. Despite bullish weekly stochastics, the secondary (intermediate-term) trend remains down with major (long-term) support at $126.50. The market is nearing a bullish change in trend on both its weekly and monthly charts.

Feeder Cattle: The November contract closed $7.075 lower at $174.525 last week. The contract posted a new low $169.10 last week, moving toward a test of major (long-term) support at $165.60. This price marks the 50% ...

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