NEWS
Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Thu Jan 1, 2015 08:50 AM CST

Live Cattle: The February contract closed at $163.55, down $5.675 on the monthly chart. A bearish crossover above the overbought level of 80% by monthly stochastics indicates the major (long-term) trend has turned down. However, the futures market has seen a number of similar signals over the course of 2014 fail to bring about an end to the major uptrend. The February contract was able to rally off its monthly low $155.10, a price that now acts as support. Resistance remains at the November high of $172.75.

Feeder Cattle: The March contract closed at $217.325, down $13.75 on the monthly ...

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