NEWS
Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Mon Feb 1, 2016 04:13 AM CST

Live Cattle: The April contract closed at $134.00, down $2.80 on the monthly chart. The market remains a mix of technical signals. However, its major (long-term) trend may best be described as sideways in the wide range between resistance near $138.90 and support near $126.50. Monthly stochastics still have not established a bullish crossover below the oversold level of 20%, possibly indicating another round of pressure could be seen.

Feeder Cattle: The March contract closed at $157.25, down $6.40 on the monthly chart. The market continues to indicate it has moved into a 5-Wave uptrend (Elliott), though Wave 1 may ...

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