Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Wed Aug 20, 2014 08:01 AM CDT

The feeder cattle market has seen its fortunes change over the course of the last few weeks. As its weekly chart shows, the more active October contract has fallen back from its high of $224.35 (posted the week of July 28) to a low this week of $211.00. And while no price chart damage has been done -- yet -- the contract is in position to establish a secondary (intermediate-term) topping pattern.

Note the relationship of this week's low to that of the four-week low of $210.70 (top chart, dashed red line). A move below this level yet this week ...

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