Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Fri May 1, 2015 05:59 AM CDT

Live Cattle: The June contract closed at $149.70, down $2.625 on the monthly chart. The major (long-term) trend remains down with support between $141.85 and $137.30. These prices mark the 33% and 38.2% retracement levels of previous uptrend from $79.975 through the high of $172.75. Secondary resistance is pegged at $155.65, the 38.2% retracement level of the initial sell-off from the $172.75 high through the March 2015 low of $145.075.

Feeder Cattle: The August contract closed at $21.70, down $2.20 on the monthly chart. While the major (long-term) trend remains down, the market has seen a retracement rally leading to ...

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