NEWS
Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Sun Feb 1, 2015 06:02 AM CST

Live Cattle: The February contract closed at $146.65, down $11.275 on the monthly chart. The major (long-term) trend remains down following the bearish crossover by monthly stochastics at the end of December. Initial support is pegged between $141.85 and $137.30, prices that mark the 33% and 38.2% retracement levels of the previous major uptrend from $79.975 (March 2009) through the high of $172.75 (November 2014).

Feeder Cattle: The March contract closed at $205.20, down $12.125 on the monthly chart. The market extended its major (long-term) downtrend established with the bearish crossover of monthly stochastics at the end of October 2014. ...

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