April live cattle futures a fresh buying opportunity on more price strength.

See on the daily bar chart for April live cattle futures that prices are in a choppy, nearly three-month old uptrend and just last week hit a fresh contract high. The cattle bulls have the solid near-term technical advantage to suggest still more upside price action in the near term. A move above near-term technical resistance at $137.50 would become a fresh buying opportunity. The upside price objective would be $140.00, or above. Technical support, for which to place a protective sell stop just below, is located at $136.25.

TP_122412.gif