February live cattle futures a selling opportunity on more price weakness. See on the daily bar chart for February live cattle futures that prices sold off sharply Monday. A move below solid chart support at this week’s low of $169.35 would produce near-term technical damage and give the bears fresh downside technical momentum. It would also become a selling opportunity. The downside price objective would be $161.00, or below. Technical resistance, for which to place a protective buy stop just above, is located at the contract high of $172.75.

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