April live cattle closed down $0.37 at $90.17 yesterday. Prices closed near mid-range yesterday and were pressured on profit taking from recent gains. Bulls still have the overall near-term technical advantage. A seven-week-old uptrend is still in place on the daily bar chart. Bulls' next upside price objective is to push and close prices above solid technical resistance at last week's high of $91.35. The next downside technical objective for the bears is pushing and closing prices below solid technical support at $89.00. First resistance is seen at yesterday’s high of $90.60 and then at $90.90. First support is seen at yesterday's low of $89.85 and then
at $89.50.

Wyckoff's Market Rating: 6.0.

Source: VantagePoint Intermarket Analysis Software

Call now and you will be provided with FREE recent forecasts
that are up to 86% accurate * 800-732-5407
If you would rather have the recent forecasts sent to you, please go here

March feeder cattle closed down $0.82 at $98.77 yesterday. Prices closed near the session low yesterday and were pressured on profit taking from recent solid gains. Prices are still in a solid seven-week-old uptrend on the daily bar chart. Bulls still have the overall near-term technical advantage. The next upside price objective for the feeder bulls is to push and close prices above solid technical resistance at the September high of $101.55. The next downside price objective for the bears is to push and close prices below solid technical support at $97.50. First resistance is seen at yesterday's high of $99.35 and then at $99.70. First support is seen at yesterday's low of $98.65 and then at $98.40.

Wyckoff's Market Rating: 6.5

April lean hogs closed down $1.47 at $70.50 yesterday. Prices closed near the session low yesterday and hit a fresh two-week low. More profit-taking pressure from recent solid gains was seen yesterday. No serious chart damage has occurred the bulls are now fading and need to show fresh power soon. Hog bulls still have the overall near-term technical advantage. The next upside price objective for the bulls is to push and close prices above solid chart resistance at last week's high of $74.25. The next downside price objective for the bears is pushing and closing prices below solid technical support at the December low of $68.17. First resistance is seen at $71.00 and then at yesterday's high of $71.80. First support is seen at yesterday's low of $70.45 and then at $70.00.

Wyckoff's Market Rating: 6.5

February pork bellies closed down the $3.00 limit at $83.50 yesterday. Prices hit a fresh six-week low yesterday. Serious chart damage has been inflicted the past two days. A choppy six-week-old uptrend on the daily bar chart has been soundly negated. The next upside price objective for the bulls is pushing and closing prices above solid technical resistance at $87.00. The next downside price objective for the bears is pushing and closing prices below solid technical support at the December low of $80.50. First resistance is seen at $84.00 and then at $85.00. First support is seen at $83.00 and then at $82.50.

Wyckoff's Market Rating: 4.0