Will The Relief Rally Continue?


Live Cattle (December) In yesterday’s report and on RFD-TV we talked about the last two times the market was as oversold as it was on Friday; September 13th and October 19th. Both times offered a short-term relief rally. The market closed right in our pivot pocket; we’ve defined that as 127.825-128.30. If the Bulls can chew through this pocket, we could see an extension towards 130.75-131.575. The Managed Money (Fund) position is very neutral, so if we can get a.....Click here to get our (FULL) daily reports emailed to you!

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Support: Feeder Cattle (November) November feeder cattle ran higher yesterday, finishing right in our pivot pocket from 154.825-155.35. As with live cattle, if the Bulls can chew though this pocket, we could see an extension higher, potentially back near the 160 handle. The first hurdle before the psychologically significant 160 handle is.....Click here to get our (FULL) daily reports emailed to you!

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Support: Lean Hogs (December) December lean hogs filled one of several gaps on the chart. Our pivot pocket from 83.65-84.00 will be watched closely, a failure to reclaim ground above this pocket could lead to a bigger retracement of the recent rally. Our first support pocket comes in from 81.075-81.525. This pocket represents the 100-day moving average, along with other previously important price points. Below this is.....Click here to get our (FULL) daily reports emailed to you!

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