Pro Farmer Technical Analyst Jim Wyckoff says cattle bulls still have the overall near-term technical advantage. However, strong followthrough selling on Friday begins to suggest a market top is in place. Bulls' next upside price objective is to push and close prices above strong resistance at the contract high of $160.75. The next downside technical breakout objective for the bears is pushing and closing prices below solid technical support at $155.00.
Learn more about how Wyckoff rates the market at this link.