Weekend Review

DEC LIVE CATTLE
No Trend
RSI Trending Lower
MACD bearish cross
Nearest Support 83.425
Nearest Resistance 88
Bias: The potential is there for a 1-2-3 bottom, but we need to see strength without seeing support broken.

DEC HOGS
Hogs are in need of correction lower, but the trend is still up.
Trend is up
RSI trending lower from overbought levels
MACD bearish cross
Nearest Resistance 58.4
Nearest Support 52.225
Bias: With indicators coming off of overbought levels and showing a little weakness, long should be on the defensive. The trend is up however, look to continue buying.

MAR SOYBEANS
I’m now watching March Soybeans. Mar beans on Friday confirmed a bearish A-B-C top. Look for pressure.
Trend is Down
RSI is trending lower
MACD bearish cross
Nearest Support 891 (Double Bottom)
Nearest Resistance 1025
Bias: Given all the indicators have turned bearish along with a confirmed ABC top. Sell


DEC CORN
We have gotten our wave 4 correction lower, but possible bearish top is looming.
Trend is Up
RSI is trending lower
MACD bearish cross
Nearest Support 358.75
Nearest Resistance 413.5
Bias: Depends on the breakout. A break of either resistance or support should reveal direction. A break of support will confirm the A-B-C top and trend lower. A break of resistance will be a wave 5 trend continuation signal.