The system got in real good on the GF March contract at 2.06 level as per the blue arrow on the day chart copied below. If Feeder Cattle closes > 2.20 level, I could envision the April contract moving to the 228.5 Monthly Resistance (Brown dashed line), in line with the ‘down trend line’ (blue line), converging into 2.30 level come April. The Strongest resistance is the Quarterly 2.36175 level (Green dashed line). Now, that all looks good, but 2.20 could be a tough area on the chart as it served as monthly support under the market from Oct/14 – Jan/14, so it should now serve as a more imbedded resistance level. The Live Cattle market also looks good and so we should look for potential weakness from the Live Cattle futures as an ominous sign for the Fed market.
Futures Trading 