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Technical Analysis - Using the attached Weekly-Nearest Feeder Cattle Contract prices chart answer the following questions. Prices are as of November 4, 2016. Ensure you

Technical Analysis - Using the attached Weekly-Nearest Feeder Cattle Contract prices chart answer the following questions. Prices are as of November 4, 2016. Ensure you label your responses on the graph accordingly.

A. Identify any support formed in 2010-13 that are in place at the end of 2016. What are the price levels?

B. What does the technical picture communicate about the likely direction of feeder cattle price movements? Do you have recommendations? (The correct answer uses technical information.) Explain your answer in detail.

image text in transcribed

GF Feeder Cattle Weekly Nearest OHLC Chart op: 121.975, Hi 127.350, Lo:120.800, CI 125.625 20K Vol: 10,804 Open Interest: 33,730 15K OK 5K OK 2011 2012 2013 2014 2015 2016 250.000 240.000 230.000 220.000 210.000 200.000 90.000 180.000 170.000 160.000 150.000 140.000 130.000 125.625 20.000 110.000 100.000 60K 50K 40K 30K 20K

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