After a pullback to test the descending 60 days ema, we might expect a decrease of April 2016 Feeder Cattle Futures
in the short term.
Patterns and Volume Spread Analysis
We can see that today's candle is exactly on the descending trendline
and that yesterday ended with a pseudo upthrust
candle), which, according to the Volume Spead Analysis
, represents a possible reversal setup.
Analyzing the Volume Profile chart
(which we set Daily for a period of 3 months), we notice a remarkable unfilled area below the current price level and we can wait for a retracement aimed at restoring the symmetry of the bell-shaped curve.
We can probably expect a short period retracement, but remember: this is not a trade solicitation and, if you decide to trade, you do it at your own responsibility.