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a.) Livestock has been in a rally since the beginning of December (a). Notice that as prices have risen they have consolidated in near perfect downward sloping pennant patterns (b), after which prices broke through previously established resistance levels (c). The EMA picture is bullish (d) -- all the EMAs are moving higher, the shorter EMAs are above the longer EMAs and prices are above all the EMAs (also note that prices are using the EMAs for support). Finally, there is momentum, which peaked at the end of March and may be slowing moving lower.
