The hog index continues to fall now at market today. Expect continued move downward. Retracement is at the 20 day MA. We are in a fall from a double top at 67.675. Upward trend line would have to broken and stayed below for a complete fall to occur. First target would be back to S2 at 58.375. RSI trend is down for now.
Comment:
20 day MA holding for hogs move higher. Waiting for fail or break above and held above the 20 DMA. There could be a bear flag here.
Comment:
Hog index steady at 53.12 or there about. This upswing isn't gaining any momentum. Still expecting a fall here.
Comment:
Pivot must be broken and stay above for any further upside. S2 might be a more tangible move. Market below the 20 day MA.