April Lean Hogs tried to rise out of the bullish flag today but was traded back into the flag. The low is higher than the previous low suggesting further upside. We may see this market go higher on Monday. Next target for the bulls is 70.750 to complete the large Cypher pattern and enter into the smaller Cypher's extension.
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Lean Hogs produced a lower high Tuesday and trying to exit bullish flag. Minor Cypher pattern has been achieved. Caution should be taken for any upside movement. Market is overbought. Possible downside coming.