Get started
hopscotch

Head and shoulders developing on April Hogs

Short
Lean Hog Futures (Apr 2019) (CME:HEJ2019)  
hopscotch Updated   
CME:HEJ2019   Lean Hog Futures (Apr 2019)
Pivot Points Head and Shoulders
2
0
pivotpoints headandshoulders
Hogs index started to rise beginning of week. April market well ahead of index. Head and shoulders appears to be developing. Right shoulder may climb a little higher before fully developing, or it may fall from here. Keeping a watch to see if market breaks pivot and stays above. R1 would be significant resistance at 71.325. Neckline at S1 66.325. Let's see what plays out. Drop shouldn't be too significant as last shoulder at the moment isn't that tall.
Comment:
Hogs have fallen through shoulder. On its way to S3 at 62.275. Hog index steady at 57.60 area.
Comment:
Head and shoulders reach S3 at 62.275. Hog index stalling at 58.50. We still may see a fall to 58.775 double bottom.
Comment:
Bear flag today. Possible continued downward move.
Comment:
Hogs fall off of flag. Headed towards 58 area.
Comment:
Engulfing buy bar today, but a huge amount of sells around pivot. Index continues to fall at around 57.12
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.