July Lean Hogs had a couple of days of craziness and seems to have settled down a little after H&S fall. It has met the 74.225 H&S target, and crashed through that today. Left a good strong bar down. Next downside target at 72.45, and double bottom at 67. New setup is a bullish butterfly.
Comment:
Hogs continues its downward decent. Looking for 72.40 next target. Because of the candle made today, caution should be noted. Equal ends of the candle suggests a pull both ways by bulls and bears. RSI is oversold.
Comment:
Hogs down again. Moving toward 72.40
Comment:
Another step down for hogs breaking 72.40 and closing in on the bullish butterfly at 71.500. After that we would be into a butterfly extension.
Comment:
Hogs has created a bearish flag yesterday and is trying to sell to complete Bullish butterfly. Next downside target is 73.00
