Lean Hogs Approach Techncial Resistance. Time to Breakout?
Lean Hogs
Technicals (July): July lean hogs were able to find follow-through momentum yesterday, inching closer to the pile of technical resistance. Trendline resistance from the March 31st highs and the 50-day moving average come in at 110.675, which comes right in line with the June 8th high. This will be a big hurdle for the Bulls to overcome. If they can, there's more roadblocks from 112.75 to 114.00.
Resistance: 110.675-111.00****, 112.75***, 114.00-114.825***
Pivot: 106.75-107.00
Support: 103.35-103.70****, 101.30-101.60**, 97.375-98.00****
Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
Technicals (July): July lean hogs were able to find follow-through momentum yesterday, inching closer to the pile of technical resistance. Trendline resistance from the March 31st highs and the 50-day moving average come in at 110.675, which comes right in line with the June 8th high. This will be a big hurdle for the Bulls to overcome. If they can, there's more roadblocks from 112.75 to 114.00.
Resistance: 110.675-111.00****, 112.75***, 114.00-114.825***
Pivot: 106.75-107.00
Support: 103.35-103.70****, 101.30-101.60**, 97.375-98.00****
Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.