December Lean Hog is building out a Bearish Gartley pattern. Resistance comes in at 63.150. It came close to here a couple of times and looks like it wants to try again. If broken upside target is around 63.775. Big time resistance coming in at 64.250. If bulls can break this and stay above it, could be seen as another significant uptrend.
Comment:
Lean Hog came close to the target and sold off today, but created at hammer. Another leap upward may be in store for Tuesday, or a complete break down to 62.250.
Trade closed: target reached:
Hogs dropped off the Gartley yesterday and today. Hit uptrend line. Looking for a new direction Friday. May get a doji.