December Lean Hogs Mutiple setups

Long

Lean Hog Futures (Dec 2018) (CME:HEZ2018)

Updated

CME:HEZ2018 Lean Hog Futures (Dec 2018)

pivotpoints headandshoulders elliottwaves

Dec Hogs took a run at the ever increasing index now at 69.31 for the Oct contract. This appears to be heading for a double top. We have a few things developing for Dec. In short term a possible head and shoulders bring it down to S2. In long term we have a Elliot Wave in its 3rd position. New Pivots have formed for the month of October. If this market explodes further upwards we would be heading for a double top at 66 for Dec.

Comment:

Hogs still within the mini H&S. Now below the 20 day MA. Still needs to break neckline for it to move to S2 at 53.425

Comment:

Hogs breaks through H&S neckline. Target S2 at 53.425, then 52.00

Comment:

Hog index now stalling at 69.36

Comment:

Hog Index dropping to 68 and prices for Dec are finding resistance at R1. H&S may expand outwards and still have another potential drop.

Comment:

Hogs below neckline to start the day. Target S3 at 51.425

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