Not only have we retraced up from a huge sell of last week, (profitakers?) We also have hit a resistance area for the last two days at 65.125. Seasonality is showing a 15 year solid short gain on the June/August Contract. With most possible entries in the current, this play should be considered in action. Thanks for reading
This huge trade idea was published last Sunday on barchart, I forgot to publish it here as I am new here. You all saw what happened to Lean Hog This last week. I'm looking for a continuation trade this week. Let's see what happens.
A long red candle has formed on the daily chart. A strong gap down, however, I identified a volume cluster just below the current price. If buyers are strong, they will push the price up again. A strong demand zone is also just below the current price.
Our target is 1 to 1, and the stop is a close, on the daily chart, below the lower line.
Leans Hogs is on a strong rejection this first few session of 2020, after the top on the 72.100 1D Resistance. The price is currently testing the 1D MA50 (blue line) which has been acting as the pivot since October.
With the long term Higher Low trend line (since August 2018) providing Support, we are expecting a bounce on the 61.400 Symmetrical Support back...
April and July are key months in price action for lean hogs. This past year it seems people got smart and tried to pre-trade the historical trend, as evidenced from the earlier upswing to the earlier downswing.
Price may end the correction of the primary long trend with yesterday's marubozu candle. Important levels are shown in the chart, and if the price closes above 80, it has a chance to reach above 100. Target zone is at 114-123. This is a long term prediction on HE2!
Hi guys,
Long:
LMT 1- 55$ (40 % of the planned investment amount)
LMT 2- 51.45$ (60 % of the planned investment amount)
TP: 84.25$
Comments and likes are greatly appreciated.
I wrote this article myself, and it expresses my own opinions and this is not a call for investment. I am not receiving compensation for it . I have no business relationship...
african swine flu is taking hold in china making pork prices extremely pricey in china. i expect a de-escalation in the trade front until after chinese new year. china is the largest buyer and producer of pork. if over half their herd is infected during the highest seasonal demand time. the common person in china would loose their ish. the fact is they need to...
I am expecting 4 more weeks of downside until the week of September 23 testing the yellow trendline.
After that, hopefully prices return to resistance around 92 as indicated by the blue arrow.
