The hog index continues to fall now at market today. Expect continued move downward. Retracement is at the 20 day MA. We are in a fall from a double top at 67.675. Upward trend line would have to broken and stayed below for a complete fall to occur. First target would be back to S2 at 58.375. RSI trend is down for now.
Note
20 day MA holding for hogs move higher. Waiting for fail or break above and held above the 20 DMA. There could be a bear flag here.Note
Hog index steady at 53.12 or there about. This upswing isn't gaining any momentum. Still expecting a fall here.Note
Pivot must be broken and stay above for any further upside. S2 might be a more tangible move. Market below the 20 day MA.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.