Lean Hogs Setting Up For A Bigger Move
Lean Hogs
Technicals (August): August lean hogs have been trapped between the 200-day moving average and 50 day moving average for a while now, but as those converge it could setup for a bigger directional move (instead of the choppy sideways trade that we’ve been stuck in for a month). First resistance comes in from 108.65-109.45. This pocket represents trendline resistance and the 50-day moving average. On the support side of things, 103.00-103.95 is the MUST HOLD area. This represents trendline support and the 200-day moving average.
Resistance: 108.65-109.45***, 110.075-110.225**, 111.30***
Support: 103.00-103.95****, 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 (August): August lean hogs have been trapped between the 200-day moving average and 50 day moving average for a while now, but as those converge it could setup for a bigger directional move (instead of the choppy sideways trade that we’ve been stuck in for a month). First resistance comes in from 108.65-109.45. This pocket represents trendline resistance and the 50-day moving average. On the support side of things, 103.00-103.95 is the MUST HOLD area. This represents trendline support and the 200-day moving average.
Resistance: 108.65-109.45***, 110.075-110.225**, 111.30***
Support: 103.00-103.95****, 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.
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