Hogs moving into a potential Bearish Gartley pattern. RSI is coming to a high point at R2 59.900. Resistance comes at 62.900 just under R3. Possible entry previous pivot at 61.375 for reversal. Hog index is falling and is now at 54.21.
Note
Hogs on the down move of the Gartley. Now passing through pivot at 53.675. Next target S1 at 49.825Note
Hogs fell through the pivot and S1, now heading for S2 double bottom. Index is at 46.65 and falling.Note
New pivots for Hogs. Waiting to see if this market starts up again. Note
Hogs failing on an up tick swing. Hog index rising supporting lows below 47. R1 at 57.050 becoming difficult resistance.Note
Hogs continue higher heading towards 59.800Note
Major downtrend line. Will see if this breaks that.Note
Hogs broke the downtrend line, but is also overbought. We still may see a climb to 62.Note
May even take a run at 64.250 at R3Note
Hogs showing reversal. May drop to R2 at 59.800 back to RSI trend line. Index is now at 57.400Note
Hogs still trying to climb as Index is just underneath at 62. RSI overbought. Today was a negative day, but bulls may try for another run.
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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.