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Lean Hogs Test "MUST HOLD" SupportLean Hogs The quarterly Hogs and Pigs report will be out after the close. Estimates are: All hogs and pigs - 99.0% Breeding herd - 98.9% Market hogs - 99.0% Technicals (August): Lean hog futures broke lower yesterday, trading into 4-star support from 103.00-103.95. This pocket represents trendline support and the 200day moving average. A failure here could take futures back near or below 100.00. On the resistance side of things, there’s not a lot until the 50-day moving average, today that comes in at 108.125. Resistance: 108.125**, 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.
CME:HEQ2022
by OliverSloup_BlueLine
Lean Hogs Setting Up For A Bigger MoveLean 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.
CME:HEQ2022
by OliverSloup_BlueLine
Lean Hogs on the Move Lean Hogs Technicals (July): July lean hogs were able to breakout above trendline resistance and the 50-day moving average which led way to an extension to our next resistance level mentioned in yesterday’s report, we’ve defined that wide ranging pocket as 112.825-114.00. Previous resistance will now act as support, that comes in near 110.50-111.475. Resistance: 112.85-114.00****, 117.025-117.85** Pivot: 110.50-111.475 Support: 103.35-103.70****, 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.
CME:HEN2022
by OliverSloup_BlueLine
Lean Hogs are at an Inflection PointCommitments of Traders Update: Friday’s CoT report showed Managed Money were net sellers of 3,641 futures/options contracts through June 14th. This shrinks their net long position to 18,832 futures/options. Broken down that is 44,483 longs VS 25,651 shorts. Technicals (July): July lean hogs gaped higher on Friday but couldn’t get much else going after fizzling out against trendline resistance from the March 31st high and the 50-day moving average. If the Bulls can chew through this barrier, we could see futures attempt to breakout above the 100-day moving average and the June 2nd high, 112.825-114.00. Resistance: 110.50-111.625***, 114.00-114.825*** Pivot: 109.575-110.075 Support: 103.35-103.70****, 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.
CME:HEN2022
by OliverSloup_BlueLine
Lean Hogs Approach Techncial Resistance. Time to Breakout? Lean Hogs Technicals (July): July lean hogs were able to find follow-through momentum yesterday, inching closer to the pile of technical resistance. Trendline resistance from the March 31st highs and the 50-day moving average come in at 110.675, which comes right in line with the June 8th high. This will be a big hurdle for the Bulls to overcome. If they can, there's more roadblocks from 112.75 to 114.00. Resistance: 110.675-111.00****, 112.75***, 114.00-114.825*** Pivot: 106.75-107.00 Support: 103.35-103.70****, 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.
CME:HEN2022
by OliverSloup_BlueLine
Daily Lean Hog Technical and Fundamental Update (6.16.22)Lean Hogs Technicals (July): July lean hogs were all over the place today as the market attempts to find its footing. The close out above resistance from 106.75-107.75 is encouraging and could encourage additional buying to 110.775-11.625. This pocket represents the 50 day moving average and trendline resistance from March 31st high. The Bulls have their work cutout for them with plenty of hurdles to overcome just above that pocket. Resistance: 110.50-111.625***, 114.00-114.825*** Pivot: 106.75-107. Support: 103.35-103.70****, 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.
CME:HEN2022
by OliverSloup_BlueLine
Daily Lean Hog Technical and Fundamental Update (6.12.22) Lean Hogs Technicals (July): July lean hogs attempted to get out above technical resistance from 106.75-107.75 but failed to sustain the early momentum into the afternoon session. If the Bulls can chew through and close above this pocket, we would look for an extension towards the mountain of resistance from about 111.00-112.70. This pocket includes trendline resistance from the March 31st highs, the 50 and 100 day moving average, and other previously important price points. On the support side, 103.35-103.70 is the pocket the Bulls must defend. Resistance: 106.75-107.75*** 110.50-111.625***, 114.00-114.825*** Support: 103.35-103.70****, 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.
CME:HEN2022
by OliverSloup_BlueLine
Daily Live Cattle Fundamental and Technical Outlook (6.12.22)Tuesday’s Slaughter is estimated at 122,000. 4,000 less than last week, but unchanged from the same week last year. Tuesday’s Cutout Values Choice: 269.44, Down 1.10 from the previous day. Select: 246.82, Down .63 from the previous day. Choice/Select Spread: 22.62 5 Area Average Cattle Price Live Steer: 141.72 Live Heifer: 143.00 Dressed Steer: 225.58 Dressed Heifer: 226.00 Live Cattle Technicals (August): Tuesday was mostly a nothing burger, with futures trading on both sides of unchanged, only to finish the session near unchanged. As mentioned in yesterday’s report, the outside markets will be the driver, ahead of today’s Federal Reserve announcement. The market is pricing in a .75% rate hike. The announcement will be at 1:00pm CT and a press conference at 1:30pm CT will follow. Resistance: 136.025-136.625***, 137.90-137.95**, 138.75**, 140.275** Pivot: 135.10-135.475 Support: 132.45-132.775**, 129.975-130.725**** 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.
CME:LEQ2022
by OliverSloup_BlueLine
Lean Hogs Defend Significant Support.....AGAIN Lean Hogs Technicals (July): Our "MUST HOLD" support pocket held again yesterday which was a silver lining, but I'm sure the Bulls would rather stop testing it. That pocket remains intact from 103.35-103.70. A failure here could take us back to fill the tiny gap left from May 16th, and potentially lower. On the resistance side of things, there are multiple hurdles for the Bulls. The first hurdle comes in right near where the market closed, 106.75-107.75. A close back above this pocket could help spark some buying interest which could take us back near the 50 and 100 day moving average, which coincides with trendline resistance from the March 31st high. Resistance: 106.75-107.75*** 110.50-111.625***, 114.00-114.825*** Support: 103.35-103.70****, 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.
CME:HEN2022
by OliverSloup_BlueLine
Lean Hogs Test the Last Line of Defense Lean Hogs Commitments of Traders Update: Friday’s CoT report showed Managed Money were net buyers of 4,335 futures/options contracts, through June 7th. This expands their net long position to 21,630. Broken down, that is 46,526 longs VS 24,896 shorts. Technicals (July): July lean hogs were able to stabilize on Friday after defending MUST HOLD support on Thursday. That pocket remains intact from 103.35-103.70. A failure here could take us back to fill the tiny gap left from May 16th, and potentially lower. On the resistance side of things, there are multiple hurdles for the Bulls. The first comes in from 106.75-107.75. A close back above this pocket could help spark some buying interest which could take us back near the 50 and 100 day moving average, which coincides with trendline resistance from the March 31st high. Resistance: 106.75-107.75*** 110.50-111.625***, 114.00-114.825*** Support: 103.35-103.70****, 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.
CME:HEN2022
by OliverSloup_BlueLine
A partial war-trade deal? / Semiconductors +Trump has said many times before, he did not want a "partial" trade deal. There seems to be real volume and buying, sending the whole market to highs. There is a possibility that this "partial deal" is just a delay of tariffs (october 15th, and December?) and buying of agricultural products (soybeam, pork). Which we have seen before, unfortunately, to mean nothing. ------ Have a great long weekend. Trading starts Tuesday because of Columbus day on Monday 14th.
NASDAQ:SOXX
by dorfmanmaster