Lean Hogs Rally
Lean Hogs
Commitments of Traders Update: Friday’s CoT report showed Managed Money were net buyers of 5,411 futures/options through July 19th. This expands their net long position to 45,435 contracts.
Technicals (October): October lean hogs were able to breakout above the top end of the range from May and June, this could propel prices back to the march highs, 100.825. On the support side of things, the 100-day moving average lines up with previous resistance near 94.30-95.30. The Bulls will want to defend this pocket going forward. A break and close below could neutralize the friendly developments on the chart.
Resistance: 97.525-97.85**, 100.375-100.825***
Support: 94.30-95.30***, 92.50**
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.
Commitments of Traders Update: Friday’s CoT report showed Managed Money were net buyers of 5,411 futures/options through July 19th. This expands their net long position to 45,435 contracts.
Technicals (October): October lean hogs were able to breakout above the top end of the range from May and June, this could propel prices back to the march highs, 100.825. On the support side of things, the 100-day moving average lines up with previous resistance near 94.30-95.30. The Bulls will want to defend this pocket going forward. A break and close below could neutralize the friendly developments on the chart.
Resistance: 97.525-97.85**, 100.375-100.825***
Support: 94.30-95.30***, 92.50**
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.
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.