December Lean Hogs Mutiple setups
Updated
Dec Hogs took a run at the ever increasing index now at 69.31 for the Oct contract. This appears to be heading for a double top. We have a few things developing for Dec. In short term a possible head and shoulders bring it down to S2. In long term we have a Elliot Wave in its 3rd position. New Pivots have formed for the month of October. If this market explodes further upwards we would be heading for a double top at 66 for Dec.
Note
Hogs still within the mini H&S. Now below the 20 day MA. Still needs to break neckline for it to move to S2 at 53.425Note
Hogs breaks through H&S neckline. Target S2 at 53.425, then 52.00Note
Hog index now stalling at 69.36Note
Hog Index dropping to 68 and prices for Dec are finding resistance at R1. H&S may expand outwards and still have another potential drop.Note
Hogs below neckline to start the day. Target S3 at 51.425
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.