Lean Hogs Trade at Their Highest Level in Months
Lean Hogs
Technicals (August): Lean hog futures “broke out” above the upper end of their range, trading to their highest price since April 29th. The higher trade lacked conviction and follow through, which is keeping our excitement mute. There’s now a gap below the market that we will need to keep an eye on. Previous resistance will now act as our pivot pocket, 111.30-112.00. A break back below here could take us to fill the gap near 109.825-110.50
Resistance: 116.325**, 120.30-121.25***
Pivot: 111.30-112.00
Support: 109.825-110.50***, 103.00-103.95***, 101.30-101.60**, 98.00-98.65****
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): Lean hog futures “broke out” above the upper end of their range, trading to their highest price since April 29th. The higher trade lacked conviction and follow through, which is keeping our excitement mute. There’s now a gap below the market that we will need to keep an eye on. Previous resistance will now act as our pivot pocket, 111.30-112.00. A break back below here could take us to fill the gap near 109.825-110.50
Resistance: 116.325**, 120.30-121.25***
Pivot: 111.30-112.00
Support: 109.825-110.50***, 103.00-103.95***, 101.30-101.60**, 98.00-98.65****
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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