Hey everyone hope you are having an incredible week so far! Just wanted to get on here and share an opportunity I see in the futures market on Lean Hog Futures! So here we go!!
OK so when looking at the prices of lean hogs you can see that price was creating lower highs and lower highs for some time all the way through the 2023 cycle year. Now we can see something recently shifted with prices when we can see that demand exceeded supply and broke the lower highs around 86 and ended up printing new highs in price around 100. Which is the high of the 2024 year currently and a higher high in market technical terms. But what does that mean? Well pretty much exactly what it shows us...demand exceeded supply...buying volume increased in this asset due to a rise in demand/costs and caused prices to rise and make new highs.
OK so now that we are in an uptrend technically and the buyers are showing us they are now ruling this market so to speak...there can be potential further upside from historical demand that price is now re-visiting around 88 which is a significant zone because this is where the buying control and volume overruled the selling and rather than continuing lower it broke to new highs in price. So would be expecting a similar reaction if not even to break higher and create new highs.
ALSO technically we have a 50% retracement fib and the daily 200 EMA acting as extra confluence for the trade. Hope you guys enjoyed this analysis and it made sense any questions feel free to reach out anytime!!
Thanks so much for tuning in please hit that boost button and follow my page for more accurate analysis! Cheers!
OK so when looking at the prices of lean hogs you can see that price was creating lower highs and lower highs for some time all the way through the 2023 cycle year. Now we can see something recently shifted with prices when we can see that demand exceeded supply and broke the lower highs around 86 and ended up printing new highs in price around 100. Which is the high of the 2024 year currently and a higher high in market technical terms. But what does that mean? Well pretty much exactly what it shows us...demand exceeded supply...buying volume increased in this asset due to a rise in demand/costs and caused prices to rise and make new highs.
OK so now that we are in an uptrend technically and the buyers are showing us they are now ruling this market so to speak...there can be potential further upside from historical demand that price is now re-visiting around 88 which is a significant zone because this is where the buying control and volume overruled the selling and rather than continuing lower it broke to new highs in price. So would be expecting a similar reaction if not even to break higher and create new highs.
ALSO technically we have a 50% retracement fib and the daily 200 EMA acting as extra confluence for the trade. Hope you guys enjoyed this analysis and it made sense any questions feel free to reach out anytime!!
Thanks so much for tuning in please hit that boost button and follow my page for more accurate analysis! Cheers!