February Lean Hogs

Oct 27, 2017

Feb lean hogs produced a bullish flag and the hog index has risen steadily over the last two weeks. Projecting prices to move to 72.600 creating a bearish butterfly. Market has gone out of the pivot point projections for Fibonacci. As long as the index continues going up, this price projection will rise. Dec Hog index now at 68.28. Pork production is high, but so is exports. USDA project lower prices because of production in 4th quarter and into 2018. RSI is still holding line from previous quarters.

December futures

Oct 30, 2017

Note

Hogs rose off the bullish flag to day. Next upside target is 72

Oct 31, 2017

Note

Hogs gap up and continues to rise off of flag. Index slowing down, steady at 69 for December. Target for December 68, Feb is 74

Oct 31, 2017

Note

December Hogs made 68. Next upside target is 69. February target 74. This should put RSI into extreme overbought scenario. A lot of sells put in at differing heights that were blown through. Last major sell was at 68. Doji or shooting star expected tomorrow depending if index can continue upward at a more accelerated pace.

Nov 1, 2017

Note

Hogs fell today on overbought conditions. Index still steady at 69 for Dec. We may see a fall to the index or a flat line. Downside target for bears is 70.325 at new pivot point for Feb, 65.225 new pivot point for Dec. Bulls may muster another run at 74 for Feb Thursday.

Nov 2, 2017

Note

Feb hogs fought back sells. Friday may try again for lower numbers and take home profits from the rise, or try another attempt at a double top. Dec more bearish. Lead contract Dec maybe a better forecast for tomorrow.

Nov 6, 2017

Note

February Hogs produced a bearish flag on Friday. Index rose just a little at 69.42. Index becomes support. December collapsing and is the lead future, so Monday may show better direction.

Nov 7, 2017

Note

Feb Hogs finally fell of flag today as index fell as well down to 68.95. Next downside target for bears is 20 day moving average at 70.025 and possibly 69. The index continue to be support until broken for bulls and target for bears.

Nov 8, 2017

Note

Hogs fell again closing in on index now at 68.66. Suspect one more fall before Friday profit taking.

Nov 9, 2017

Note

Hogs created a spinning top today. Maybe showing signs of bearish flag for tomorrow or rebound back up. Index fell again today to 68.35

Nov 14, 2017

Note

Hogs still forming a bearish flag. Dec down a little today and using S1 as support. Index down again to 67.4

Nov 14, 2017

Trade closed manually

Hogs fell off of bearish flag. Will be updating Feb hogs with a new potential chart.