Another flag opportunity. July Lean Hogs created a bearish flag today out of the bullish one a couple of days ago. Tried to close second gap, but was traded back. Caution, Hogs are also caught in a wedge so fall may be short lived until proof of exit and sustained candle is outside. This is still an upward trend. Grains are creating multiple bullish flags today, so they may be better opportunities next week.
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Lean Hog created a harami pattern today bouncing off upward trend. Possible upward movement Tuesday.Note
Lean Hog is creating another bearish flag Tuesday. There may be a trend break in the next couple of days. Looking for a low to 76.050Note
Lean Hog index still declining. Now 72.92 fall from 73.38 the previous day.Note
Lean Hog fell off of bearish flag and hammered Friday. RSI is in neutral territory, but in overall downward trend. Day ended with candle up inside major upward trend. Monday may show better direction for this market.Note
Hogs took off today from upward trend line. Looking to fill gap at 79 tomorrow. H&S still intact.
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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.