July Lean Hogs fell off of H&S today and crossed neckline signalling possible follow through to 74.225 which would be the height of the neckline to top of head where support comes. Hogs needs to break and stay under 76 for confirmation.
Kommentar:
At the end of the day, Hogs was able to stay under the neckline and form a solid bottom bar. Still looking for a break through below 76. Drop with window would be the best indication of continued selling. 11:59 to 12:04 aggressive selling was on display. RSI is still in downward direction and Open Interest is stable. Low volume bars are also a good thing. Candle formation of 3 soldiers reinforces positive outcomes. We will see tomorrow.
Trade geschlossen: Ziel wurde erreicht:
Lean Hogs met H&S target today and was madly traded back up. Downward trend still in affect. Looking for push to downward trend line.
Trade geschlossen: Ziel wurde erreicht
