Lean Hog Technical Analysis Summary

 Lean Hog Technical Analysis Summary

Lean Hog Technical Analysis Summary.

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Buy Stop: Above 79.9

Stop Loss: Below 72.2

IndicatorSignal
RSIBuy
MACDBuy
MA(200)Neutral
FractalsNeutral
Parabolic SARBuy
Bollinger BandsNeutral

Lean Hog Chart Analysis

Lean Hog Technical Analysis

On the daily timeframe, LHOG: D1 is moving towards the upper border of the descending channel. A number of technical analysis indicators formed signals for further growth. We do not exclude a bullish movement if LHOG rises above the last 2 fractals: 79.9. This level can be used as an entry point. Initial risk limitation is possible below the Parabolic signal, the last lower fractal, 10-month low and the support line of the descending channel: 72.2. After opening a pending order, move the stop to the next fractal low following the Bollinger and Parabolic signals. Thus, we change the potential profit/loss ratio in our favor. The most cautious traders, after making a deal, can go to the four-hour chart and set a stop-loss, moving it in the direction of movement. If the price overcomes the stop level (72.2) without activating the order (79.9), it is recommended to delete the order: there are internal changes in the market that were not taken into account.

Fundamental Analysis of Commodities – Lean Hog

The United States Department of Agriculture (USDA) reported an increase in pork exports. Will LHOG quotes continue to rise?

According to the USDA, the cumulative export of pork in the 2021/2022 season is 3.2% higher than the level of the same period of the previous season. At the same time, over the last week, sales abroad amounted to 45.65 thousand tons. This is a weekly high since mid-May 2021. At the same time, the slaughter of pigs last week amounted to 1.41 million heads, which is 39 thousand heads less than in the same week last year. It can be assumed that export growth is outstripping production. Recall that in September 2021, pig slaughter in the United States decreased by 2% compared to September 2020 and amounted to 10.8 million heads. At the same time, meat production decreased by 3% due to a slight decrease in the average live weight of one pig.

By Dmitry Lukashev – IFC Markets

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